Skip Content
Sign in to the member area
Coronavirus Update + Support >

Does the Money For a Car Loan Go To The Dealer or Into Your Bank Account?

With the Car Loan on Finance, do you see the money?

As in if you request £10,000, do you get it in your bank account or is it just put against the car you choose at the dealer?

Asked by Tom

Hi Tom, thank you for your question.

The finance we offer is secured against the vehicle so the £10,000 you need would go to the supplying dealership direct and not into your personal bank account.

I hope that answers your question. Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Rachel

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

Liked by 69 People

5 Years
Total cost of credit £ XXX.XX
Total repayment £ XX,XX.XX
48 monthly
payments of
£ 245 98

Rates from 6.9% APR: the exact rate you will be offered will be based on your circumstances

Representative example: borrowing £6,500 over 5 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £188.74 per month, with a total cost of credit of £4,824.37 and a total amount payable of £11,324.37

Rates may differ as they are dependent on individual circumstances. Subject to status.

Can't find the right answer?

Our Manchester based team are ready to help you.