Personal Loan
for Car Finance

Car Loans | CarFinance 247
Get a quote
No impact on your credit score
Rates from 7.9% APR. Representative APR 21.9%
Car Loans | CarFinance 247
Trustpilot logo
Trustpilot 4 Half Stars
4.6 out of 5

Rates from 7.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £6,500 over 5 years with a representative APR of 21.9%, an annual interest rate of 21.9% (Fixed) and a deposit of £0.00, the amount payable would be £172.09 per month, with a total cost of credit of £3,825.54 and a total amount payable of £10,325.54.

We look to find the best rate from our panel of lenders and will offer you the best deal that you’re eligible for. We don’t charge a fee for our service, but we do earn a commission. This does not influence the interest rate you’re offered in any way.

What is a personal car loan?

A personal car loan allows you to borrow a lump sum that you’ll usually receive in one go.

You’ll then need to pay the money back in monthly instalments for a set time period. Depending on the type of personal loan you have, this could be a fixed amount every month or it might vary depending on current interest rates.

There’s no deposit needed, but the lender could ask you to pay an arrangement fee upfront or as part of your monthly payments.

The thing that really makes personal loans stand out from the car finance crowd is that the finance company won’t own your car – it’s all yours as soon as you pay the seller. That means no restrictions. You can sell the car, go on an epic road trip or even take it off-roading – as long as you keep up with your repayments, anything goes.

Bear in mind though that if you opt for a restricted use personal loan, it may be specifically intended for car buying and could come with extra terms and conditions. Check the small print to be sure.

How do personal loans work?

You’ll need to pass a credit check to qualify for a personal loan although no score will guarantee that you’re approved.

Next, you’ll need to decide whether you’d like a fixed or variable rate loan and how long you want to have to pay the loan back. Typically, the longer you have, the lower your monthly payments will be. Remember though that your APR could mean you end up paying more overall.

What are the pros and cons of personal loans?


  • You own the car as soon as you pay the seller
  • With a fixed-rate loan, your repayments will be the same every month
  • You’ll have no mileage restrictions and can modify the car however you like


  • Your interest rates might be higher than other forms of car finance
  • You might pay more overall if you have a long repayment period
  • Some lenders restrict the loan amount and loan period you can have

Is a personal loan the right car finance option for me?

Always check your agreement for any restrictions but buying a car with a personal loan could work for you if:

  • You want to own the car as soon as you pay the seller
  • You want to drive as many miles as you like

Why come to us for a personal loan for a car?

For us, used car finance is all about helping people improve their everyday lives.

Whether it’s sorting out the school run, getting that big boot for the big shop, or just the car you’re proud to park outside the office, we work to get the right personal loan deal for you.

With our panel of lenders, we can look to find personal loans for people with good credit, bad credit and somewhere-in-between credit.

Plus, you’ll have a dedicated account manager on hand to help you through the process.

What’s next? How to apply for a personal loan

Whether you’re looking for a Peugeot on PCP, a Honda on HP, or a personal loan for a Land Rover, we could help!

It starts with a quote. If you’re approved in principle, your account manager will give you a call to talk through your options. No strings attached. They can answer any questions you have and grant you access to our car search – a treasure trove of over 125,000 used cars ready and waiting to find a home. Found a car somewhere else? We can still help – just let your account manager know.

Can I get a personal loan for a car?

Could a personal loan for the right car finance option for you? Find out how it works, the pros and cons, and what you should consider before making an application.

Ready to start?

Applying with us only takes a couple of minutes and won't affect your credit score

Get in touch

Contact us

* The UK's number one online car finance broker by unique users to the website. Based on Hitwise data – 1,746,657 to CarFinance 247 vs. 666,020 for nearest competitor. January to December 2019.

96% of our customers recommend us: † Based on feedback left on independent review site Reviewcentre. May 2019.

CarFinance 247 is a trading name of CarFinance 247 Limited. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. (Registration Number 06035525).

CarFinance 247 is authorised and regulated by the Financial Conduct Authority for insurance distribution and credit broking (Firm Reference Number: 653019). CarFinance 247 is registered with the ICO (Registration Number Z1897658).

Finance is subject to status and is only available to UK residents aged 18 and over. Written quotations are available on request.

This site uses cookies so that we can provide you with the best user experience. By continuing to use the site you are consenting for cookies to be used. Further information on cookies and how you can disable them is available on our cookie policy.