Win your car finance with CarFinance 247

If you win, we'll pay off the finance on your car. It's that simple! Your car becomes completely yours, free and clear.

This amazing offer is open to anyone who has secured car finance with us throughout 2023, including Decemeber 2023!

This means that there's still time to enter, get your finance in December, and you're automatically in!

The lucky winner will be announced the week beginning 5th February 2024 on our instagram page.

Terms and Conditions apply.

Personal Loan
for Car Finance

Car Loans | CarFinance 247
Get my quote Rates from 9.9% APR. Representative APR 19.9%
CarFinance 247 is a credit broker, not a lender.
Car Loans | CarFinance 247

Rates from 9.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status.

Rates from 9.9% APR. Representative 19.9% APR. Hire Purchase (HP) Example: Borrow £10,000 over 5 years with a £0 deposit. Representative APR 19.9% fixed rate. Monthly payment: £255.50. Total cost of credit: £5,329.80. Total amount repayable: £15,329.80. Car Finance 247 Limited is a credit broker not a lender.

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 earn a commission for providing our services, but this does not influence the interest rate you're offered in any way.

By planting a tree for every car finance agreement issued to one of our customers, CarFinance 247 is driving towards a more sustainable future.

What is a personal car loan?

With a personal loan, you can borrow a lump sum to buy a car.

While we don't currently work with lenders that can provide personal loans at CarFinance 247, you’ll usually receive the loan in one go and then pay it back in monthly instalments. Depending on the type of personal loan you have, this might be fixed amount every month or it could change based on current interest rates.

There’s no deposit needed, but the lender might ask you to pay an arrangement fee upfront or as part of your monthly payments. The thing that makes personal loans really 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.

Keep in mind though that, if you opt for a restricted use personal loan, it could come with terms and conditions. Check the small print to be sure.  

Can I get a personal loan for a car?

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

How do personal loans for a car work?

You’ll need to pass a credit check to qualify for a personal loan. Next, you’ll need to decide whether you’d like a fixed or variable rate and how long you’d like to have to pay it back. Typically, the longer your loan period, the lower your monthly payments will be. It’s important to note though that the interest added may mean you’ll end up paying back more overall.

At CarFinance 247, we aren't currently able to offer personal loans. 

Personal Loan vs Car Finance

One of the best things about using a personal loan to buy a car is that the funds are typically transferred straight into your account so you can purchase like a cash buyer. This means no mileage restrictions or balloon payments to worry about.

However, personal loans can have higher monthly repayments than car finance options like PCP and, as you’ll own the car straightaway, depreciation will be a factor as it loses value over time.

What are the pros and cons of personal car loans?


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


Is buying a car with a personal loan the right option for me?

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

  • You want to own the car straightaway
  • You want to drive as many miles as you like
  • You want to modify the car to your own specifications

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.

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

What’s next? How to apply

It all 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 100,000 used cars ready and waiting to find a home. Found a car elsewhere? We can still help – just let your account manager know.

Frequently asked questions

Yes! To settle or pay off the loan early, contact your lender directly. They will provide you with a settlement figure based on your remaining monthly repayments, arrears, and interest. The further you are into your agreement, the lower your settlement figure may be. But be aware that you might have to pay a fee to settle the loan early; read your agreement carefully to find out more.

Yes, if you change your mind and no longer want to continue with your car finance agreement, you have 14 days to reject it. This time is also known as the cooling off period. Your 14 days start on either the day that you sign your agreement or the day that you received a signed copy it, whichever happened later.

And it’s not just car loans, a 14-day cooling off period applies to all regulated finance agreements.

We understand that circumstances can change and keeping up with your monthly repayments can get tough. There are a few things you can do in this situation.

  1. Sell your car

While the car may have decreased in value since you first bought it, you may still be able to generate enough revenue to pay off the rest of your loan by selling it.

  1. Speak to the lender

If your change in circumstances is temporary and you want to keep your car, your lender may be able to help by deferring payments or providing a temporary payment break. They may even be able to put a more manageable payment plan in place.

  1. Refinance your loan

You may be able to find a new deal with a lower interest rate or longer repayment period to reduce your monthly costs.

Yes! Whether you’re looking to get a better deal or reduce your monthly repayments, CarFinance 247 could help! We work with a panel of lenders and several of them can offer refinancing loans. When you refinance, you’ll settle your current finance with a one-off payment. Depending on the deal, this payment could be covered by the new lender or incorporated into your new loan amount.

Ready to start?

Applying with us only takes a couple of minutes.

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* The UK's largest online car finance broker by unique users to the website. Based on Similar Web data – 1,137,647 to CarFinance 247 vs. 753,819 for nearest competitor. January to June 2023.

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.

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