Car Loans

    • You could own your car outright with a personal loan - borrow from £1,000 to £30,000
    • Flexible loan length so you can spread the cost for up to seven years
    • Simple application process with a guaranteed rate upfront
    • Receive a tailored quote without affecting your credit score
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All loans are subject to status. Terms and conditions apply

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We can lend from £1,000 to £30,000.
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Loan terms over one to seven years.
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Fixed rates and fixed monthly payments over the whole term.

What’s different about a Shawbrook Bank Loan?           

We know that not everyone gets the best deal from their bank. So, we’ve chosen to do things differently.

With loans from £1,000 to £30,000 and loan terms from one to seven years, we give you the flexibility you need to find the car that’s right for you.

So, whether you’re looking for a new SUV or a used MINI, you can search for your next motor knowing what you can spend, how much you’ll pay back, and how long for.

And don’t forget, being able to pay upfront for a new or used car could help you negotiate a better price — just one of the benefits of having cash on the bonnet.

For more information on what a car loan is, jump to our FAQs.​

Applying for a quote

When you apply for an instant car loan quote with us, we’ll give you a guaranteed rate based on your circumstances.

At Shawbrook, we believe in being fair and transparent. That’s why you’ll know the rate you’ll actually get from the start.

Don’t worry. Applying for a quote won’t impact your credit score. Why? Because we use what’s called a soft credit search. So, you can decide if a Shawbrook car loan is right for you without leaving a scratch.

Get my personalised quote

Will I qualify for a car loan?

We always consider every customer’s circumstances. But we do have some criteria which you’ll have to meet before we can consider your application. You must:

    • Be aged 25 to 75
    • Have been a UK resident for at least three years
    • Have an annual income of at least £15,000
    • Have a personal bank account in the UK

What do I need to apply for a car loan?

If you meet our eligibility criteria, you’ll need the following to apply for a quote:

  • Residential addresses for the last three years
  • Contact details, including an email address
  • Employment information

If your application is successful, we’ll also ask for your bank account details.

Representative Example

The rate you are offered will depend on your individual circumstances.

The interest rate offered will vary depending on our assessment of your financial circumstances and the amount you wish to borrow. That’s why you won’t find a car loan calculator on our website. To find out more about this and our commitment to transparency, visit our guide on: Why Shawbrook doesn’t use loan calculators.

Representative Example: for comparison purposes, 14.9% APR Representative based on a loan of £10,000 repayable over 60 months with an interest rate of 14.9% p.a. (fixed). Monthly payment of £232.53 total amount repayable £13,951.80.

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About Shawbrook

Our approach is based on good sense, honesty and clarity.

Shawbrook is proud to be a different kind of bank. Since 2011, we’ve quietly built our business by providing a select range of products for people who don’t always get the best deal from the big high-street banks.

 

Need help?

We’re standing by to help with your application.

Call us on 0345 600 6260

Opening Hours (Exc. Bank Holidays)
Mon - Fri 9am - 7pm
Sat 10am - 2pm
Sun Closed

Car Loans FAQs

A car loan is a personal loan taken out to purchase a new or used car.

With Shawbrook, a car loan is an unsecured loan. This means it’s not secured against your car or any other personal assets or property.

A car loan is just one way of financing a car. Other methods include:

  • Paying cash from existing savings
  • Hire purchases
  • Personal contract purchase (PCP) agreements
  • Personal contract hire (PCH) agreements

You can also carry out part-exchanging alongside another financing method. To find out more, visit our: Ultimate guide to financing a car.

APR stands for annual percentage rate. This rate reflects the total cost of borrowing and takes into account the interest rate charged and any additional charges you will need to repay on top of the amount of money you borrow.

The representative APR is not necessarily the same as the APR you will be eligible for. Only 51% of customers must receive  the representative APR in order for it to be used in advertisements.

That’s why Shawbrook offers free personalised quotes with your own guaranteed APR. Knowing the rate you will actually receive if accepted can help you decide whether a car loan is right for you.

Payments on your car loan are calculated by using the amount you want to borrow, how long you want to borrow it for and how much it will cost you to borrow this money including any fees (APR). A lender will use the APR on this sum to give you a fixed monthly payment over the duration of your loan.

Some lenders offer an online car loan calculator to help you see what your repayments could look like if you chose to borrow from that specific lender. But because loan calculators are based on the representative APR and therefore may not reflect what interest rate you’ll get when you apply, we don’t use them.

Instead of using car loan calculators, we offer you a guaranteed rate through our quote tool which provides you with a breakdown of your repayment costs based on the actual APR that you’re eligible for. And don’t worry, applying for a quote will not affect your credit score.

Some lenders offer an online car loan calculator to help you see what your repayments could look like. But because loan calculators are based on the representative APR, it may not reflect what interest rate you'll get when you apply. That’s why we don’t use them.

Instead of using car loan calculators, we offer you a guaranteed rate through our quote tool. This provides you with a breakdown of your repayment costs based on the actual APR that you’re eligible for. And don’t worry, applying for a quote will not affect your credit score.

For more information, read our guide on: Why we don’t use loan calculators.

A car loan enables you to own your car outright but still spread the cost over an extended period.

With a Shawbrook car loan:

  • The amount and length of the loan are flexible — you can borrow between £1,000 - £25,000 for between one and seven years

  • The application process is straightforward

  • You'll have the money transferred to your account within three working days, if approved for the loan

  • You can know exactly how much you have to pay month-to-month with fixed repayments

  • No deposit is required with a personal loan, unlike some car finance options such as personal contract purchase (PCP) and hire purchase (HP) agreements

As with all loans, you need to make sure that it’s right for you and your financial circumstances.

Some considerations that you should keep in mind are:

  • Your personal APR could be higher or lower than the advertised representative APR. Depending on the interest rate you receive, you could end up paying more or less than what you initially had in mind. Getting a personalised quote and guaranteed rate from Shawbrook before you borrow will help you make an informed decision
  • Whatever your APR is, it will still be more expensive than paying cash from existing savings as you’ll have to pay interest on the amount borrowed
  • By paying with cash, you aren’t protected in the same way as some other dealer finance options if something goes wrong with the car soon after you make payment. Make sure you purchase from a reputable dealership and understand your consumer rights and insurance before making a purchase

For more information, visit our: Ultimate guide to financing a car

Don't just take our word for it

Thanks to our consistency and customer focus, we have won awards for best unsecured loan lender and we have become a Feefo Platinum Trusted Service.

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