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FAQs
All loans are subject to status. Terms and conditions apply
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.
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.
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:
If you meet our eligibility criteria, you’ll need the following to apply for a quote:
If your application is successful, we’ll also ask for your bank account details.
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.
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.
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 |
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:
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:
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:
For more information, visit our: Ultimate guide to financing a car
