Advantages of a loan for purchasing a automobile

Advantages of a loan for purchasing a automobile

Purchasing a vehicle may be a commitment that is big. That’s why it is well well well worth taking the time and energy to look for a model with all the area, convenience and gratification you want. It’s simply as crucial to obtain the finance that is right and that loan is just one choice open to you.

Unsecured loan features and advantages

  • You have access to a rate of 3.9% APR agent if you are taking a loan of between ?7,500 – ?25,000 over anyone to 5 years.
  • You can easily handle your loan via Web Banking, within our Cellphone App, in branch or higher the telephone.
  • Other loan quantities between ?1,000 – ?50,000 over anyone to seven years can be found at various prices.
  • You can easily decide to make extra repayments, without penalty.
  • You’ll make an application for as much as two re payment holiday breaks of 1 thirty days in a rolling 12-month duration, in the event that you meet our conditions and terms.

The way that is simple purchase a vehicle

A Bank of Scotland personal bank loan for purchasing a motor vehicle gives you the freedom to choose the best finance terms for you personally.

You don’t have to pay for a deposit, it is possible to select that loan period you like and you will get a choice in your application in moments in the event that you apply online. You’ll also have the motor vehicle through the outset, which means you have actually the decision to customise or offer your car or truck if you would like.

Observe how much you might borrow with our Loan calculator Loan calculator. Whilst the calculator can give a sign of monthly premiums and APR, you will find out your personalised rate by signing in to online Banking Web Banking.


  • You are able to submit an application for our unsecured loan when you yourself have held a Bank of Scotland active take into account a minumum of one thirty days.
  • Just how much we provide as well as the price available are susceptible to our evaluation of the circumstances that are personal as well as the quantity and duration you intend to borrow over.
  • In a few circumstances, we might manage to provide you with a repayment getaway. This could end up in you spending more interest over an extended period and raise the cost that is overall of car finance.
  • We shall charge as much as 58 times’ interest if you opt to settle your unsecured loan early.

Other styles of car lease will always be well well worth considering. Hire buy Hire buy or an individual Contract Purchase private Contract Purchase offer certain benefits that may do the job.

Budgeting is very important to ensure a Personal Loan is suitable for you, so don’t forget to think about other expenses related to having a motor vehicle to take into account, such as for instance insurance coverage, servicing, MOT, fuel and breakdown address.

We would like you to definitely find an item that is right for the circumstances, which explains why we stick to the guidelines of Lending Practice, that are checked and enforced by the Lending guidelines Board.

Representative Example

You might borrow ?10,000 over 48 months with 48 month-to-month repayments of ?225.04. The amount that is total will likely to be ?10,801.92. Representative 3.9% APR, yearly rate of interest (fixed) 3.83%.

This agent APR applies to loans of ?7,500 to ?25,000 over 1 to five years. Other terms and loan quantities can be obtained at various prices. The utmost APR you will be provided is 29.9% APR.

The representative APR is the price that at the very least 51% of men and women are anticipated to get whenever taking right out a loan inside the stated amount and term range.

Am I able to use?

You can get a personalised quote for a car loan and apply online if you have held a Bank of Scotland Current Account (excluding Easycash) for at least one month. You need to additionally be over 18 yrs old and get A british resident.

Competitive loans with versatile payment choices.


  • Versatile loan choices
  • Fixed or adjustable rate of interest
  • Funds from $10,000

Offer 3.49% p.a. Unique adjustable price. * Approved applications submitted by 31 January 2020. ^

  • Give you a re payment guarantee
  • Secure a leasing or contract contract
  • Improve income
  • Construction loan that is multiple
  • Drive back price increases
  • Funds from $500,000

More loans


  • From $2,000
  • Tailored to you personally
  • Secured and options that are unsecured

Vehicle & gear finance

  • Purchased it now and repay it
  • For vehicles and gear
  • No GST on loan repayments
  • Hire it and later own it
  • Fixed term
  • For vehicles and gear
  • Customise your repayments
  • Rent it and supply your can purchase it later on
  • For vehicles and gear
  • Rent through salary sacrifice
  • For automobiles
  • Limitless personal use of the vehicle

Business finance

  • For importers and exporters
  • Methods to fit your trade period
  • Neighborhood solution and specialist knowledge
  • For business movable assets
  • Tailored financing
  • Worldwide ability
  • Tailored physical commodity funding
  • Hedging items
  • Agricultural, metals, oil and power
  • For business and personal equity consumers
  • Customised financial obligation capital
  • Fund purchases and raise money
  • Secured financing solutions
  • Balance sheet financing
  • Ability to access money markets

More corporate finance solutions

Danger management

Import finance options

Affordable techniques to handle income.

Regulate interest dangers

Versatile tools to greatly help handle effects related to rate of interest changes.

Commodity danger administration

Manage changes in currency movements and commodity prices.

We are able to assist

Call 13 1998 for Australian based help 24/7

The questions you have answered

Prices and fees

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Things you need to know

*3.49% p.a. Is the interest that is variable on fully-secured CommBank BetterBusiness Loans (BBLs) for terms as high as 3 years. 4.25% p.a. Rate of interest relates to partially-secured BBLs for terms as high as 36 months.

^Not readily available for specific companies, loan purposes, deal and protection kinds, including Self-Managed Superannuation Funds (SuperGear) and Land Banking; Commercial Property Investor and Developer ANZSIC codes.

These details is present as at 29 October 2019 and it is prepared without taking into consideration your individual and/or company requirements and goals. CommBank has got the straight to alter or cancel this offer at any time with no warning. This system is just open to approved company clients as well as company purposes just. Applications for finance are susceptible to the Bank’s eligibility and suitability requirements and normal credit approval procedures. For present interest levels, confer with your CommBank Business developing Executive. View our Current Terms and Conditions for company Finance and CommBank company cost cost savings and deal records and start thinking about them before you make any choice about any of it item.