Looking for Car Loans?

Simple Personal Loans can offer you exactly what you are looking for in a car loan, we have a great range of lenders to suit your exact circumstances and requirements.

Getting a personal loan for a car is one of the best options if you don’t have any savings or if you would rather spread the cost over a fixed period.

We also consider secured and unsecured loans for motorcycles, boats, trucks, private planes and other high-value transport-related products.

Secured Loans

Secured loans are the type of loan that uses your collateral or asset against another loan amount, so your new car could be secured against your house, boat, motorbike, etc.

These type of loans normally offer better representative apr rates and lower monthly payment because you are securing the new debt against another asset, therefore the lender offers a better rate because they know the loan is guaranteed.

However, please remember with a secured Car Loan,  if you default on your payments or cannot repay the debt the lender can seize the asset you secured against this purchase.


  • Often a lower interest rate than an unsecured loan
  • Easier to get with average or even bad credit history


  • You do not own the car until the final repayment is made
  • Your secured asset is a risk if you do not repay the loan

Unsecured Car Loans

An unsecured car loan provides you with funds that are not set against any assets or collateral, however, this may cause a slight increase in interest rates compared to a secured loan.

The better your credit rating is, the higher your borrowing capacity is, plus the potential of a lower interest rate.

Conversely, if your credit is poor, the less your borrowing capacity becomes and the higher the interest rate.

Guarantor Car Loans

Taking out a guarantor personal car loan to secure a car purchase is a useful option to turn too.

A guarantor guarantees to pay your debt and demonstrate that your loan will be paid on time if you are unable to make those payments, without having any claim to any assets, like a secured loan.

They will also co-sign the loan agreement with you pledging their assets in the event you cannot honour your loan terms.

Your guarantor should be 18 or over with a good credit history, ideally a homeowner (although this is not compulsory) and they must have good regular income paid into a U.K bank account.

If you make payments on time and never default on your agreement, your guarantor will not have to carry out any action or make any payments to the lender.


  • Higher application approval 
  • It’s great if you have a poor credit history
  • It could boost your credit rating


  • High-interest rates
  • Negative notes on your credit file 
  • You could lose close family and friends if you break the agreement


Apply now for a Simple Personal Loan and we’ll try and find the right deal for you.