Large Car Loan

Thaipie

I’m looking at buying a brand new car for £39k and not quite sure how to finance it. The dealer is offering 4.9% apr on a pcp deal. I just wondered if it would be cheaper to go through a different lender and not the garage but I can only seem to find car loans online up to 25k. Is that the max you can borrow on an unsecured loan or am I just not looking in the right place?

[Deleted User]

Some lenders go to 35k, but you'll probably find it hard to get the amount you're looking for, although you could potentially split it over more than one loan. However, affordability is likely to be an issue.

Maybe take some from savings, especially if 4.9% is the best you're being offered.

MrFrugalFever

are monthly payments a consideration for you? If the answer is yes then the personal loan or hire purchase route will be significantly higher monthly payments but in turn you’ll pay significantly less interest, comparative to a PCP arrangement.

Do you like to change your car frequently? Or are you wanting to keep for a good number of years?

andyf1980

First direct do up to 50k but you have to have an account with them. Rates seem to go up over £30k for me when I look in the app.