Car loans
Looking at ways to finance your next car? Apply for a personal loan quote and get a decision in minutes, without affecting your credit score.
Why choose us for your car loan?
Who can apply?
We know everyone is different. That’s why we look at every customer individually. But we do have some criteria you’ll need to meet before we can consider your car loan application. You must:
Apply for a car loan
We believe in being fair and transparent.
When you apply for a loan quote with us, we run a soft credit check that doesn’t impact your credit score. You’ll get an upfront, guaranteed rate if you’re eligible. That way, you can decide if our home improvement loan is right for you before applying.
If you’re eligible and accept our rate, you’ll need to provide us with your bank details and sign your documents online. Once we’ve approved your loan and signed the agreement, we’ll send you your funds within three working days — ready for you to find your dream car.
What will I need to apply online?
To receive a quote, you’ll need to meet our eligibility criteria and provide us with the following information:
- Residential addresses for the last three years
- Contact details, including an email address
- Employment information
Representative example
The rate we offer you will depend on your circumstances.
Representative example: for comparison purposes, 16.9% APR Representative based on a loan of £10,000 repayable over 60 months (five years) with an interest rate of 16.9% p.a. (fixed). Monthly payment of £241.68 total amount repayable £14,500.74.
All personal loans are subject to status. The interest rate offered will vary depending on our assessment of your financial circumstances and your chosen loan amount. That's why you won't find a loan calculator on our website. To find out more about this as well as our commitment to transparency, visit our guide on why Shawbrook Bank doesn't use loan calculators.
We offer loans from £1,000 to £50,000 with loan terms from one to seven years. The maximum APR rate you could be offered is 34.9%.
About Shawbrook
Personal loans without the confusion.
We’re proud to be a different kind of bank. We’re committed to being fair and transparent with everyone that applies for a personal loan, so this is our promise:
Help
Below are some of the most common queries about our car loans
What is a Shawbrook car loan?
A Shawbrook car loan is an unsecured personal loan.
With a Shawbrook loan, you could borrow between £1,000 - £50,000. You can take the loan over one to seven years, depending on the amount you wish to borrow.
Because it's a personal loan, at the end of the loan term, you won't owe anything else.
Is a car loan the same as car finance?
There are a few types of car finance, including unsecured personal loans, personal contract purchase (PCP), hire purchase (HP) and leasing.
A Shawbrook car loan is an unsecured personal loan.
How are your car loans approved?
If you apply for a Shawbrook car loan, we look at the information provided in your application and we will only lend to you if we are comfortable that you can afford the loan. Then we'll let you know if you would be approved before you apply.
Can I pay a loan back early?
Of course — you have the right to pay a personal loan back early or make an additional monthly repayment under the Consumer Credit Act. But it’s important to know that this may be subject to an early repayment charge.
To discuss your options with a member of our team, please contact us. If you have taken out a loan with us on or after 13th December 2021, you can also log in to your customer portal to contact us: https://myloan.shawbrook.co.uk/.
Alternatively, you can find out more by reading our guide on paying off a loan early.
What should I consider before taking out a loan to finance a car?
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.
Need more help?
We have a range of information to help you understand our personal loans including how our products work, applying for a loan and getting in touch with our team.
About our car loans
Personal loans insights hub
You’ll find a number of useful guides to support you. From helping to debunk financial jargon to planning and budgeting to turn your dreams into a reality.
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Our business
About Shawbrook
Shawbrook provides finance to a wide range of customers who value the premium experience, flexibility and certainly we deliver. We are a purpose-led organisation, with a focus on delivering long-term sustainable value for all our stakeholders.
Sustainability
Our sustainability strategy is designed to create value for our customers, colleagues, communities, suppliers and shareholders, while having a positive impact on society and the wider environment.
Saracens sponsorship
As official banking partner of Saracens Rugby Club, we are proud to champion elite women’s sport by supporting the growth of both women’s rugby and netball as lead sponsor of the Mavericks.