Secured car loans

The best loans secured against a car in the UK

Secured loans against a car, often referred to as logbook loans or car title loans, allow you to use your vehicle as collateral to borrow money. Here are some of the best options for car-secured loans in the UK, considering interest rates, terms, and overall reputation: Varooma, Mobile Money, CarCashPoint, Moneybarn.

As an alternative, you can also take out a personal loan. Your possible expenses:

Personal loan calculations for 1 year (example)

How much can I borrow on a secured loan?

The amount you can borrow on a secured loan in the UK varies widely based on several factors, including the type of collateral, the value of the collateral, your creditworthiness, and the lender's policies.

If you’re securing the loan against your home, you can typically borrow a larger amount, often ranging from £10,000 to £500,000 or more, depending on the property value and equity.

Loans secured against a car generally allow you to borrow between £500 and £50,000, depending on the car's value. Loans secured against savings accounts or investment portfolios can vary based on the total value of the assets.

Lenders usually allow you to borrow up to a certain percentage of the collateral’s value. For property, this is often up to 80-90% of the home's value, while for cars, it might be up to 50-80% of the vehicle's value.

Your credit score and financial history play a significant role. Borrowers with excellent credit can often secure larger loans with better terms, while those with poor credit might be more limited in the amount they can borrow.

Lenders will assess your income and overall financial situation to determine how much you can afford to borrow and repay. This includes looking at your debt-to-income ratio.

You can see the similar FAQ at the link: 

• Bank of Ireland lending criteria
• HSBC bank transfer time within the UK
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• HSBC in America
• HSBC loan early repayment: how to manage

Details of companies offering the financial services:

Car Cash Point

Head office’s address: Pitt House 120 Baker Street London W1U 6TU

Contact center: 0800-774-7740

Web-site: https://www.carcashpoint.co.uk/

Hyundai Capital UK

Head office’s address: 2nd Floor, London Court, 39 London Rd, Reigate RH2 9AQ

Web-site: https://hyundaicapital.co.uk/

Kia Finance UK

Head office’s address: 86 Station Rd, Redhill RH1 1DU

Contact center: +44 800-085-1925

Web-site: https://www.kia.com/uk/

Loan on your car

Head office’s address: London

Contact center: 0333-577-5000

Web-site: https://www.loanonyourcar.co.uk/

Mercedes-Benz UK

Head office’s address: London Rd, Apsley, Hemel Hempstead HP3 9SX

Web-site: https://www.mercedes-benz.co.uk/passengercars/buy/business-finance-operating-lease.html

Nissan UK

Head office’s address: Washington Road, Sunderland, Tyne & Wear, SR5 3NS, U.K.

Web-site: https://www.nissan.co.uk/

NowLoan

Head office’s address: 272 Bath St, Glasgow G2 4JR

Web-site: https://www.nowloan.co.uk/

SEAT UK

Head office’s address: Pinley House, 2 SunbeamYeomans Drive, Blakelands, Milton Keynes, MK14 5AN UK Way, Coventry, West Midlands, CV3 1ND

Web-site: https://www.seat.co.uk/

Solution Loans

Head office’s address: Hamilton House, 87-89 Bell St, Reigate RH2 7AN

Phone: +44 1737-886-202

Web-site: https://www.solution-loans.co.uk/

Tesla UK

Head office’s address: unit 3b 1st Minworth Ave, Sutton Coldfield, West Midlands, B76 1BA, United Kingdo

Phone: +44 121-686-8711

Web-site: https://www.tesla.com/en_gb/

Toyota UK

Head office’s address: London

Web-site: https://www.toyota.co.uk/

Volvo UK

Head office’s address: Scandinavia House, Norreys Drive, Maidenhead, Berkshire, SL6 4FL

Web-site: https://www.volkswagen.co.uk/en/finance-offers-and-fleet.html