Car is no longer a luxury only the noble families can afford to drive. Owning a car has somewhat become essential to the daily life of people. Nevertheless, only a few can afford it without car loans because of the heavy price.
At EasyLoanHub, we provide low-interest car loans in the UK with a diverse profile of customers. We have a simple lending policy that is embellished with flexibility. You will not have any confusion in availing our service or if you have, you can contact us anytime. We try to serve as many people as possible who can afford to manage the instalments without burying under the debt.
The car loans process is kept simple and straightforward. There is no dealership involved that may charge its fees as middlemen. Moreover, you can apply any time, any day you want, even on the bank holidays.
As mentioned above, the personal car loans application process is kept simple and straightforward for the borrowers. There is no physical paperwork required to get the approval. The whole process is online to increase efficiency and transparency.
You can start the loan process by completing a single-page online form on our website. You need to fill in the personal details and upload the required documents. There is no need to visit the office to stand in the long queues.
Our representative will start working on the application in no time. They will verify the details and assess your financial status. We take only a few minutes to approve your car loan application, which is very unlike conventional lending institutions.
Within 24 hours, we transfer the loan to your bank account. You need to submit the account details for the transfer. The same account will be used for repayment if you want to automate the instalments.
One primary reason the bank rejects the car loans application is flawed credit history. On the contrary, we provide loans to the borrowers based on their present financial condition. Your application does not have any impact of what you have done in the past.
However, we may reject the application if the ratings are extremely poor. We don’t want our customers to get trapped in a cycle of debt. We suggest you to wait for bad credit car loans if you have multiple debts to clear or any previous loan repayment is pending.
We follow only soft or no credit check policy to offer loans on the borrower's current loan affordability. Unlike the hard enquiry, it doesn’t leave any trail behind to further cause damage to the credit history. In the end, we will offer a personalised offer based on your credit profile to ease the stress of repayment.
Cheap car loans are often associated with a happy occasion when people drive home a fancy car to their garage. However, this is not the case as sometimes, you are forced to buy a new vehicle. Here are some situations where car loans should remain your first option –
You have started your career with the goals to live in a dream house and drive to work in a luxurious car. If there are enough savings for the down payment, it is time to buy the car you always wanted with secured loans against the car. However, make sure you have a solid repayment plan apart from a down payment to avoid needless stress on the budget.
Your vehicle might have given up on you with the final nail in the coffin. You can make a choice between spending money on its repair by using your savings or borrowing money through a car repair loan. The latter option is more practical. Therefore, apply for car loans instead of dwelling on the sentiments attached to the old car.
Some businesses are dependent on their fleet of vehicles for many purposes. It may be related to delivery of the product, doorstep service and selling products through a mobile store. You can borrow money through online car loans to take your business to another level.
Traditionally, business loans involve complicated process to bring funds for the borrowers. It is easier to get no credit check car loans since there is no need to submit unnecessary documents.
You don’t need to look far if you live in the UK to get car title loans. There are numerous banks, direct lenders, and credit union providing the service to potential borrowers. Some differences are there in the qualifying conditions, policies and the application procedure.
The traditional places to get cheap car loans are still the first choice of borrowers. They may offer lower interest rates, but the eligibility criteria are strict. Also, the process is lengthy with the paperwork and approval from higher authorities within the organisation.
Direct lenders are the perfect alternatives of the banks if you don’t have a perfect profile. We offer personal car loans on your current loan affordability and repayment capacity. Therefore, you do not need any third person like broker to reach us and apply for a loan.
The good old credit unions are still quite helpful only if you are a member of one. The services, branches, and ATMs are very limited. And don’t expect them to provide a personalised experience to the borrowers.
We can offer you car loans even if you are not earning a full-time income. It doesn’t mean that the approval doesn’t require a source of income. Any other source of income will work as long as the income is enough to manage the loan repayment along with the other expenses.
It includes income from a parttime job that makes student car loans a possibility. Your earnings from any side hustle will also qualify as an eligible income source. Moreover, people living on pensions and benefits from government schemes can apply as well.
Businesses can submit account statements as proof of income and cash inflow. Therefore, income and affordability are the only concern for us, not its source.
Following categories of borrowers can apply for bad credit car loans :-
We try our best to provide the most affordable solution to our customers. However, some efforts on your part can help us make the deal more towards your benefit. Here are some suggestions for you to get the best car loans in the UK.
Increase Down Payment
You must be aspiring for having low interest car loans to your favour. Therefore, you should increase the down payment to achieve this. It will reduce the required loan amount that makes the repayment easy. Also, you will enjoy more equity over the vehicle for some future benefits.
Increase the Affordability
You can increase the affordability of the loan by working on your financial condition. A secondary source of income is a good start to get some additional support. This can include a parttime job or a side hustle such as selling stuff online.
Your list of debts also hurt your chances of approval for a better deal. You can repay the small loans to make room for the instalments of car repair loans. It also helps in your credit score enhancement.
As a responsible borrower, you should do in in-depth comparison of various deals on car loans in the UK online. It will help you to judge where to get the competitive interest rate and affordable repayment plans on bad credit car loans. The flexibility offered during the tenure is equally essential if you face financial distress.
You can use the cheap car loans calculator on our website to calculate the overall cost, instalments, and interest paid overtime. This will help you find the affordability of the loan. We recommend you focus on the instalments more than the overall cost to make the repayment manageable.
We have already mentioned plenty of reasons above to answer this question. Still, some points need special mention to help you make a decision. Here are some more reasons to choose EasyLoanHub for car loans in the UK –
Unparalleled Customer Support
Our representative will guide you throughout the loan tenure. You can clear any doubt and confusion regarding our service by discussing with them. They are professional enough to solve your each query anytime and anywhere.
Flexible Repayment Terms
Borrowers can decide on the loan tenure and the date of repayment. This helps them keep the repayment in control and instalments in sync with their paycheque. You can request for term extension without the need foran additional loan.
Online Debt Management
Our online services include debt management, as well. You can pay the instalments online while tracking thecar loans repayment. It will provide a better insight into your financial condition to create a better long-term strategy.
You don’t have to wait for the clock to strike 10 if you want to apply for a loan. Visit the online application page and get approval within the next few hours.
A car loan is considered a big debt so most of the lenders take the credit score of the borrower into consideration. But, there are few lenders who offer car finance even with bad credit. However, there are lenders might check other financial aspects such as your income status, credit ratio, employment history and others. If you somehow manage to prove your repayment capacity, then you can get the loan without any inconvenience.