Personal car finance

Secured Car Loan

This type of finance gives you the assurance of a fixed interest rate for the life of the loan. You'll be protected from any interest rate rises, and your regular repayments will remain the same. Plus, since your car is offered as security for the loan, the interest rate will be lower.

Offering your car as security acts as a guarantee for your loan repayments. If you cannot repay the loan, the lender can sell your car to recover the cost of the loan. If there is a shortfall after sale, you will be required to pay the lender the outstanding loan amount, including interest, fees and charges.