Car Loans

To apply for a loan with Novuna Personal Finance, and to help you get the best car loan rates, it’s important you meet the following criteria. You must:

• Be aged 21 or over
• Be a permanent UK resident, and have been living in the UK for at least 3 years
• Be in permanent paid employment, self-employed or retired with a pension
• Have an income greater than £10,000
• Have a bank or building society account
• Have a good credit history

Please don't make additional applications within quick succession of each other as this could impact your likelihood of acceptance. If you already have an existing personal loan application, but it no longer meets your requirements, you’ll need to contact our Loans team on 0343 351 9112 rather than making an additional application.

Our low-rate car loans start from just 6.9% APR Representative on loans between £7,500 and £25,000. While the majority of our customers are given the advertised rate, the APR you're offered may vary depending on the amount you wish to borrow, the length of the term you choose and your own personal circumstances.

As we don’t charge any additional fees, the APR and interest rate is the same when you take out a loan with Novuna Personal Finance. Find out more about the difference between APR and interest rates here.

You’ll spread the cost of your car over more manageable monthly repayments. The cost of these repayments will be determined by the interest rate you’re offered, the amount of money you want to borrow and over how long.

Our car loans are fixed rate, so you’ll pay the same amount each month until your loan is settled. After your first payment, you can even change the date of your repayments so you’ll know exactly how much money is leaving your account and when.

Yes, you can settle your agreement in full or make an overpayment at any time during the term of your agreement.

Overpayments will be used to reduce the duration of your car loan agreement rather than the monthly payment amount, so you’ll continue to pay your monthly Direct Debit as usual until the debt is repaid.

Simply head to your online account or app to make an overpayment or settle your loan. Alternatively, give our friendly Customer Service Team a call on 0344 375 5500.

When you take out a personal loan, the cash you need will be deposited straight into your account. This gives you complete flexibility when it comes to buying a vehicle using a personal loan as you’ll essentially have the cash in your pocket ready to go.

It’s simple to apply for a personal loan online and, once your application is accepted and completed, the money will be yours within two working days. Then it’s time for the fun part – finding the right car for you.

Yes, you are eligible to apply for a Novuna Personal Finance loan if you’re self-employed.

However, we recommend only applying for a car loan if you meet our other criteria: you must be over 21 years of age, be a permanent UK resident, have a bank or building society account, have an income greater than £10,000, and have a good credit history.

Our car loans are unsecured, so you won’t need to put up any collateral. The lending decision will be made based on your creditworthiness, personal circumstances, loan amount and term instead.

If you fail to make your repayments, you won’t lose your car but your credit score and ability to borrow in the future could be impacted. Find out about the difference between secured and unsecured loans here.