If you are at university and need a car, it can be hard to get hold of enough cash to buy one that is going to be reliable enough for the sort of distances you are going to need to travel. You may therefore need to check out student loans to buy a car.
You should make sure you do a full comparison of all the student car loan deals available to you before making a decision. You should beware of high interest rates, and make sure you read all the small print because there may be fees and redemption charges attached to some deals.
When looking at student loans to buy a car, make sure:
- You can afford the repayments - taking into account the other expenses that having a car brings i.e. insurance, tax, repairs, breakdown cover, fuel, parking, and servicing
- You choose a payment plan to suit your circumstances - the length of time affects the repayments – the shorter the loan term, the lower the interest rate will be. A deposit will also keep the cost right down.
You can use our FREE car loan calculator to compare the leading UK car loan deals available to find the one to student car loan to suit your budget and circumstances.