Bank of Scotland Car Loans

Top deals

Top rate

AA

6.3%
£5,000 - £7,499
1-7 years

Check eligibility Representative Example: The representative APR is 6.3% so if you borrow £7,000 over 5 years at a rate of 6.3% (fixed) you will repay £135.74 per month & total amount payable £8,144.23.

Post Office

7.3%
£5,000 - £7,499
1-7 years

Check eligibility Representative Example: The representative APR is 7.3% so if you borrow £7,000 over 5 years at a rate of 7.3% (fixed) you will repay £138.83 per month & total amount payable £8,329.70.

Santander

7.4%
£5,000 - £7,499
1-5 years

Check eligibility Representative Example: The representative APR is 7.4% so if you borrow £7,000 over 5 years at a rate of 7.4% (fixed) you will repay £139.14 per month & total amount payable £8,348.30.

Compare Bank of Scotland car loans

Bank of Scotland offer personal unsecured loans which can be an ideal option for funding a new car purchase, or refinancing an existing loan to reduce your monthly repayments. Bank of Scotland car loans are currently offering low APRs.

Because Bank of Scotland car loans are unsecured it can be fairly fast and simple to apply for this type of credit. They also offer more than many other providers, with an upper limit of £50,000. The exact amount you can borrow and the interest rate you receive may vary depending on your personal circumstances.

If you are interested in taking out a car loan from Bank of Scotland, you should familiarise yourself with the benefits and restrictions that apply.

Benefits of Bank of Scotland car loans

Get a Bank of Scotland car loan and benefit from the following:

Borrow from £1,000 to £50,000
Repay over 1-7 years
Fixed monthly repayments
APR from 3.6%
No arrangement fee

Restrictions on Bank of Scotland car loans

If you decide to apply for a Bank of Scotland car loan, please remember:

You must be 18 or over
You must be an existing Bank of Scotland customer
You must be employed or have another regular source of income
You must have a permanent UK address
You cannot be in full-time education
The final APR you receive may be different from the representative APR quoted above
Failing to stay on top of your repayments could damage your credit rating
If you do not repay your loan, your account could be passed to a county court-appointed bailiff to recover the debt

Alternatives to Bank of Scotland car loans

For borrowing over £25,000, a secured loan may make more sense. This involves tying the debt to your home and in exchange you are likely to be able to borrow more over a longer period than with unsecured borrowing. You may also be offered a lower APR, although this depends on various factors.

Secured borrowing is usually dependent on a calculation of your loan-to-value (LTR) ratio. This is a way of showing how much you want to borrow against your home (including any existing mortgage or other secured debt) relative to the market value of your home. A lower LTV will usually result in a lower APR.

If you do choose to take out a loan secured against your home, you need to make sure you keep up with your repayments. Failure to do so could put your home at risk, as well as making it harder to borrow more in future.

Get the best rates on car loans

With many different lenders providing car loans, it can be difficult to know which to go for. Our car loan comparison tool (found at the top of the page) offers a stress-free way of examining the best offers from across the market to see which is best for your needs. That way you can get the best possible value on your car loan.

How much do you wish to borrow?