Yorkshire Bank Car Loan
Compare Yorkshire Bank car loans
Yorkshire Bank offer car loans with APRs from as low as 3.7%, making them an attractive option for borrowers. Whether you are planning a new car purchase or thinking about refinancing to bring down your monthly payments, a bank loan can be cheaper than taking out car dealership finance.
The car loans Yorkshire Bank offers are a form of unsecured borrowing, which means you can usually get a quick decision and the application process is generally fairly straightforward. The exact amount you can borrow and the APR you pay will depend on your personal finances and credit history.
When looking at a Yorkshire Bank car loan, it is a good idea to familiarise yourself with the essential details of their loan packages.
Benefits of Yorkshire Bank car loans
Yorkshire Bank car loan customers can take advantage of the following:
- Borrow from £1,000 to £25,000
- Repay over 1-5 years
- Fixed monthly repayments
- APR from 3.7%
Restrictions on Yorkshire Bank car loans
When choosing a Yorkshire Bank car loan, the following conditions apply:
- You must be at least 18 years old
- You must have a permanent UK address
- You must have a UK bank account
- You may be charged up to 58 days’ interest for early repayment, either in part of full
- The APR you are offered may be different from the rate quote above, depending on the amount you wish to borrow and your personal financial circumstances
- If may affect your credit rating if you do not keep on top of your loan repayments
- Failing to repay your loan may lead to your account being referred to a county court-appointed bailiff for recovery of the debt
Alternatives to Yorkshire Bank car loans
Sometimes £25,000 isn’t enough to cover the car purchase you want to make. In those situations you may want to consider secured borrowing. This can allow you to borrow much more and over a far longer period. It may also get you a better APR although this is influenced by several variables.
The exact details of how much you can borrow and the interest rate you will be offered will be significantly influenced by your loan-to-value (LTV) ratio. This represent the total amount of debt you wish to secure against your property (including existing loans, like your mortgage) relative to the market value of your home. The lower your LTV, the better APR you will normally receive.
When taking out any kind of secured loan, you must understand that failing to stick to your repayment schedule could put your home at risk. It is therefore vital that you are realistic about your ability to make the minimum monthly repayments.
Get the best rates on car loans
Yorkshire Bank have a number of competitors across the industry offering car loans to their customers. Our car loan calculator, found at the top of this page, lets you see the best deals from across the market to easily find the best value for your borrowing needs.