As the largest retail and commercial bank in the United Kingdom, NatWest (Natwest.com) is also one of the biggest providers of personal loans and financial services to UK residents. Amongst its many products and services, NatWest offers its customers Car Loans, which can be taken out to buy any car up to a value of £25,000. The loan is not tied to any particular car, and can be used to buy any vehicle.
The Car Loan works in a similar way to a NatWest Personal Loan. Customers can use the loan to combine with their own savings and cash to pay for their car upfront, instead of having to make a payment plan with a dealer or manufacturer. This puts the loan in your hands and leaves you with more flexibility and control, and gives you more choice about the length of the repayment schedule. Taking out a Car Loan also means that the car is fully yours from the moment you purchase it, and has been paid off upfront.
If you are over 18 and already hold a NatWest Current Account, you could be eligible for a NatWest Car Loan. The minimum loan amount is £1,000, and you can apply for a maximum of £25,000. The cost of the car repayments can then be spread over a period of one to seven years- or one to five years if you borrow less than £15,000. The repayments are made at a fixed sum, making it easy to budget your finances.
Customers can apply online for an instant quote which has no obligation and no bearing on their credit rating. If they accept the quote, they can then apply for their loan straight away, and find out instantly whether their loan has been approved. If the quote has been accepted and confirmed, the money could be in your account within the next working day, allowing you to purchase your car straight away.
