As one of the leading providers of financial products and services in the UK, The Royal Bank of Scotland (RBS.co.uk) provides a range of loans to cover the costs of a wide variety of financial needs. One of the most common reasons that people take out bank loans is to cover the cost of a new car. A Royal Bank of Scotland car loan can be a great, affordable way to pay for your car in full with all the flexibility of a RBS unsecured loan.
While most car dealerships offer financing options on cars, they can often carry high interest rates and inflexible payment plans. The Royal Bank of Scotland offers its customers a solid alternative to this type of payment plan through its personal loans. Customers who take out a car loan from RBS can buy any vehicle they want with the money borrowed, and then spread the cost of the car over a repayment period.
Your loan will not be tied to the car itself so missed repayments won’t lead to the car being seized. A RBS car loan also comes with fixed monthly repayments that won’t change over the lifetime of your loan, so you can predict exactly how much to budget for each month. The loan comes with no upfront fees or charges, making your car payment more affordable.
The amount you can borrow with a RBS car loan ranges from £1,000 to £25,000. If you’re borrowing less than £15,000 to pay for your car, you’ll be able to pay the loan back over a term of one to five years. Larger loans of £15,000 to £25,000 can be repaid over a seven year term if you want to stretch the length of the loan out further.
Current account holders with The Royal Bank of Scotland can apply for a car loan through their internet banking, in their local RBS branch or over the phone.
