Sainsbury's Bank

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Sainsbury’s Bank (sainsburysbank.co.uk) has a variety of personal loans on offer that can be used to cover a range of different purchases. Many people find loans useful for paying for new cars, as the loan allows them to buy their car upfront without having to blow all of their savings in one go. Sainsbury’s Bank offers car loans to help its customers spread the cost of their new car over a period of time, potentially saving them money and getting them behind the wheel faster.

Taking out a loan from Sainsbury’s Bank could help you pay for your car without making a finance deal with the dealership or paying for he car yourself upfront. By using a Sainsbury’s Bank car loan, you can pay the full cost of the car in one go, so the car is completely yours from the start, and pay back the loan over a flexible period of time in fixed monthly installments. Sainsbury’s Bank’s fixed rates allow you to budget your repayments in each month, and the loan comes with no upfront charges or fees.

Sainsbury’s Bank offers two different types of car loan. Sainsbury’s shoppers can take out a Shopper Reward Loan. This personal loan gives you 5,000 bonus Nectar points and double Nectar points for the first two years of your loan, which can be used to claim rewards or cashback. The interest rate of the Shopper Reward Loan varies depending on your personal circumstances, the amount of money borrowed and the length of the loan.

Customers can also take out a Sainsbury’s Standard Loan to cover the costs of their new car. This loan comes with a Price Promise, so Sainsbury’s will beat any lower rate from a different bank on a like for like basis. The interest rate on the Standard Loan will likely be lower than the Shopper Reward Loan, but you won’t be able to claim Nectar points on the product.

Customers can apply for their Sainsbury’s Bank car loan online or by phone.

91 Reviews of Sainsbury's Bank have been submitted - read the latest 3 below

Once I had made up my mind as to which of the Sainsburys Bank loans to go with the rest was really quite straightforward. I did get a little bit sidetracked thinking about what I could possibly do with all the extra Nectar points but in the end I decided that the Standard Loan with the lower rate and the price promise guarantee would be the best choice. I was borrowing a lot to buy a new car but if I'd been borrowing a smaller amount I might have been tempted to go with the Shopper Reward Loan. They are both equally good depending on what you want from your loan. For me at this present time is was all about getting the lowest possible rate for the loan so that I could purchase my new car without having any regrets about taking on such a large loan.

Review posted by Maggie Peacock, Slough

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The Sainsburys Standard Loan was the perfect choice for my car finance and with it coming with a Price Promise to beat any like for like loan I didn't have to spend too much time researching other loans because I could already see that Sainsburys were offering one of the best APRs for this type of loan just by scrolling through the loan comparison websites a few times. Even if I had opted for the Shopper Reward Loan I think I would still have got one of the best car finance loans available at the moment. I don't think I would have made good enough use of the extra Nectar points to justify going with the Shopper Reward Loan but I can see why some people might find it quite appealing.

Review posted by Colin Jessop, Winchester

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It was a bit of a dilemma for me whether to choose the Shopper Reward Loan or the Standard Loan but in the end because I was taking out quite a large loan I had to be practical and opt for the Shopper Reward Loan! Yes folks, I do mean the Shopper Reward Loan because to ignore the chance of getting my hands on all those lovely extra Nectar points would just be too awful for words. Who cares about a slightly lower interest rate with the Standard Loan (well actually my husband did) when you can amass so many Nectar Points. 5000 extra to start with and then double points for the first 2 years of the loan. If choosing the Shopper Reward Loan wasn't being practical then I don't know what is. My husband is still debating the point but as this is my loan for my new car that I'll be working hard to repay I think the final decision should be mine.

Review posted by Donna Leighton, Bexleyheath

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