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.
