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Barclays Car Loans Review

Once you have decided to change your old vehicle, being sure you have enough money will help you make the right choice and get the best deal.

Barclays is an ultimate financing company that will offer you all the necessary resources and help you go through the process.

Barclays Car Finance – Great Way to Get a Next Car

Barclays Bank car loans are among the beneficial options available within the bank. This loan type allows you to purchase a new or used car even without having money.

Loan amounts vary from £1,000 up to £50,000, depending on the customer’s needs, his/her credit history and certain other points.

barclays car finance

The whole sum of money, together with APRs, can be paid off in term from 24 months (2 years) to 60 months (5 years).

The only thing you need to do is meet eligibility requirements, fill in the application form and get approved for the loan.

Advantages of Barclays Auto Loan

Once you have chosen Barclays to get an auto loan, you have probably estimated all the pros and cons.

Surely, as any other loan type, an auto loan has certain disadvantages and advantages.

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Still, Barclays offers the following benefits to its customers:

  • You can learn your rate before applying for the loan. Being aware of the money you may spend makes the search much easier. Usually, the company provides its clients with a completely personalized price quote without an impact on the credit history and score. With this function you can make sure you will afford this or that car.
  • 30-day price guarantee. Once you have decided to take out a loan from Barclays, and another company offers you a similar loan type, though at a lower interest rate, you have an opportunity to reduce your Barclays APR within 30 days after the agreement was signed. As a result, you will get the same APR as competitors offer, and your monthly payments will be recalculated.
  • Fixed monthly payments will help you plan your budget and make sure you can repay the loan on time.
  • Instant approval provides you with more bargaining power. Fast application process, quick approval and an opportunity to sign an agreement online guarantee you will get great deals, especially in forecourts and showrooms.
  • An opportunity to adjust your payment term is another option for you to manage your loan, in accordance with your ability to repay it. Additionally, you will have a chance to increase sum if you require more money.
  • Early loan repayment. You can always pay off your loan, though the bank will charge you with a fee equal to 30 days APR on the interests you wish to repay.

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Loan Eligibility

Once you agree with all the terms and conditions of the auto loan offered by Barclays, you need to meet definite requirements to be qualified for the loan:

  • Be a UK resident;
  • Be more than 18 years old;
  • Have an account, savings account or a card at Barclays.

If you get approved for the loan, you can use money for multiple purposes (primarily for a car), except of:

  • Property purchases;
  • Gambling expenses;
  • Timeshares;
  • Business purposes;
  • Investments, etc.

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Applying for a Car Loan

Being a client at Barclays is one of the conditions to apply for a loan. Thus, having a current Barclays account, you can log into online banking and check the provisional loan offer.

However, you can still receive a personalized price quote and obtain Barclays Car Loan within a few working days.

Log into your account, undergo a simple application process and get money to your account.

3 COMMENTS

  1. David

    Barclays Car Loan have 4.9% APR Representative. Any better?

  2. Justin

    Buying a car was the most important event in my life, so far. Thus, I took it very serious. To feel independent and know it is my own car, I needed a loan. Barclays car loan seemed to be the most reasonable, since it had affordable conditions, terms and interest rates for new cars. Despite I am still paying off the loan, I am happy about the opportunity to drive my own car.

  3. Whitney

    I was qualified for Barclay’s car loan a few months ago and can say without a hesitation that it is a beneficial issue. The lender provides a wide range of free services that make the experience beneficial. Advantageous interest rates and convenient terms, at the same time, served the main reason to apply for the loan.

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