The Very Best Loans with Loantra

Short-Term Loans

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*Online decision

*Responsible lenders

*Rates from 278% to 1576%

*3-12 month repayment

Personal Loans

Apply Today to Borrow up to £25,000

*Instant Decision

*60-Second Application Form

*Rates from 4.7% to 278%

*3-36 month repayment

What Loantra can do for You

Your Car Finance Options

We’re taking a look at some car finance choices you may have. Now, not all of these will be available at every place you go to, but you should be aware of your options. If you don’t find what you are looking for at one lender, then it makes sense to keep on looking until you find a suitable car finance option.

The most common types of car finance options are hire purchase and conditional sale. We’ll cover both of those here for you so that you can be more informed about your choices.

Hire Purchase

With a hire purchase agreement, you can own the car after you fulfill the terms of the agreement. Before it’s all paid off, though, you don’t really own the car. With this type of loan, you normally pay a fixed interest cost. That means that the interest rate never changes. That can usually mean a higher than normal starting cost, but it may even out over time, as other types of interest plans tend to charge much more later on.

The lending period is also a fixed number. In most cases, that period is 3-4 years. The lenders are often quite flexible about the terms of the agreement, so you don’t necessarily have to be stuck with a certain set of lending terms you aren’t happy with. Many times, the lenders will be happy to talk to you about different options for the lending period, interest rates and other factors that make up the loan.

For this kind of car finance loan, you are registered as the keeper of the car. You don’t own it, but you are supposed to take care of it and maintain it. You also have to take care of the insurance for it. Until the loan is paid off, the lending company is the owner of the vehicle, and even when it is paid off, you may not be the owner yet. At the end of the lending period, you will be given the option to purchase. This may or may not require an additional cost than the base amount of the loan.


Conditional Sale

With a conditional sale agreement, the terms are basically the same as the hire purchase. The difference is that you automatically own the car at the end of the lending period. Once you have made all your payments, you receive full ownership of the car. There is neither an “option to purchase” or a fee you have to pay in addition to what is owed for the loan. Simply repaying the loan in full is enough to grant you ownership.

Talk to your lender about what they offer and make sure they have the type of loan agreement that would suit you best. For some, the hire purchase is the best way to go because it gives them a trial period to decide if they like the car. The conditional sale does not offer that option, and it can be helpful to leave your options open.

See How We Compare to Our Competitors

Loan amount
£500 - £20,000
Loan term
12 - 60 Months
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Loan amount
£500 - £100,000
Loan term
1 - 18 Months
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Loantra is a licensed credit broker and not a lender.

We will never charge you for our service and the lender will not increase the rate to cover our fee to them.

We work with over 40 different lenders to bring you the very best rates from across the UK market.

Representative 305.9% APR. Representative example: £400 borrowed for 90 days.

Total amount repayable is £561.92 in 3 monthly instalments of £187.31.

Interest charged is £161.92, interest rate 161.9% (variable)

Warning: Late repayment can cause you serious money problems. For help, go to moneyadvice.org.uk.

Do not borrow more than you can pay back as defaulting on payments can lead to serious monetary problems.

Any collateral you have against the amount may be at risk of repossession.

5 most recent personal loan reviews

Review of Natwest

My personal loan from NatWest was planned in advance because I like to do plenty of research before committing to something as important as a building extension. I wanted to make sure the loan would be possible and that it was at a competitive rate before I started employing architects and builders. I was in regular contact with our local branch’s loan adviser and they finally sorted out a very good loan for me and once that was agreed I got on to the job of planning this extension. We’d already had the go ahead from the local council so it was all systems go once that all important loan was finalised. Sometimes it’s best to deal with your own bank for such an important loan and I am pleased that I entrusted NatWest with my loan.

Review posted by Wayne Crouch, Plymouth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of U Switch

In our position your company treats us well. We have the income but unfortunately due to circumstances beyond our control our credit rating is bad. Thank you Uswitch for giving us a chance.

Review posted by Neil Morrison, Perth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Wonga

Suprised at ease of application. Never wanted to use these kind of things but had a very tough month and needed a few pounds before payday. After checking different options I found the small amount to payback manageable and it’s all payed back 2 days after payday. Easy process with quick response.

Review posted by Anthony Bell, Chelmsford

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

All reviews have been sourced from Trust Pilot to ensure authenticity of testimonials.