The Very Best Loans with Loantra

Short-Term Loans

Apply Today to Borrow up to £995

*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

How Car Loans Can Work for Students

It’s a well-known fact that university students have very little extra money to throw around, as a general rule. A lot of them barely have enough money to pay for groceries and rent each month, much less for a new car. However, under the right circumstances and with the right planning, car finance can be something that works well for students.

The following are a few things students can do to make car loans more affordable for them. If you are a student and you’ve been wanting a car but feel you are unable to afford it, these may change your mind.

Build Your Credit

One of the surest ways to lower the cost of a loan of any kind is to have good credit when you apply for it. Usually, good credit will make the terms of the loan better for you or just open up some more options that might be more appealing in your situation.

You can build your credit up by borrowing and paying back money in various ways. This can work by using a credit card and paying it off promptly, by taking out small loans and paying them back or just by using your bank account. Just be certain that you are making payments on time and not going into debt as you build up your credit.

Find a Co-Signer

It’s possible that as a university student your employment or source of finances isn’t very reliable. Maybe you work freelance or maybe your bills are just so tight that you aren’t sure that you will have enough to cover the cost of a car loan. If that’s the case with you, then you may want to find a co-singer for the loan.

That person should be someone you trust and who trusts you and who has a bit more money than you or is in a better financial situation. They can sign to take over the loan should you fall behind or be unable to make any more payments. They will take over the loan for you in this case, but hopefully that won’t be necessary.

Budget and Plan

A big part of being able to afford anything when your finances are tight is to make a budget and stick to it. Write out your costs every month and compare it to your income and look for ways you can scrimp and save. Maybe you can reduce your power bills or cut your internet speed back a bit. Perhaps you can save money by cutting out unnecessary entertainment costs or just eating at home more often.

The most important part of the budget, however, is that you stick to it. If you make it out but don’t do anything about it, then it won’t do you any good. You may also want someone who is more financially experienced to look over your plan for you and assess its viability. You want to be sure you are approaching the car loan with a decent plan of attack.

Compare and Apply Numerous Times

You don’t have to go with the first lender you find. You have other options, and you would do well to search out those options and then compare them with one another. Find out how much the loans are going to cost you and compare prices to find the lowest rates. That way you can save money and have a better idea of exactly what you are getting into.

The more you shop around and compare rates and terms, the better chance you will have of finding a really great deal. You can save money this way and cut your costs in such a way that you may be saving thousands of dollars over the course of the lending period.

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.