A car repair rarely arrives at a convenient time. A personal loan can cover the bill now and spread the cost into manageable monthly repayments.
One soft search checks a panel of FCA authorised lenders and brokers for a potential match, with no impact on your credit score. A hard credit search is only carried out when you formally apply to a lender which can affect your credit score.
What a car repair loan can help with
This is simply a personal loan used for vehicle costs. It can help when a repair is essential to keep you on the road but is more than you can cover from savings.
- An unexpected repair or breakdown
- MOT work needed to stay road legal
- Replacing a failed part such as a clutch or battery
Who can apply
Lenders set their own criteria, but as a general guide you will usually need to be a UK resident aged 18 or over, with a regular income the lender can verify, a UK bank account, and to pass the lender's own affordability and credit checks.
What a car repair loan costs
The cost depends on the amount, the rate and the term you choose. For a repair you want to clear quickly, a shorter term costs less overall, while a longer term lowers the monthly payment. High cost short term credit is capped, so you never repay more in interest and fees than you borrowed.
Other ways to cover a repair
Before borrowing, it is worth checking whether a lower cost route is open to you.
- A payment plan offered directly by the garage
- An existing warranty or breakdown cover that may pay out
- A credit union loan at a lower typical rate
How to apply
Borrowing responsibly
Take a moment to check the repayments work within your budget before applying. What matters most is the total cost over the whole term rather than the monthly amount alone, so borrow only what you genuinely need.
Every lender on our panel is authorised by the Financial Conduct Authority, and high cost short term credit is capped, so you can never repay more in interest and fees than the amount you borrowed. If money is tight, free and impartial help is available from MoneyHelper.
Representative Example: £1,000 borrowed for 18 months. 17 monthly repayments at £87.22, final repayment of £87.70. Total amount repayable £1,570.44. Interest total £570.44. Annual interest rate 59.97% (fixed). Representative APR 79.5% (Variable). Any representative monthly repayment shown is for illustration only, based on our representative APR. Your actual repayments will be confirmed by the matching lender if your application is approved.