Barclays aims to make vehicle purchase more affordable
May 29, 2008
Barclays Bank is aiming to make vehicle purchasing more affordable and convenient for potential buyers with decent credit, and has put together a new package to try and do this. The car loan deal, which was recently introduced by the bank, targets those looking to buy either a new or a used car, and enables borrowers to enjoy affordable repayments, competitive rates of interest, and a host of other benefits that will prove valuable to those purchasing a vehicle.
According to Barclay’s officials borrowers will be able to borrow between £1000 and £25,000 depending on their financial status, credit history, and other eligibility factors. The interest rate, which comes in at around 7.4% typical APR, is a competitive one states Barclays, and there are a number of other benefits that could prove invaluable to car purchasers. Those purchasing car insurance from Barclays via the telephone can enjoy 5% off their cover, and those going online to purchase their cover will enjoy double the savings with 10% off.
A free HPI check worth around £40 is also included as part of the deal, as is an impressive annual discount of 25% on any RAC breakdown and recovery package. This can mean extra savings and increased convenience for those taking out these car loans. A decent credit rating is required to qualify for one of these loans, and applications can be made in person, by phone, or online.
With the arrival of the new number plate many consumers will be able to enjoy a better deal on their car finance with this deal according to the bank. One official stated: “Many motorists will find that this is a much better rate than they would get on a car finance deal, plus they have the additional benefits of the RAC discount and the essential free HPI check. With the launch of the latest ‘57′ number plates just around the corner, it is a great time of year to be upgrade your vehicle and this loan package could really help.”
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