New personal loan package marketed by Barclays for vehicle purchase
October 1, 2007
Barclay’s, one of the UK’s leading high street banks, has announced the launch of a new loan package geared specifically for those looking to purchase a vehicle.
The loan package will offer prospective car purchasers the chance to enjoy a competitive rate of interest coupled with a range of discounts on various vehicle related products and services, which could make the purchase of a new vehicle far more affordable for many consumers.
The loan offers a typical APR of 7.4%, and also enables borrowers to enjoy various other benefits. This includes 10% off vehicle insurance that is purchased online, a free HPI check, which can benefit those buying a second hand car, and an annual discount of 25% on any RAC breakdown package purchased by the borrower. For those wishing to purchase vehicle insurance direct from Barclay’s over the telephone, a 5% discount is available.
The loans will range from between £1000 to £25000, with a choice of repayment terms available. As with other types of Barclay’s loans customers will be able to make a loan application online, via the telephone, or by calling into a branch. The usual terms and conditions will apply, and applicants will need to have a decent credit rating in order to be eligible for the loan.
One spokesperson from Barclays 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.”
Alan Wright
1st October 2007
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