Flexible cheap car loans from RateSetter

7.8% *representative APR

Hello and welcome to RateSetter, one of the UK’s leading peer to peer lending websites, allowing private individuals to lend to and borrow from each other, without having to pay the banks. This allows you to source cheap car loans with us that are at some of the lowest rates found anywhere nationwide, giving you significant savings on your used or new car purchase.

At RateSetter our loans are available for any purpose, whether you need money for a holiday, home improvements or car finance, and will always be offered at considerable better rates than would be available at your bank or other traditional lender.

We are able to do this as we are not a bank. Instead, we merely facilitate a platform on which private lenders and borrowers can find each other, at a rate that satisfies both parties, leading to cheap car loans for you and better interest on savings for those who lend with us.

It’s safe to assume that your search for a lower rate on your new car loan is what brought you here, and for good reason, as we can offer some of the cheapest car loan rates found anywhere in the UK.

We are able to offer such good rates as we work with a host of private lenders, all of whom set their own terms for the loan, as you also will as a borrower. We then work to pair these offers together, finding lenders prepared to lend money to you at the rate you wish to be, simplifying the process of financing your new car without the expense of sourcing finance from a bank, keeping happy borrowers and lenders alike.

Applying for a cheap car loan with one of our lenders is simple. All you will need to do is complete our SmartQuote process, providing details of how much you wish to borrow and over what term to give you a quote for your car finance. If, after receiving this quote, you decide that you are happy to go ahead with the offer, simply move onto the next step of our application process where you will be prompted for all the usual personal and financial information needed to complete your loan application.

Our back office staff will then process your application, putting you through a soft credit check that won’t impact on your credit rating, and paying out your loan within 1 working day if your application is approved.

If you require further information about us, our cheap car loans and how it works, please do not hesitate to get in touch with one of our customer representatives. They can be reach in a number of ways, by phone, email or via the contact form provided on our website. We will do our best to respond to your questions and queries as quickly as possible, usually within 24 hours of our receiving them.

Alternatively, should you have any other comments and feedback for us about our site, service, or indeed anything else, please feel free to contact us using the same details provided onsite.