Personal Car Loans by RateSetter, low cost, flexible and with no early repayment penalties. Peer to peer borrowing.
If you have any questions, suggestions or feedback please feel free to get in touch.
7.8% *representative APR
Welcome to RateSetter, one of the UK’s leading peer to peer finance sites. Here at RateSetter we work to provide a safe and secure platform within which individuals can lend and borrow money between each other, without the excessive fees and poor interest rates offered by traditional lenders.
Our loans are available for any purpose, and can be paid back over a term that suits you, whether that is short-term 6 month duration or over a longer period up to 60 months.
As a borrower, you will undoubtedly be looking for the best possible rate available when financing your new car. At RateSetter we can offer you this, giving our personal car loan borrowers some of the lowest rates available for car loans found anywhere nationwide.
Our car finance rates are significantly lower than that of a bank or traditional high street lender, with the reason for this being that we’re not a bank, instead, we facilitate the platform within which private individuals are able to lend to and borrow from each other, in a safe and secure environment.
What this means for you and your personal car loan is that you can borrow without the high rates and fees that are usually associated with a bank loan. This is because unlike a bank, we don’t profit off your loans, instead, we make our money processing applications, not by increasing the rate at which you have to pay it back, pocketing the difference.
Applying for car loans with us couldn’t be easier. Simply navigate your way to our SmartQuote engine and begin the application process by selecting the amount on money you wish to borrow and the term you’d like to pay it back over. Once this is complete you will be provided with a quotation on your loan, detailing your monthly repayments and the loans total cost.
If you are happy to proceed with the quote that has been given to you, simply continue onto the next step where you will be prompted for all the usual details you would be asked for when completing a loan application anywhere. Once we have all these details we will conduct a soft credit check, which allows us to review your suitability for a loan without impacting on your credit profile. If this is successful and everything is in order with your application, your loan will be approved and paid out to you within 1 working day.
Of course you can! Lending with us is seen by many as an alternative to saving with a bank, as the money lent through us will typically yield a typical interest rate of 6% AER, which is far more than any high street bank will.
To start lending with us is easy. All you need to do is find your way to the lender section of our website and complete your application to become one of our lenders. Once this has been approved you will be able to start lending almost immediately, putting your savings to better use than leaving them with your bank and its dismal savings rates.
If you are interested in becoming a lender and have any questions, please do not hesitate to get in touch with one of our representatives. To contact them, simply use the details provided on our contact page, allowing you to contact them by phone, email or using the contact form provided on site. We welcome and appreciate all feedback, so if you would like to comment on any aspect of our service please use the same details found on our contact page. We look forward to all correspondence from our users and will do our very best to respond to these as quickly as we can.
RateSetter is a trademark of Retail Money Market Limited (Company Number 7075792)
Retail Money Market is licensed by the OFT, a member of CIFAS and registered under the Data Protection Act
*Representative APR and lender rates based on the last matched rates on RateSetter. They include all fees. Lender rates assume full reinvestment
of repayments at the current last matched rates throughout the term and assumes any bad debt can be covered by the RateSetter Provision Fund.
Data from the RateSetter website (including market data) is protected by © and database rights. It may not be used for
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