RateSetter offers low cost, flexible used car loans to creditworthy borrowers at low APRs, with no early repayment penalties.
If you have any questions, suggestions or feedback please feel free to get in touch.
7.8% *representative APR
Hello and welcome to RateSetter, the home of peer to peer lending and one of the fastest growing used car loans websites in the UK.
RateSetter has paired thousands of lenders together with borrowers looking for loans, getting them some of the lowest rates found anywhere nationwide, giving them some of the best savings on their loan with us than with anyone else.
As a borrower, you will undoubtedly be looking to finance your new used car at the best possible price, sourcing funding for your car from whoever can give you the best rate.
Here at RateSetter we understanding this, and as such, work in such a way as to ensure that you receive a rate that is as close as possible to the rate you want, by pairing your application with lenders who are happy to lend to you at this rate.
It is important to remember that we are not a bank. Ratesetter merely facilitate the platform that brings borrowers and lenders together, allowing them to lend to each other. By doing so we are able to remove both the involvement and inflated rates that you would expect from a traditional bank, saving borrowers and lenders money.
Applying for a used car loan with RateSetter takes no time at all and you can get a soft quote for free. As a borrower wanting a loan, you can apply and get a SmartQuote in just a few minutes. You will be shown the rate, the fee, the monthly repayments and the total cost of the loan as well.
To apply online for used car loans, you will need to give RateSetter a few details. This will allow them to conduct a soft credit search and provide you with an accurate quote. If you are accepted and receive the SmartQuote, you can apply in full for a loan. This will take slightly longer but it is a straightforward process and the RateSetter customer services team are always on hand to help you make your online loan application.
Yes you can. If you want a used car loan but wish to be a lender as well, this is possible too. Once you have got your SmartQuote, you can log in and apply for money lending through the platform.
If you want to start earning with peer to peer lending, you will be able to loan money into four markets, and each offers their own respective rates of return. RateSetter's Monthly Access market is the most popular around and it offers circa 3.8% AER.
RateSetter is the trading name of Retail Money Market Limited (Company Number 7075792).
RateSetter is authorised and regulated by the Financial Conduct Authority (FCA) with the reference number 633741.
RateSetter is not covered by the Financial Services Compensation Scheme.
RateSetter is a member of CIFAS and is registered with the Information Commissioner's Office under the registration number Z2083390.
Its registered office is at 406 Great Guildford Business Square, 30 Great Guildford Street, London SE1 0HS.
*Representative APR based on £10,000 over 60 months. 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
any purpose without a licence. © Retail Money Market Limited. All rights reserved.