Mandelson considers car loan aid

BBC: The UK car industry does not need a bail-out but the government is considering help for manufacturers' financing arms, Lord Mandelson says.

He told the BBC that the industry faced problems raising finance to help would-be buyers fund new car purchases. 

Lord Mandelson said the credit crunch has meant that manufacturers' car financing arms could not raise the money needed to fund new car purchases.

"No car company is asking for a bail-out, they may be asking for help in lifting their motor finance arms, needed to fund new car purchases," he told Radio 4's The World At One.

"And it may be that in one case, commercial loans or loan guarantees from the government to assist them to bridge a very difficult period (may be needed) but that is not what I would call a bail-out."

He said both he and the Treasury were in close contact with the car companies about this issue.

In the US, as part of its rescue of the car industry in December, the government has unveiled a $6bn (£4.1bn) rescue package for GMAC - General Motors' troubled car loan arm. 

Loans News

New car loans: Let your life roll in style on the wheels of your ‘dream’ car

What is making you postpone the decision of buying a new car? Shortage of finances? Your financial position is one of the most unpredictable aspects of your life. Many times, we are compelled to sacrifice some of our dreams and desires due to unfavourable financial condition.

Purchasing a car is one of the crucial decisions one takes in life as it involves expenditure of a large sum of money. Usually, it is not possible for a common man to save money from the monthly income sufficient enough for purchasing a car.

Here comes the role of car loans. Nowadays, many lenders offer new car loans that enable a person to purchase the car of his/her dream. The loan can be repaid in easy monthly instalments.

You need to spend some time shopping around for new car loans so that you can identify the best deal in terms of interest rate, repayment period and other terms and conditions of the loan.

Online Car loans: Applying for a car loan has never been so easy

When you are thinking of buying a car one of the most important aspect is the cost. The car loan can help you to meet the cost aspect in buying a car. You have to pay the monthly installments at the agreed APR (annual personalised rate). Seeking a loan has now become easier these days. By filling an online application form you can seek a car loan.

You can apply for a car loan on the internet. There are no more hassles as it was earlier while seeking a car loan. By meagre filling up an online application form your application form will reach to a right lender. The lender after carefully analyzing your form may contact you according to your financial circumstances.

You have a variety of loan options like cheap car loan, low rate car loans, used car loans, Refinance car loans and bad credit car loans.

There are lots of benefits which you can get with a cheap car loan. You can avail a cheap secured as well as an unsecured cheap car loans as per requirement. You can have an access to the lenders who have a repaying capacity. You can avail cheap car loans for old as well as new car models. As the whole process is online, the loan is approved quickly.

The same benefits you can avail with a low rate car loans. If you are thinking to buy a used car, then a used car loan would exactly meet your expectations in seeking a car loan.
The high monthly repayments on existing car loans have made many customers across UK to go for refinance car loans. Refinance car loans involves switching loan plans for better rate of interest and effective loan management. So, if you are paying a higher rate of interest on your car loan, then you should think about the refinance of your car loan.
If you have an adverse credit history against your name then also you can seek an online car loan. Now, you can analyze the flexibility of a car loan which has been made according to your exact needs.

Its time your drove your own car

Owning a car is a dream of many. Years of traveling by public transport make people vexed. But with so many options available today, one doesn’t need to fret anymore. Almost anyone can avail fulfill his/her desire of owning a vehicle irrespective of their status. Unsecured car loans help all sorts of individuals be it a homeowner, self-employed; tenant or people with bad credit score.

Unsecured car loans, as the name suggests, do not involve any collateral. This is in turn means that even if you do own a property, you need not risk it. With the disappearance of the threat of repossession, homeowners can also make use of this loan plan. Unsecured car loans bring with it a gamut of benefits. These include fast processing due to absence of evaluation work, variable interest rate and overall a hassle free proceeding. Since the risk to lenders in the case of unsecured car loans is high, this results in short repayment term. So, even though you have safeguarded your property, be sure of your repaying ability. A thorough check in this regard shall save you from later tribulations. The loan amount, which you get also, depends upon factors, such as duration and past credit record.

The lenders in the United Kingdom cater to the need of people in varied situation. Unsecured car loans are designed in such a way so that fulfills your specific need. So, don’t delay in buying your dream car and start looking for a right lender.

Car Loans: Flexible enough to cater to your need

If you are looking for a car loan then you are at the right place. You have an option of an unsecured car loan, secured car loan, personal car loan, and adverse credit car loan. You can opt for the car loan according to your choice. An unsecured car loan could be sought without putting collateral. On the other hand secured car loan needs collateral.

Even if you have an adverse credit history then also you can seek a car loan. Don’t get worried if you do have CCJs, defaults, arrears and missed payments. In this case if you can seek an adverse credit car loan. Here in this case you also have a chance to improve your credit history.

You can avail cheap car loans too. You would be getting several advantages with it. You can avail a cheap used car loans as well as new car models. The car loans could get approved easily via online application process.

As far as secured car loans are concerned it has an edge over an unsecured car loan. The first thing is that lower interest rates are charged in a secured car loan, which you could not find in an unsecured car loan.

The second benefit that you would get is that longer repayment term will be there in a secured car loan. The repayment terms would be shorter in an unsecured car loan. Since the risk is high to the lenders in the case of an unsecured car loan, so the repayment terms are shorter.

So, according to your personal circumstances you can seek a car loan.