{"id":1469,"date":"2023-04-06T18:07:32","date_gmt":"2023-04-06T16:07:32","guid":{"rendered":"https:\/\/globalautoimports.eu\/england\/?p=1469"},"modified":"2023-04-06T19:43:55","modified_gmt":"2023-04-06T17:43:55","slug":"how-to-take-a-car-in-instalments-in-the-uk","status":"publish","type":"post","link":"https:\/\/globalautoimports.eu\/en\/blog\/2023\/04\/06\/how-to-take-a-car-in-instalments-in-the-uk\/","title":{"rendered":"How to take a car in instalments in the UK?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1469\" class=\"elementor elementor-1469\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6103aa59 elementor-section-full_width elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"6103aa59\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7f17662f\" data-id=\"7f17662f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-3b755b78 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"3b755b78\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-4bf922a6\" data-id=\"4bf922a6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-00250ad elementor-widget elementor-widget-wpr-post-title\" data-id=\"00250ad\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"wpr-post-title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"wpr-post-title\">How to take a car in instalments in the UK?<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4b249ad wpr-post-info-align-left elementor-widget elementor-widget-wpr-post-info\" data-id=\"4b249ad\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"wpr-post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"wpr-post-info wpr-post-info-vertical\"><li class=\"wpr-post-info-taxonomy\"><a href=\"https:\/\/globalautoimports.eu\/en\/blog\/category\/finances\/\">Finances<span class=\"tax-sep\">, <\/span><\/a><a href=\"https:\/\/globalautoimports.eu\/en\/blog\/category\/guide\/\">Guide<\/a><\/li><li class=\"wpr-post-info-date\"><a href=\"https:\/\/globalautoimports.eu\/en\/blog\/2023\/04\/06\/\"><span>2023-04-06<\/span><\/a><\/li><\/ul>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a90e38c elementor-section-full_width elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"a90e38c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-dbf28e0\" data-id=\"dbf28e0\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-fbab6f1 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"fbab6f1\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-6786e08\" data-id=\"6786e08\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9759c81 elementor-widget elementor-widget-image\" data-id=\"9759c81\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1000\" height=\"725\" src=\"https:\/\/globalautoimports.eu\/en\/wp-content\/uploads\/sites\/5\/2023\/04\/jak-wziac-samochod-na-raty-w-uk.jpg\" class=\"attachment-full size-full wp-image-1473\" alt=\"How to take a car in instalments in the UK?\" srcset=\"https:\/\/globalautoimports.eu\/en\/wp-content\/uploads\/sites\/5\/2023\/04\/jak-wziac-samochod-na-raty-w-uk.jpg 1000w, https:\/\/globalautoimports.eu\/en\/wp-content\/uploads\/sites\/5\/2023\/04\/jak-wziac-samochod-na-raty-w-uk-300x218.jpg 300w, https:\/\/globalautoimports.eu\/en\/wp-content\/uploads\/sites\/5\/2023\/04\/jak-wziac-samochod-na-raty-w-uk-768x557.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-135f3af elementor-section-full_width elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"135f3af\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-44af797\" data-id=\"44af797\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-42f7e22 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"42f7e22\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-8dc05a5\" data-id=\"8dc05a5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b1c2c99 elementor-widget elementor-widget-text-editor\" data-id=\"b1c2c99\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tBuying a car in installments is a convenient solution not only in Poland. Drivers in Great Britain also willingly use this option when looking for the best installment loan offers. While we all know our home market well and know where to go for such a loan, living in the UK as a foreigner can feel a bit lost. Can you buy a used car with a loan here? How to take a car in installments in the UK? \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-67973ba elementor-widget elementor-widget-text-editor\" data-id=\"67973ba\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In this article you will learn:<\/p><ul><li><a href=\"#carloaninpoland\">Car loans in Poland.<\/a><\/li><li><a href=\"#whatisworthknowing\">What is worth knowing about car loans in the UK?<\/a><\/li><li><a href=\"#creditworthiness\">Creditworthiness in the UK &#8211; Credit Score.<\/a><\/li><li><a href=\"#carinstalments\">Where to take a loan to buy a car in the UK?<\/a><\/li><\/ul><p>\u00a0<\/p><p>You may be interested in:<\/p><ul><li>How do you drive an &#8220;Englishman&#8221; in Poland?<\/li><li>What is V5C?<\/li><li>ABI categories &#8211; what is it?<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-73044c5 elementor-widget elementor-widget-menu-anchor\" data-id=\"73044c5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"carloaninpoland\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2cc2e4e elementor-widget elementor-widget-text-editor\" data-id=\"2cc2e4e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h4>Car loan in Poland<\/h4>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cad0950 elementor-widget elementor-widget-text-editor\" data-id=\"cad0950\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>If you want to buy a vehicle with an instalment payment, we usually go to several banks or agencies. We initially ask about the current offer, the interest rate on the loan, the number of instalments and the possibility of early repayment. Alternatively, if you buy a used car in a second-hand shop or from a car dealership, we can ask about the possibility of crediting here. This solution is so popular that there is no longer even a need to appear in the seller&#8217;s office in person. We will get to know offers for credit or leasing online, using websites specialised in this field &#8211; for example <a href=\"https:\/\/ratymoto.pl\/\" target=\"_blank\" rel=\"noopener\">here<\/a> . If the buyer can demonstrate an impeccable credit history, he chooses the most advantageous offer and concludes the contract.<\/p><p>Is it similar in the UK?<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-07e8c7f elementor-widget elementor-widget-menu-anchor\" data-id=\"07e8c7f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"whatisworthknowing\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b3737e0 elementor-widget elementor-widget-text-editor\" data-id=\"b3737e0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h4>Car loan in the UK \u2013 what is worth knowing<\/h4>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ae87df4 elementor-widget elementor-widget-text-editor\" data-id=\"ae87df4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong>APR &#8211; Annual Percentage Rate<\/strong>\u00a0&#8211; annual interest rate.<\/li><li><strong>Debt-to-income<\/strong> \u2013 the ratio of the applicant&#8217;s total income to his fixed monthly expenses. Each lender has its own guidelines as to the maximum percentage of the loan instalment in the borrower&#8217;s liabilities. Some banks recognise that the instalment cannot exceed 40% of income, others that 30%.<\/li><li><strong>Early Repayment Charge<\/strong>\u00a0&#8211; a fee charged by the bank \/ company in the event of early repayment of the loan than provided for in the concluded contract.<\/li><li><strong>Set Up Free<\/strong>\u00a0\u2013 usually a fixed fee that the bank \/ company imposes right after granting the borrower a loan.<\/li><li><strong>Secured Personal Loan<\/strong>\u00a0\u2013 an element of the concluded contract is a declared object (car, real estate), which constitutes a pledge in the event of the loan being unable to be repaid.\u00a0This, of course, is not a collateral that the lender uses because of, for example, late repayment.\u00a0The pledge will be seized only when the borrower declares that he is no longer insolvent.\u00a0The advantage of such a clause is the bank&#8217;s greater flexibility in granting the loan amount or lowering the standard interest rate.<\/li><li><strong>Unsecured Personal Loan<\/strong>\u00a0\u2013 similarly to the point above, it is a loan without collateral in the form of a pledge.\u00a0It usually results in a higher interest rate and\/or less freedom to adjust the repayment period of the loan.<\/li><li><strong>PPI \u2013 Payment Protection Insurance<\/strong> \u2013 another form of security, this time with greater benefit for the consumer.\u00a0In this case, the bank proposes to pay a certain amount once or as part of an instalment, as insurance against loss of job or part of income.\u00a0<\/li><li><strong>PCP &#8211; Personal Contract Purchase<\/strong> &#8211; a type of contract that is closest to the known leasing.\u00a0The buyer makes a deposit right after concluding the loan agreement, then pays monthly instalments in the agreed amount, and at the end has the option to pay the final amount (balloon payment) and become the owner of the vehicle.\u00a0If the borrower resigns from paying the balloon payment, then the contract ends and the car is returned to the dealer.<\/li><li><strong>HP &#8211; Hire Purchase<\/strong> &#8211; instalment loan spread over monthly payments, but the deposit must be settled in the agreed amount first.<\/li><\/ul><p>It is worth noting that in the case of the last two offers (PCP and HP), the borrower becomes the owner of the car only after making the last instalment or final repayment &#8211; i.e. balloon payment.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2d69da4 elementor-section-full_width elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"2d69da4\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-649efac\" data-id=\"649efac\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-f33a2b7 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"f33a2b7\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-a41ae46\" data-id=\"a41ae46\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a12583e elementor-widget elementor-widget-image\" data-id=\"a12583e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/globalautoimports.eu\/en\/wp-content\/uploads\/sites\/5\/2023\/04\/kredyt-na-samochod-w-anglii.jpg\" class=\"attachment-full size-full wp-image-1472\" alt=\"How to take a car in instalments in the UK?\" srcset=\"https:\/\/globalautoimports.eu\/en\/wp-content\/uploads\/sites\/5\/2023\/04\/kredyt-na-samochod-w-anglii.jpg 1000w, https:\/\/globalautoimports.eu\/en\/wp-content\/uploads\/sites\/5\/2023\/04\/kredyt-na-samochod-w-anglii-300x200.jpg 300w, https:\/\/globalautoimports.eu\/en\/wp-content\/uploads\/sites\/5\/2023\/04\/kredyt-na-samochod-w-anglii-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-38e5603 elementor-section-full_width elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"38e5603\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d2f269c\" data-id=\"d2f269c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-587d776 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"587d776\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-2c5d974\" data-id=\"2c5d974\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cc4c509 elementor-widget elementor-widget-menu-anchor\" data-id=\"cc4c509\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"creditworthiness\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-832350e elementor-widget elementor-widget-text-editor\" data-id=\"832350e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h4>Buying a car and creditworthiness<\/h4>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6b8f319 elementor-widget elementor-widget-text-editor\" data-id=\"6b8f319\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>As in Poland, British banks and credit companies use the credit score before agreeing to conclude a contract.\u00a0<strong>Credit Score<\/strong>\u00a0is a parameter that expresses the creditworthiness of the applicant on a point scale.\u00a0Importantly, each bank or other entity you ask for an assessment of your creditworthiness develops such a scale on its own.<\/p><p>An example rating based on the Historia Creditowa website:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-43e7d91 elementor-widget elementor-widget-text-editor\" data-id=\"43e7d91\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<ul><li><strong>961 &#8211; 999 points<\/strong>\u00a0&#8211; the highest level, showing an excellent credit history.\u00a0You can go to the most demanding facilities without fear, you can also count on a wider range of offers presented to you.\u00a0<\/li><li><strong>881 &#8211; 960 points<\/strong>\u00a0&#8211; good ability, sufficient to apply for loans also in more demanding banks.\u00a0In this case, however, you will receive fewer offers and they will not always be the best offers that the facility has prepared for its clients.<\/li><li><strong>721 &#8211; 880 points<\/strong>\u00a0&#8211; you will receive a loan, but the terms will certainly not be very favorable.\u00a0You won&#8217;t be able to afford every car model.<\/li><li><strong>561 &#8211; 720 points<\/strong>\u00a0&#8211; ability at a low level, insufficient to obtain a positive opinion in most banks and branches.\u00a0If you manage to win the favor of the lender, then you can be sure that the interest rate will be high, and the contract may be subject to additional security.<\/li><li><strong>0 &#8211; 560 points<\/strong> &#8211; a very low ceiling, which indicates that you have most likely struggled with debt repayment in the past. Perhaps there are still liabilities on your account after the due date &#8211; loan instalments, bills. In this case, you will not receive another loan for sure. You will even have trouble concluding a subscription contract for the telephone, internet or even car insurance that you plan to buy. A car in instalments in the UK is unfortunately not an offer for you.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2e8dcf1 elementor-section-full_width elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"2e8dcf1\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c63a9e6\" data-id=\"c63a9e6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-d8a9026 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"d8a9026\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-ce5081a\" data-id=\"ce5081a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-43390ea elementor-widget elementor-widget-image\" data-id=\"43390ea\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/globalautoimports.eu\/en\/wp-content\/uploads\/sites\/5\/2023\/04\/zdolnosc-kredytowa-w-uk-1.jpg\" class=\"attachment-full size-full wp-image-1471\" alt=\"How to take a car in instalments in the UK?\" srcset=\"https:\/\/globalautoimports.eu\/en\/wp-content\/uploads\/sites\/5\/2023\/04\/zdolnosc-kredytowa-w-uk-1.jpg 1000w, https:\/\/globalautoimports.eu\/en\/wp-content\/uploads\/sites\/5\/2023\/04\/zdolnosc-kredytowa-w-uk-1-300x200.jpg 300w, https:\/\/globalautoimports.eu\/en\/wp-content\/uploads\/sites\/5\/2023\/04\/zdolnosc-kredytowa-w-uk-1-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-aa70b41 elementor-section-full_width elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"aa70b41\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e95c1db\" data-id=\"e95c1db\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-dfe5193 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"dfe5193\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-fd64dd9\" data-id=\"fd64dd9\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fefa2ff elementor-widget elementor-widget-menu-anchor\" data-id=\"fefa2ff\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"carinstalments\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8749694 elementor-widget elementor-widget-text-editor\" data-id=\"8749694\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h4>How to take a car in instalments in the UK?<\/h4>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0c35a0e elementor-widget elementor-widget-text-editor\" data-id=\"0c35a0e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Let&#8217;s get back to the leading question.\u00a0As you have probably already deduced from the content of the article, the possibilities of obtaining financing for the purchase of\u00a0a used\u00a0or new car in the UK are very similar to those you know from Poland.\u00a0You can go directly to the bank or banks and ask about the installment loans offered.\u00a0Another possibility is to use the offers of consignment shops or dealers.\u00a0However, they also use banks, usually acting as an intermediary in concluding a loan agreement.\u00a0Finally, you can also go to a multi-agency that will screen the offers of many banks for you and choose the best one.\u00a0<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-478afdab elementor-section-full_width elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"478afdab\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wide\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3b260b82\" data-id=\"3b260b82\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-40330a5f elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no wpr-equal-height-no\" data-id=\"40330a5f\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-6bf805da\" data-id=\"6bf805da\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4548bba5 elementor-widget elementor-widget-text-editor\" data-id=\"4548bba5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h1>Looking for a company you can trust?<\/h1>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-56daca8c elementor-widget elementor-widget-text-editor\" data-id=\"56daca8c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\tIf you want to talk about cooperation &#8211; contact us!\nWe guarantee you the highest level of service and professional advice.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-734131ca\" data-id=\"734131ca\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c80ebda elementor-align-center elementor-widget elementor-widget-button\" data-id=\"c80ebda\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/globalautoimports.eu\/england\/index.php\/contact-us\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">contact us<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>How to take a car in instalments in the UK? Finances, Guide 2023-04-06 Buying a car in installments is a convenient solution not only in Poland. Drivers in Great Britain also willingly use this option when looking for the best installment loan offers. While we all know our home market well and know where to go for such a loan, living in the UK as a foreigner can feel a bit lost. Can you buy a used car with a loan here? How to take a car in installments in the UK? In this article you will learn: Car loans in Poland. What is worth knowing about car loans in the UK? Creditworthiness in the UK &#8211; Credit Score. Where to take a loan to buy a car in the UK? \u00a0 You may be interested in: How do you drive an &#8220;Englishman&#8221; in Poland? What is V5C? ABI categories &#8211; what is it? Car loan in Poland If you want to buy a vehicle with an instalment payment, we usually go to several banks or agencies. We initially ask about the current offer, the interest rate on the loan, the number of instalments and the possibility of early repayment. Alternatively, if you buy a used car in a second-hand shop or from a car dealership, we can ask about the possibility of crediting here. This solution is so popular that there is no longer even a need to appear in the seller&#8217;s office in person. We will get to know offers for credit or leasing online, using websites specialised in this field &#8211; for example here . If the buyer can demonstrate an impeccable credit history, he chooses the most advantageous offer and concludes the contract. Is it similar in the UK? Car loan in the UK \u2013 what is worth knowing APR &#8211; Annual Percentage Rate\u00a0&#8211; annual interest rate. Debt-to-income \u2013 the ratio of the applicant&#8217;s total income to his fixed monthly expenses. Each lender has its own guidelines as to the maximum percentage of the loan instalment in the borrower&#8217;s liabilities. Some banks recognise that the instalment cannot exceed 40% of income, others that 30%. Early Repayment Charge\u00a0&#8211; a fee charged by the bank \/ company in the event of early repayment of the loan than provided for in the concluded contract. Set Up Free\u00a0\u2013 usually a fixed fee that the bank \/ company imposes right after granting the borrower a loan. Secured Personal Loan\u00a0\u2013 an element of the concluded contract is a declared object (car, real estate), which constitutes a pledge in the event of the loan being unable to be repaid.\u00a0This, of course, is not a collateral that the lender uses because of, for example, late repayment.\u00a0The pledge will be seized only when the borrower declares that he is no longer insolvent.\u00a0The advantage of such a clause is the bank&#8217;s greater flexibility in granting the loan amount or lowering the standard interest rate. Unsecured Personal Loan\u00a0\u2013 similarly to the point above, it is a loan without collateral in the form of a pledge.\u00a0It usually results in a higher interest rate and\/or less freedom to adjust the repayment period of the loan. PPI \u2013 Payment Protection Insurance \u2013 another form of security, this time with greater benefit for the consumer.\u00a0In this case, the bank proposes to pay a certain amount once or as part of an instalment, as insurance against loss of job or part of income.\u00a0 PCP &#8211; Personal Contract Purchase &#8211; a type of contract that is closest to the known leasing.\u00a0The buyer makes a deposit right after concluding the loan agreement, then pays monthly instalments in the agreed amount, and at the end has the option to pay the final amount (balloon payment) and become the owner of the vehicle.\u00a0If the borrower resigns from paying the balloon payment, then the contract ends and the car is returned to the dealer. HP &#8211; Hire Purchase &#8211; instalment loan spread over monthly payments, but the deposit must be settled in the agreed amount first. It is worth noting that in the case of the last two offers (PCP and HP), the borrower becomes the owner of the car only after making the last instalment or final repayment &#8211; i.e. balloon payment. Buying a car and creditworthiness As in Poland, British banks and credit companies use the credit score before agreeing to conclude a contract.\u00a0Credit Score\u00a0is a parameter that expresses the creditworthiness of the applicant on a point scale.\u00a0Importantly, each bank or other entity you ask for an assessment of your creditworthiness develops such a scale on its own. An example rating based on the Historia Creditowa website: 961 &#8211; 999 points\u00a0&#8211; the highest level, showing an excellent credit history.\u00a0You can go to the most demanding facilities without fear, you can also count on a wider range of offers presented to you.\u00a0 881 &#8211; 960 points\u00a0&#8211; good ability, sufficient to apply for loans also in more demanding banks.\u00a0In this case, however, you will receive fewer offers and they will not always be the best offers that the facility has prepared for its clients. 721 &#8211; 880 points\u00a0&#8211; you will receive a loan, but the terms will certainly not be very favorable.\u00a0You won&#8217;t be able to afford every car model. 561 &#8211; 720 points\u00a0&#8211; ability at a low level, insufficient to obtain a positive opinion in most banks and branches.\u00a0If you manage to win the favor of the lender, then you can be sure that the interest rate will be high, and the contract may be subject to additional security. 0 &#8211; 560 points &#8211; a very low ceiling, which indicates that you have most likely struggled with debt repayment in the past. Perhaps there are still liabilities on your account after the due date &#8211; loan instalments, bills. In this case, you will not receive another loan for sure. You will even have trouble concluding a subscription contract for the telephone, internet or even car insurance that you plan to buy. A car in instalments<\/p>\n","protected":false},"author":1,"featured_media":1631,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"footnotes":""},"categories":[6,7],"tags":[],"class_list":["post-1469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finances","category-guide"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to take a car in instalments in the UK? - Global Auto Imports<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/globalautoimports.eu\/en\/blog\/2023\/04\/06\/how-to-take-a-car-in-instalments-in-the-uk\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to take a car in instalments in the UK? - Global Auto Imports\" \/>\n<meta property=\"og:description\" content=\"How to take a car in instalments in the UK? Finances, Guide 2023-04-06 Buying a car in installments is a convenient solution not only in Poland. Drivers in Great Britain also willingly use this option when looking for the best installment loan offers. While we all know our home market well and know where to go for such a loan, living in the UK as a foreigner can feel a bit lost. Can you buy a used car with a loan here? How to take a car in installments in the UK? In this article you will learn: Car loans in Poland. What is worth knowing about car loans in the UK? Creditworthiness in the UK &#8211; Credit Score. Where to take a loan to buy a car in the UK? \u00a0 You may be interested in: How do you drive an &#8220;Englishman&#8221; in Poland? What is V5C? ABI categories &#8211; what is it? Car loan in Poland If you want to buy a vehicle with an instalment payment, we usually go to several banks or agencies. We initially ask about the current offer, the interest rate on the loan, the number of instalments and the possibility of early repayment. Alternatively, if you buy a used car in a second-hand shop or from a car dealership, we can ask about the possibility of crediting here. This solution is so popular that there is no longer even a need to appear in the seller&#8217;s office in person. We will get to know offers for credit or leasing online, using websites specialised in this field &#8211; for example here . If the buyer can demonstrate an impeccable credit history, he chooses the most advantageous offer and concludes the contract. Is it similar in the UK? Car loan in the UK \u2013 what is worth knowing APR &#8211; Annual Percentage Rate\u00a0&#8211; annual interest rate. Debt-to-income \u2013 the ratio of the applicant&#8217;s total income to his fixed monthly expenses. Each lender has its own guidelines as to the maximum percentage of the loan instalment in the borrower&#8217;s liabilities. Some banks recognise that the instalment cannot exceed 40% of income, others that 30%. Early Repayment Charge\u00a0&#8211; a fee charged by the bank \/ company in the event of early repayment of the loan than provided for in the concluded contract. Set Up Free\u00a0\u2013 usually a fixed fee that the bank \/ company imposes right after granting the borrower a loan. Secured Personal Loan\u00a0\u2013 an element of the concluded contract is a declared object (car, real estate), which constitutes a pledge in the event of the loan being unable to be repaid.\u00a0This, of course, is not a collateral that the lender uses because of, for example, late repayment.\u00a0The pledge will be seized only when the borrower declares that he is no longer insolvent.\u00a0The advantage of such a clause is the bank&#8217;s greater flexibility in granting the loan amount or lowering the standard interest rate. Unsecured Personal Loan\u00a0\u2013 similarly to the point above, it is a loan without collateral in the form of a pledge.\u00a0It usually results in a higher interest rate and\/or less freedom to adjust the repayment period of the loan. PPI \u2013 Payment Protection Insurance \u2013 another form of security, this time with greater benefit for the consumer.\u00a0In this case, the bank proposes to pay a certain amount once or as part of an instalment, as insurance against loss of job or part of income.\u00a0 PCP &#8211; Personal Contract Purchase &#8211; a type of contract that is closest to the known leasing.\u00a0The buyer makes a deposit right after concluding the loan agreement, then pays monthly instalments in the agreed amount, and at the end has the option to pay the final amount (balloon payment) and become the owner of the vehicle.\u00a0If the borrower resigns from paying the balloon payment, then the contract ends and the car is returned to the dealer. HP &#8211; Hire Purchase &#8211; instalment loan spread over monthly payments, but the deposit must be settled in the agreed amount first. It is worth noting that in the case of the last two offers (PCP and HP), the borrower becomes the owner of the car only after making the last instalment or final repayment &#8211; i.e. balloon payment. Buying a car and creditworthiness As in Poland, British banks and credit companies use the credit score before agreeing to conclude a contract.\u00a0Credit Score\u00a0is a parameter that expresses the creditworthiness of the applicant on a point scale.\u00a0Importantly, each bank or other entity you ask for an assessment of your creditworthiness develops such a scale on its own. An example rating based on the Historia Creditowa website: 961 &#8211; 999 points\u00a0&#8211; the highest level, showing an excellent credit history.\u00a0You can go to the most demanding facilities without fear, you can also count on a wider range of offers presented to you.\u00a0 881 &#8211; 960 points\u00a0&#8211; good ability, sufficient to apply for loans also in more demanding banks.\u00a0In this case, however, you will receive fewer offers and they will not always be the best offers that the facility has prepared for its clients. 721 &#8211; 880 points\u00a0&#8211; you will receive a loan, but the terms will certainly not be very favorable.\u00a0You won&#8217;t be able to afford every car model. 561 &#8211; 720 points\u00a0&#8211; ability at a low level, insufficient to obtain a positive opinion in most banks and branches.\u00a0If you manage to win the favor of the lender, then you can be sure that the interest rate will be high, and the contract may be subject to additional security. 0 &#8211; 560 points &#8211; a very low ceiling, which indicates that you have most likely struggled with debt repayment in the past. Perhaps there are still liabilities on your account after the due date &#8211; loan instalments, bills. In this case, you will not receive another loan for sure. You will even have trouble concluding a subscription contract for the telephone, internet or even car insurance that you plan to buy. A car in instalments\" \/>\n<meta property=\"og:url\" content=\"https:\/\/globalautoimports.eu\/en\/blog\/2023\/04\/06\/how-to-take-a-car-in-instalments-in-the-uk\/\" \/>\n<meta property=\"og:site_name\" content=\"Global Auto Imports\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-06T16:07:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-06T17:43:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/globalautoimports.eu\/en\/wp-content\/uploads\/sites\/5\/2023\/04\/2-jak-wziac-samochod-na-raty-w-uk.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"427\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Paul\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Paul\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/globalautoimports.eu\\\/en\\\/blog\\\/2023\\\/04\\\/06\\\/how-to-take-a-car-in-instalments-in-the-uk\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/globalautoimports.eu\\\/en\\\/blog\\\/2023\\\/04\\\/06\\\/how-to-take-a-car-in-instalments-in-the-uk\\\/\"},\"author\":{\"name\":\"Paul\",\"@id\":\"https:\\\/\\\/globalautoimports.eu\\\/en\\\/#\\\/schema\\\/person\\\/d0a40bf2b6851e9f06aa85d8a0ecbe02\"},\"headline\":\"How to take a car in instalments in the UK?\",\"datePublished\":\"2023-04-06T16:07:32+00:00\",\"dateModified\":\"2023-04-06T17:43:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/globalautoimports.eu\\\/en\\\/blog\\\/2023\\\/04\\\/06\\\/how-to-take-a-car-in-instalments-in-the-uk\\\/\"},\"wordCount\":1180,\"image\":{\"@id\":\"https:\\\/\\\/globalautoimports.eu\\\/en\\\/blog\\\/2023\\\/04\\\/06\\\/how-to-take-a-car-in-instalments-in-the-uk\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/globalautoimports.eu\\\/en\\\/wp-content\\\/uploads\\\/sites\\\/5\\\/2023\\\/04\\\/2-jak-wziac-samochod-na-raty-w-uk.jpg\",\"articleSection\":[\"Finances\",\"Guide\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/globalautoimports.eu\\\/en\\\/blog\\\/2023\\\/04\\\/06\\\/how-to-take-a-car-in-instalments-in-the-uk\\\/\",\"url\":\"https:\\\/\\\/globalautoimports.eu\\\/en\\\/blog\\\/2023\\\/04\\\/06\\\/how-to-take-a-car-in-instalments-in-the-uk\\\/\",\"name\":\"How to take a car in instalments in the UK? 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- Global Auto Imports","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/globalautoimports.eu\/en\/blog\/2023\/04\/06\/how-to-take-a-car-in-instalments-in-the-uk\/","og_locale":"en_GB","og_type":"article","og_title":"How to take a car in instalments in the UK? - Global Auto Imports","og_description":"How to take a car in instalments in the UK? Finances, Guide 2023-04-06 Buying a car in installments is a convenient solution not only in Poland. Drivers in Great Britain also willingly use this option when looking for the best installment loan offers. While we all know our home market well and know where to go for such a loan, living in the UK as a foreigner can feel a bit lost. Can you buy a used car with a loan here? How to take a car in installments in the UK? In this article you will learn: Car loans in Poland. What is worth knowing about car loans in the UK? Creditworthiness in the UK &#8211; Credit Score. Where to take a loan to buy a car in the UK? \u00a0 You may be interested in: How do you drive an &#8220;Englishman&#8221; in Poland? What is V5C? ABI categories &#8211; what is it? Car loan in Poland If you want to buy a vehicle with an instalment payment, we usually go to several banks or agencies. We initially ask about the current offer, the interest rate on the loan, the number of instalments and the possibility of early repayment. Alternatively, if you buy a used car in a second-hand shop or from a car dealership, we can ask about the possibility of crediting here. This solution is so popular that there is no longer even a need to appear in the seller&#8217;s office in person. We will get to know offers for credit or leasing online, using websites specialised in this field &#8211; for example here . If the buyer can demonstrate an impeccable credit history, he chooses the most advantageous offer and concludes the contract. Is it similar in the UK? Car loan in the UK \u2013 what is worth knowing APR &#8211; Annual Percentage Rate\u00a0&#8211; annual interest rate. Debt-to-income \u2013 the ratio of the applicant&#8217;s total income to his fixed monthly expenses. Each lender has its own guidelines as to the maximum percentage of the loan instalment in the borrower&#8217;s liabilities. Some banks recognise that the instalment cannot exceed 40% of income, others that 30%. Early Repayment Charge\u00a0&#8211; a fee charged by the bank \/ company in the event of early repayment of the loan than provided for in the concluded contract. Set Up Free\u00a0\u2013 usually a fixed fee that the bank \/ company imposes right after granting the borrower a loan. Secured Personal Loan\u00a0\u2013 an element of the concluded contract is a declared object (car, real estate), which constitutes a pledge in the event of the loan being unable to be repaid.\u00a0This, of course, is not a collateral that the lender uses because of, for example, late repayment.\u00a0The pledge will be seized only when the borrower declares that he is no longer insolvent.\u00a0The advantage of such a clause is the bank&#8217;s greater flexibility in granting the loan amount or lowering the standard interest rate. Unsecured Personal Loan\u00a0\u2013 similarly to the point above, it is a loan without collateral in the form of a pledge.\u00a0It usually results in a higher interest rate and\/or less freedom to adjust the repayment period of the loan. PPI \u2013 Payment Protection Insurance \u2013 another form of security, this time with greater benefit for the consumer.\u00a0In this case, the bank proposes to pay a certain amount once or as part of an instalment, as insurance against loss of job or part of income.\u00a0 PCP &#8211; Personal Contract Purchase &#8211; a type of contract that is closest to the known leasing.\u00a0The buyer makes a deposit right after concluding the loan agreement, then pays monthly instalments in the agreed amount, and at the end has the option to pay the final amount (balloon payment) and become the owner of the vehicle.\u00a0If the borrower resigns from paying the balloon payment, then the contract ends and the car is returned to the dealer. HP &#8211; Hire Purchase &#8211; instalment loan spread over monthly payments, but the deposit must be settled in the agreed amount first. It is worth noting that in the case of the last two offers (PCP and HP), the borrower becomes the owner of the car only after making the last instalment or final repayment &#8211; i.e. balloon payment. Buying a car and creditworthiness As in Poland, British banks and credit companies use the credit score before agreeing to conclude a contract.\u00a0Credit Score\u00a0is a parameter that expresses the creditworthiness of the applicant on a point scale.\u00a0Importantly, each bank or other entity you ask for an assessment of your creditworthiness develops such a scale on its own. An example rating based on the Historia Creditowa website: 961 &#8211; 999 points\u00a0&#8211; the highest level, showing an excellent credit history.\u00a0You can go to the most demanding facilities without fear, you can also count on a wider range of offers presented to you.\u00a0 881 &#8211; 960 points\u00a0&#8211; good ability, sufficient to apply for loans also in more demanding banks.\u00a0In this case, however, you will receive fewer offers and they will not always be the best offers that the facility has prepared for its clients. 721 &#8211; 880 points\u00a0&#8211; you will receive a loan, but the terms will certainly not be very favorable.\u00a0You won&#8217;t be able to afford every car model. 561 &#8211; 720 points\u00a0&#8211; ability at a low level, insufficient to obtain a positive opinion in most banks and branches.\u00a0If you manage to win the favor of the lender, then you can be sure that the interest rate will be high, and the contract may be subject to additional security. 0 &#8211; 560 points &#8211; a very low ceiling, which indicates that you have most likely struggled with debt repayment in the past. Perhaps there are still liabilities on your account after the due date &#8211; loan instalments, bills. In this case, you will not receive another loan for sure. You will even have trouble concluding a subscription contract for the telephone, internet or even car insurance that you plan to buy. 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