Are you on the lookout for a new car? Perhaps your old one is starting to show its age and it's time to trade it in for a younger model. Or maybe you're happy with the car you have, but you've just been hit with an unexpected and pricey repair bill. Whether you need help with financing a purchase or covering maintenance costs, our car loans could help you.
Dot Dot Loans can lend you between £200 and £4,000, with repayment terms over three to 48 months. Your repayment schedule will depend on the size of your loan, and we will explain all the details right here. Read on for more information on applying for a car loan and how Dot Dot Loans can help you.
A car loan involves borrowing money from a lender to help finance a new vehicle or to cover any repair bills that have cropped up. It works much the same as any other loan in that you'll borrow a certain amount before repaying over an agreed period with interest added.
Sometimes, it can be difficult to secure a loan via a conventional lender such as a high street bank. With Dot Dot Loans, the application process is simple. You can apply online in a matter of minutes and find out if you've been approved soon afterwards. It's as easy as that.
The amount you borrow is likely to vary depending on what you need the funds for. You may want to buy a new vehicle. Alternatively, you might need a car repair loan to cover any hefty maintenance bills. We have two types of car loans available and you may find that one suits your needs more than the other:
Our short-term car loans allow you to borrow £200 to £1,000 repayable over three, six or nine months. With the average cost of repairs rising, this form of funding can prove the perfect solution to that problem. If you've suddenly been hit by expensive maintenance fees, one of our short-term car repair loans can help you cover the costs and get you back on the road.
Our long-term car loans allow you to borrow £1,500 to £4,000. Your funds will be repayable over 18, 24, 36 or 48 months, depending on how much you borrow. Statistics show there were more than two million new cars registered in the UK in 2019, while the price of a new vehicle rose 38% between 2008 and 2018. If you're one of those people looking for a new car, you may need to put down a sizeable deposit. That's where a long-term car loan of up to £4,000 can help.
When you're seeking help with your finances, you need to make sure you choose the right lender. We aim to make car loans as easy as possible so that you can apply for funds in a stress-free fashion. Here are just some of the reasons to choose Dot Dot Loans:
We're owned by Morses Club PLC, who have more than 130 years' experience as one of the UK's leading finance companies. We're a direct provider of car loans, so you don't have to worry about dealing with any third parties.
Our loans are easy to sort out. They're an unsecured type of funding, so you won't have to offer your property or other assets as security. You can work out the cost of your payments by using our short-term loan calculator or long-term loan calculator.
Our calculator will tell you the total cost of your loan. If you want to proceed, we'll carry out credit and affordability checks. These will assess your salary and credit history. Don't worry if your credit score is less than perfect - bad credit car loans are an option with Dot Dot Loans.
If you are approved, the cost of your loan will be agreed upfront. We'll start to take repayments automatically and you can keep track through the customer portal.
Statistics from the FCA tell us that lending volumes have risen since 2016. However, borrowing money may not be the answer for everyone. Before you apply for a car loan, you might want to ask yourself these questions:
If you would like some free, impartial advice before you consider applying for a car loan, here are a few places you can go to:
The latest survey by the FCA revealed that 4.5 million UK adults had been turned down for a loan over a two-year period. We want our loans to be accessible to as many people as possible. You can apply if:
We carefully assess every application and we only lend responsibly. Your salary and credit history will both be taken into account before a decision is made.
We appreciate that not everyone's credit score is as good as they'd like it to be. But if your score is less than ideal, there's no need to worry - we want to help as many people as possible. As part of our promise to only lend responsibly, we'll assess your credit score and even if it's not perfect, you could still be eligible for a bad credit car loan.
The size of your car loan will determine your repayment schedule. A short-term car repair loan of £200 will be paid back over three months. However, a long-term car loan of £4,000 will be repaid over 48 months.
We'll collect the repayments automatically. These will be taken on a pre-agreed date via Direct Debit. This way, there won't be any delayed or missed instalments.
There are no charges for delayed or missed payments on our car loans and car repair loans. However, if you think you might struggle to make an instalment then please contact us to let us know. We'll try and figure it out together.
All our car loans come with no hidden or extra fees attached. We like to make everything clear from the very beginning.
The interest will vary depending on how much you borrow. You can use the calculator to work out exactly what your repayments will be, including interest. That way, there are no nasty surprises.
Some lenders do offer variable interest rates. This means your repayments can change from one month to the next. If your interest rate went up, you could find it difficult to afford the instalment that month. Our car loans have fixed interest rates, so you'll always know how much you're repaying.
Are you in need of a car repair loan to cover some unexpected maintenance costs? Perhaps you're looking to buy a new set of wheels and you need a car loan to help fund the deposit? Whatever your situation, Dot Dot Loans are here for you.
If you're happy to continue, hit 'Apply now' and you can fill out your application in just a few minutes. If we approve you, your money could be with you the same day. That's the beauty of car loans with Dot Dot Loans.
Borrow £300 over 6 months with monthly repayment of £92.97. Total amount payable £557.82. Interest rate 237% p.a. (fixed). 757.7% APR Representative.
Borrow £2500 over 24 months with monthly repayment of £198.68. Total amount payable £4768.25. Interest rate 71.1% p.a. (fixed). 99.9% APR Representative.
Short-term loans: 757.7% APR Representative Long-term loans: 99.9% APR Representative