Loan management
How to manage a short-term loan
Setting up autopay, making overpayments, changing your repayment date, and getting the most from your loan without extra cost.
5 min read → Vehicle
Car purchase loan
Fund the gap between your savings and the car you need. A Cash Train loan puts up to £5,000 toward a used car purchase with fixed monthly repayments.
Apply now →Unregulated lender • Apply online — decision in minutes
Typical purchase costs
What does a used car actually cost?
Used hatchback (5–8yr old)
£3,000–£7,000
Reliable everyday transport. Ford Focus, VW Polo, Vauxhall Astra bracket.
ULEZ-compliant vehicle
£5,000–£12,000
Post-2015 petrol or post-2015 diesel that meets Euro 6 standards. Now essential for daily London drivers.
Electric or hybrid (used)
£8,000–£20,000
Second-hand EV market has matured significantly. Nissan Leaf, Renault Zoe, used Tesla 3.
First car (budget)
£1,500–£4,000
Reliable A or B segment car for a new driver. Insurance will be the bigger variable.
Price ranges are approximate market averages for private and dealer sales. Actual prices vary by mileage, condition, location, and specification.
Choosing the right loan
Which tier fits your purchase?
Flex
£500–£2,000
3–12 months
Top-up on savings, a deposit on a car being bought on finance, or a low-budget first car.
Apply now →Plus
£2,000–£5,000
6–24 months
A significant contribution toward a reliable used car, or the full cost of a budget purchase.
Apply now →One application covers any amount in our range. We'll match you with the right tier for your situation.
Simple process
How it works
Register
Tell us about yourself and the amount you need. It takes a few minutes and leaves no footprint on your credit file at this stage.
Fast decision
Most decisions are made in under 2 minutes. We assess your application on affordability, not just a credit score.
Money to your account
Approved and signed, funds go straight into your bank account — same day in most cases. You buy the car as a cash buyer.
Common questions
Car purchase loan FAQs
Personal loans often have lower interest rates than dealer finance and give you negotiating power as a cash buyer. Dealer finance may offer 0% deals on specific models — always compare total cost, not monthly payment.
No — the funds go into your bank account. You can use them however you choose. A personal loan is not secured against the vehicle.
HPI check (outstanding finance, write-off, stolen), full service history where possible, independent inspection, MOT history on gov.uk, test drive. Never buy from a private seller without these.
You can, though lenders will assess all your existing credit commitments. Stacking a personal loan and car finance may affect affordability. Check total monthly outgoings carefully.
Ready to find your next car?
Apply online now and get a fast decision — fixed monthly payments, no hidden fees.
Apply now →Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk