Car Loan

HSBC UK
Loans
Car Loan

Whether you’re buying a new or used vehicle, our car loan could get you on the road to owning it outright. Representative 6.9% APR for loans between £7,000 and £15,000.

Car Loan calculator

Calculate your monthly loan repayments

Use the sliders to adjust how much you’d like to borrow and over how many months.

You might be able to reduce your monthly repayments, and total amount payable by slightly adjusting the amount you borrow.

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APR (annual percentage rate) varies according to the size of the loan. The amount you want to borrow might be close to one of the points where the APR changes. See full details of our Personal Loan interest rates (PDF, 47KB).

Why get a Car Loan with us?

Borrow from £1,000 to £25,000, or up to £50,000 for HSBC Premier account holders

Always know what you'll have to pay with fixed monthly repayments spread over 1 to 5 years for loans of £15,000 or less, or over 1 to 8 years for loans over £15,000.
Get a quick decision

If you're an HSBC current account holder you can get an instant credit decision, while non-HSBC current account customers should get a credit decision in 2 to 5 working days.

Quick access to funds

Existing HSBC current account customers could receive the money instantly once your application has been approved and the loan agreement has been signed. Non-HSBC current account customers could receive the money into a nominated account 3 working days after the signed loan agreement is received.
Make overpayments free of charge

Manage your finances the way you want with the flexibility to overpay, which could reduce the amount of interest you have to pay.

Rate information

6.9% APR representative
This rate is available for loans between £7,000 and £15,000.

*The rate is subject to change and the representative APR may not be the rate you'll receive. We'll offer you a rate based on our assessment of your personal financial circumstances. The maximum APR you could be offered is 22.9%.

The APR may vary based on amount borrowed. Please use the calculator or the loans interest rate table (PDF, 47KB) for more details.

Things to know about our car loans

Who can apply?

You can apply if you:

are over 18 and a resident of the UK
have an annual income/pension before tax of £10,000 or more
have a bank or building society account with a Direct Debit facility

Not available for customers with a Basic Bank Account.

For joint loan applications, please call us on 03457 404 404. Joint loans are not available online or in the HSBC Mobile Banking app.

Our loans are subject to status.

What you can't use your loan for

We don't offer Personal Loans for a number of purposes including:

the purchase of property or land (both UK & Overseas) including holiday homes and apartments
purchasing a joint stake in a property or buying out a joint owner
mortgage deposit (regardless of lender or country)
gifting funds to third parties to support the purchase of a property, including mortgage deposit, stamp duty and solicitors fees
gambling
business purposes
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Fixed repayment terms

spread your repayments over 1 to 5 years for Personal Loans of £15,000 and less
spread your repayments over 1 to 8 years for Personal Loans of over £15,000
the first repayment is due 1 month from drawdown
repayments will be taken monthly from your nominated current account

Debt consolidation considerations

if you're using any part of this loan to pay off or reduce existing loans/debts (including combining these into a single loan), it's important to consider not just the interest rate and monthly repayments, but also the term of this loan compared to the remaining term of your existing loans/debts
spreading your payments over a longer term means you could end up paying more overall than under your existing arrangements, even if the interest rate on this new loan is less than the rates you're currently paying
you should also consider if any early repayment charges apply and if this form of borrowing is appropriate for your circumstances

Interest

at the beginning of the loan we work out the interest you'll pay over the whole period of your loan and add this to your loan balance

Early repayments

you can repay your loan in full at any time by giving us notice in writing, by visiting a branch or by calling us on 03457 404 404
once you've given us notice, we'll give you a settlement figure. It's necessary to pay all the amounts owed if you wish to close the loan
if you make an early repayment there may be a reduction in the amount of interest you'll have to pay and this will be reflected in the settlement figure
the settlement figure will include interest up to the date which is 28 days after you tell us you want to repay the loan, plus an additional month

Responsible lending

If you think there might be a change in your circumstances that could increase your outgoings or reduce your disposable income, please contact us by phone or in branch for further guidance. Changes to consider are:

employment changes such as imminent retirement, maternity, paternity or extended leave
reduction in working hours, fixed contract end dates or zero hour contracts
an increase in living costs such as rent or mortgage repayments

You can get full details of our credit facilities, including a written quotation, from any of our branches or by writing to:

Customer Information, HSBC Bank plc, PO Box 757, Hemel Hempstead, Herts HP2 4SS.

Or call us on 0800 032 4735 (textphone 18001 0800 028 0126).

Lines are open from 08:00 to 22:00 every day (except for Christmas Day, Boxing Day and New Year's Day).

Is car finance a secured loan? An HSBC Personal Loan is a form of unsecured lending. With unsecured loans, the lender can’t take away any of your assets, such as your home, if you fail to repay what you owe. However, any late or missed repayments can have a negative effect on your credit score and your ability to borrow money in the future.

Can I get a loan for a used car?

There may be a few different financing options you could investigate to pay for the car, such as a personal loan, hire purchase or leasing. If you’re looking to apply for finance to pay for a second hand car, it’s important that you consider the costs and can afford the repayments.

What happens if I don't repay my car loan? If you’re an HSBC customer and you’ve missed (or are worried about missing) a loan payment, or you're concerned about your overdraft, we can help. Call our team of specialists on 0800 085 2482 to get a helping hand.

Can I pay off my car loan early? You can repay your HSBC Personal Loan in full at any time by giving us notice in writing, by visiting a branch or by calling us on 03457 404 404.