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Important disclosure

Lending Works Car Loans Overview

Lending Works logo

Since 2014, Lending Works has been providing personalised financial products to individuals in Farringdon, London. Their products include personal loans and peer-to-peer lending (only for existing customers).

As a business, Lending Works’s main mission is to give both lenders and borrowers a fair deal. It prides itself on using smart technology and data science in sharpening its customer experience.

Lending Works is also a peer-to-peer (P2P) lending platform, which its existing customers can use to borrow money from investors. Currently, its P2P service isn’t available to new customers.

Looking for a car loan? Use our Lending Works car loan calculator to find out if this product is right for you.

Terms from 1 to 10 years. Representative example: 5 year £10,000 loan with comparison rates from 2.8% to 49.9% APR would cost between £10,728 and £27,321, including fees. The interest can vary between £728 and £17,321.

Lending Works car loan features

  • £1,000 to £25,000 loan funds
  • 1 to 5-year loan terms
  • 12.9% APR Representative
  • Free early repayment
  • Free application
  • 2-day process, from application to payout
  • Runs soft credit check — this won’t affect your credit score
  • Free loan cancellation within the first 14 days after approval

How to apply for Lending Works car loans

You’re eligible if you:

  • Are 21 years old or above
  • Have a good credit history (no CCJs, IVAs, & bankruptcies)
  • Have been living in the UK for more than 2 years
  • Own an email address and mobile phone number in the UK
  • Own and use a UK bank account

Application steps for a Lending Works car loan

  1. First, go to this page and get a quote by selecting “Calculate my rates.”
  2. Next, enter your desired loan terms, monthly income after taxes, current debt amount (if you have any) and employment details.
  3. After that, enter your address details.
  4. Select “Get my quote” to let Lending Works start running their checks.
  5. Next, the screen will display the results. You’ll instantly know if your application has been approved or declined.
  6. If you pass, you’ll see a page where Lending Works will itemise your loan details such as the amount, term, monthly fee, total amount payable, and more.
  7. Follow the succeeding steps until you can access your borrower dashboard. This is where you can fully complete your application.

Lending Works additional info

Apart from personal loans, Lending Works also offers P2P lending (only for existing customers) and finance guides. In their help centre, you can learn how to transfer Individual Savings Accounts (ISAs) and lend or borrow funds effectively.

If you have concerns about repaying your LendingWorks car loans, reach them via [email protected] or 0207-096-8512.

 

Lending Works car loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

£20,000

Term

60 months

Change
Lending Works

Lending Works Car Loans

Lending Works Car Loans
EST Monthly Repayment
£425 Inclusive of fees
EST Monthly Repayment
9.99%
APR
EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
GO TO SITE
View Lending Works's website for more details on their car loans
Featured
Carmoola

Car Hire Purchase

EST Monthly Repayment
£474 Inclusive of fees
Interest Rate
14.80%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
£2,000
to £40,000
GO TO SITE
Carmoola's rates start as low as 6.9% for loans of between £2k - 40k over one to five years. Representative APR: 14.8%. Buy your dream car in minutes with Carmoola's virtual card, with a £0 minimum deposit. Carmoola is an entirely digital, app-based lender. No sales calls or paperwork! Take control and manage your loan in-app.

BestLoanRates.co.uk provides factual information in relation to financial products. While BestLoanRates.co.uk attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and, to the best of our knowledge, is correct at the time of publishing. The information published on BestLoanRates.co.uk is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product, you will be dealing directly with that provider and not with BestLoanRates.co.uk. BestLoanRates.co.uk recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information, please see BestLoanRates.co.uk's Terms of Use.

Minimum and maximum loan periods vary between 1 month and 10 years. APR varies between 2.80% and 71.30% p.a. Total interest repayments vary between £435 and £1,019 over the life of the loan. *APR is based on an unsecured loan of R£15,000 for a term of 3 years. WARNING: This APR is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different APR. These rates can change without further notice. All rates quoted are per annum.

Lending Works car loan FAQs

What else can I do with my borrower dashboard?

On your dashboard, you can view your active loans, get a loan quote, and upload documents. You can also manage your payments, send an overpayment, settle loans, and view your loan statements.

Where can I use a LendingWorks personal loan?

You can use it for purchasing a car, doing home improvements, consolidating debts, and spending on vacations or weddings.

Is cancelling my LendingWorks car loan free?

It’s free if you cancel within 14 days after your application was approved. If it’s already been more than 2 weeks, you can request a loan settlement figure through your borrower’s dashboard. After that, you need to pay your outstanding balance, so you can repay your loan.

Why was I declined for a LendingWorks car loan?

If your application was declined by Lending Works, it’s possible that you didn’t meet their internal credit scoring. Your loan requests also probably exceeded their criteria.

Can I change my repayment due date?

Yes, you may do it on your borrower’s dashboard. You can also get help by calling 020 7096 8512.

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Bestloanrates.co.uk provides factual information in relation to financial products. While Bestloanrates.co.uk attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the produc provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on Bestloanrates.co.uk is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with Bestloanrates.co.uk. Bestloanrates.co.uk recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see Bestloanrates.co.uk’s Terms of Use and Services Guide.

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