Marks & Spencer Bank was launched in 2012. It was built on the foundations of M&S Money, which has been providing financial services for over 30 years.
This bank offers general insurance, credit cards, club rewards, and savings accounts, to name a few. They also have loans for cars, weddings, and home improvements. Meanwhile, their travel money service is notable for having a wide range of currencies on the high street.
Use our handy Marks and Spencer car loan calculator below to see if a car loan is right for you. Get instant estimates on your monthly payments, incentives available with different credit scores (including bad), how much equity they’ll need before being approved as well as other important information like interest rates!
Since M&S uses Internet Banking, that means you can use their mobile app, M&S Banking, to view and do online transactions. You can also use it to confirm online payments, download digital credit card statements, and retrieve your credit card pin.
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.
Marks and Spencer car loan features
- Free application (no processing fees)
- Maximum 6.8% APR
- £1,000–£25,000 loan funds
- 1 to 7-year loan term
- Fixed monthly fees
- Offers special rates to M&S Bank main cardholders
How to apply for a Marks & Spencer car loan
You’re eligible if you
- Are 18 years old and above
- Have been living in the UK for more than 2 years
- Earn at least £10,000 every year, before taxes
- Do not have bankruptcies
What you’ll need
- An active email address
- Your income and employment details
- Bank or building society’s sort code
- Your monthly outgoings’ details
- Current address or your previous address, if you just moved recently into your place
Application steps
- First, go to this page and click Apply Now to get a personalised quote.
- You’ll be required to read a privacy notice about using their Personalised Loan Quote tool. (This notice will be quite long, but it’s only a disclaimer that the tool is used for soft credit checking.)
- Select the two confirmation checkboxes and click Continue to start getting your personalised quote.
- Next, enter your loan details such as the amount you need to borrow, term, and main purpose. If you’re going to get a Marks & Spencer car loan, you may choose New Car, Used Car, Caravan, or Motorbike. You’ll also be asked to confirm that you’re a UK resident, so select the Yes radio button. After that, click Continue.
- Now, enter your personal details. Provide your preferred title, full name, marital status, birthday, address, income, employment status, and annual income before taxes.
- Next, select Calculate. The next screen will display the personalised loan quote. If they can’t provide you with a quote, you’ll be asked to re-enter your details in the previous pages.
Marks and Spencer car loan calculator
EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View Marks & Spencer Bank's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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Repayment Period
12 months
to 60 months
Loan Amounts
£2,000
to £40,000
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.
Borrowing £10,000 over 60 months with a representative APR of 14.8%, an annual interest rate of 14.8% fixed and a deposit of £0.00, the amount payable would be £250 per month, with a total cost of credit of £5,880 and a total amount payable of £13,501 including a one-off Option to Purchase fee of £1. We offer hire purchase loans between £2,000 - £40,000 at a personalised APR between 6.9% and 24.9%
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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.