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MetroBank Car Loans Overview

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The table below provides information on Metrobank car loan requirements, eligibility and how you can apply.

How much will a MetroBank car loan cost? Use the MetroBank car loan calculator below to see possible monthly repayments based on the amount you want to borrow and the terms you prefer to repay your car loan.

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.

MetroBank car loans review

MetroBank offers personal loans through RateSetter. You can use this personal loan to purchase a new or used car from a dealer or private seller. MetroBank car loans allow borrowers to purchase any type of vehicle, from a car to a motorbike or even a family van.

MetroBank car loan features

Thinking of applying for a MetroBank car loan? Here are the key features and benefits to expect:

  • Loan amount and terms. Borrow £1,000 to £35,000 over a term of 1 to 5 years, with rates starting at 3.9% APR
  • Fast approval. Apply for a MetroBank personal loan online and get approved the next working day.
  • No deposits. You don’t need to pay high deposits or balloon payments to get a car loan.
  • Fixed monthly payments. Metrobank car loan interest rates are fixed. This means the repayment for your car loan will stay the same during the whole loan term.
  • Flexible options. Choose a repayment date, make extra repayments and repay your loan early, with no extra fees.
  • Unsecured loan. MetroBank car loans are unsecured, hence your car will not be collateral. Your car is yours and you can swap or sell it if you wish.

How to apply for a MetroBank car loan?

Check that you’re eligible:

To qualify, you must:

  • 21 years old and above
  • A UK resident for over 3 years
  • Have a regular monthly income that totals over £16,000 a year
  • Have a UK bank or building society account
  • Be in good credit standing (no missed bill payments, County Court judgements, bankruptcies or debt relief orders)

What you’ll need:
Other than your personal and contact information like phone number and email address, you should also prepare the following when applying:

  • Valid IDs
  • Proof of income (e.g. bank account details or bank statements from where income is paid)

 

MetroBank 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
Metro Bank

Metro Bank Car Loans

Metro Bank 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 Metro Bank'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.

MetroBank Car Loan FAQs

What is a RateSetter and how is it related to MetroBank?

RateSetter is a platform and a trading brand of MetroBank for providing online personal loans, including car loans.

Does MetroBank charge loan fees?

Yes, for its personal loan, MetroBank may charge loan fees through RateSetter. The fees, along with the interest rates, will depend on the borrower’s credit profile.

How can I apply for fo MetroBank Car Loan?

You can head to MetroBank website to get directed to RateSetter’s car loan application page. Alternatively, you can access the RateSetter website and select Borrow>Car Loans.
From there, you can get a quote and create a RateSetter account to apply for a car loan. You can receive a decision in an instant or within 2 working days. Once approved, you can expect to receive the money after one working day. Afterwards, you can go ahead and buy a car.

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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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