Need cash to buy a car? Check out Barclays car loan

Before we begin, let us first explain who Barclays actually is. Barclays is a UK-based bank that operates in over 50 countries worldwide. It is the 10th-largest banking and financial services group in the world and it has more than 48 million customers. And when it comes to reputation, these statistics say it all! It has also won a swag of awards, including a Coffey International Award, Wealth Manager of the Year and many more.

Now that you are convinced of the Barclays CV, now it is time to get down to business, the Barclays car loan. If you are asking for money to buy a car, this request falls under the Personal Loans umbrella. This type of loan does not require any physical collateral for security, such as a house, property or other assets. You just need to prove that you have a good and reliable credit rating. With a Barclays personal loan, you can borrow between £1,000 and £25,000 in multiples of £100. The repayment period that accompanies this loan is between one and five years. If you borrow more than £10,000 to spend on your car, you can choose to pay over a period of up to 10 years.

Tell me more about repayments, I hear you saying. Well, when it comes to setting the interest rate on your Barclays car loan, you are offered a rate that is calculated based on your personal situation and the amount of money you borrow. Barclays has a fixed monthly repayment system, whereby your interest rate is set for the life of the loan. This means that your monthly repayments will not change, which can be extremely helpful when it comes to budgeting each month. No nasty surprises! If you wish, you can even pay off your loan earlier. The only obligation is a settlement fee of 30 days interest on the balance remaining at the settlement date. This must also be paid on top of any other interest that is due.

How can you apply for a Barclays car loan? Easy! All you have to do is pay a visit your local branch. By going in person to your Barclays bank, you can get your Barclays car loan in as little as three hours. If you are registered for Online Banking you can also apply online by clicking through to the online banking section and filling in the application form.Happy car hunting!

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