Top car loans compared

About Top car loans compared

This ranking covers car loans, and it draws on 418 brands in the wider set with 418 offers in the car loan category itself. Most of what sits near the top is a personal loan product that also covers a car purchase rather than a dedicated car finance agreement, so a car loan here often arrives with a wider set of purposes attached to it. The main trade-off is cost against predictability. A low headline rate is attractive, yet what matters more is what you repay in total and whether the rate moves after you sign. Fixed-rate offers hold the same figure to the end, while variable ones can shift. The second trade-off is access against price: lenders that accept a weaker credit file or a registered debtor tend to quote a wider spread. Median cost in this category sits at 9.99%, with amounts around €1,058.76 and a median term of 60.

How we picked

Cost carries the most weight at 35%, trust follows at 40% and the offer itself accounts for the rest at 25%. Cost means the representative annual percentage rate, the origination fee and the total repayable amount on the published example. Trust means the lender kind, the credit search type and the legal entity named on the terms. Offer means loan size, term length, rate type and the speed of funding. Ratings for each brand come from published lender pages, the legal notices and the published representative examples, with 1,103 brands and 682 licensed providers held in the wider set behind these numbers. Category benchmarks come from 418 car loan offers, of which 19 come from partners and 253 sit with licensed providers. Partners appear first, ordered by score, then everything else follows in score order.

Our top picks

1. 3. Andacredito

   Andacredito takes third place in this ranking as a Spanish broker with the lowest stated rate floor in the set. Car loans are among its products, alongside personal, payday, business and student borrowing, and amounts run €100 to €5,000 with the rate from 0% to 36% and no origination fee. Early repayment is free, which suits a car loan repaid early after a sale, and funding takes minutes. Against Solcredito MX above it, the difference is the term: Andacredito runs on a variable rate over 2 to 3 only, so it suits bridging a purchase rather than financing a car across years.

   • APR: 0% to 36%
   • Loan amount: €100 to €5,000
   • Term: 2 to 3 months

   Pros

   • An APR of 0% to 36% and an arrangement fee of 0 EUR keep the headline cost at the cheap end.
   • Funding in 10 minutes suits a bill that lands today rather than next month.
   • Early repayment is free, so an unexpected windfall clears the balance at no extra cost.
   • Built for poor credit, so a file other lenders decline still has a route.
   • Brokers are 20.6% of the listings here, so a matching service is a real alternative.

   Cons

   • The term is 2 to 3, so the balance must clear quickly and a gap suits better than a cost spread over years.
   • The rate is variable, so the figure you finish on is exposed to a rate move.
   • Support runs on email only, so every question and dispute is handled in writing.
   • As a broker, the final rate comes from the partner, so 0% to 36% is a starting point.

2. 4. Ibancar Prestamos

   Ibancar Prestamos is tenth in this ranking and the only member built around a car used as security. It lends directly, so the rate is set by the lender rather than compared, and amounts run €600 to €8,000 over 12 to 60 on a fixed rate of 12.74% to 13.01%. The car pledged as collateral must be owned by the applicant in mainland Spain, the Balearic Islands or the Canary Islands, and applicants on the ASNEF register are accepted, which makes it worth a look where other offers would say no. Against Me Presta MX above it, the rate is narrower and the term longer, but the car secures the loan.

   • APR: 12.74% to 13.01%
   • Loan amount: €600 to €8,000
   • Term: 12 to 60 months

   Pros

   • A direct lender, so Ibancar World SL carries the loan itself rather than passing the application on
   • 12.74% to 13.01% sits close to the 12% middle of the loans tracked here, so the rate is not an outlier
   • Pricing stays fixed for the whole term, which makes the monthly amount easier to plan around
   • Secured against a pledged car, and ASNEF-listed applicants are accepted on the eligibility criteria
   • Money can arrive Same day, up to 24 hours on a car loan

   Cons

   • Collateral is not optional, since the car you pledge is what stands behind the 12.74% to 13.01% rate
   • Borrowing stops at €600 to €8,000, well short of the €16,443.04 reached by other secured lenders
   • Terms are capped at 12 to 60, so a large balance has to clear quickly
   • Only applicants resident in Spain who own the pledged car qualify, which excludes borrowers elsewhere in Europe

3. 6. Finipay

   Finipay ranks seventh in this ranking on a spread of support and a broad enough car loan term. Amounts run €300 to €5,000 over 3 to 60 at rates from 0% to 212%, with no origination fee, and car loans are listed with personal, payday and debt consolidation borrowing. You need to be a resident of Spain with a DNI or NIE, a Spanish bank account in your own name, a mobile phone and an email address, and phone support makes it easier to settle car finance questions. Against Creditio above it, the rates sit higher and the term is shorter.

   • APR: 0% to 212%
   • Loan amount: €300 to €5,000
   • Term: 3 to 60 months

   Pros

   • Setting the loan up adds nothing: the origination fee is 0 EUR, so no charge is bolted on to the interest.
   • Money arrives in Under 24 hours, and same-day funding sits in same day funding.
   • Poor credit is the target: poor means the service is aimed at files mainstream lenders decline.
   • Terms run 3 to 60 months, so a balance can be cleared quickly or spread across a longer repayment.
   • A single application covers several needs: personal, payday and debt consolidation lists personal, payday, debt consolidation and car loans, with home improvement for home improvement.

   Cons

   • Finipay is a broker rather than the lender (broker), so the rate is set by a partner lender and its terms are not spelled out here.
   • The cost of a short term is severe: the representative example repays far more than it lends, and the top of 0% to 212% is steep.
   • Borrowing stops at €300 to €5,000, so a larger renovation, car purchase or consolidation job needs another provider.
   • Support runs on phone, email and help centre only, with no live chat or community forum listed.

4. 9. Finteres

   Finteres is eighth in this ranking and it is a Spanish broker with free early repayment and fast transfers. Amounts run €100 to €5,000 at rates from 0% to 36% with no origination fee, and the transfer goes out on approval with a longer window only in exceptional cases. Car loans appear with personal, payday and debt consolidation borrowing, and the credit search is a soft prequalification. Compared with Finipay above it, Finteres uses the same soft check and adds free early repayment, but its term is the shortest here at 3 to 4, so it suits a car bought with most of the money already saved.

   • APR: 0% to 36%
   • Loan amount: €100 to €5,000
   • Term: 3 to 4 months

   Pros

   • No arrangement fee to budget for: the origination fee is 0 EUR, and the representative example shows a short loan repaid with nothing added to the amount borrowed.
   • Free early repayment, so clearing the balance before the agreed date costs no more than sticking to the schedule.
   • The credit check is soft prequal, a soft prequalification step that 20.4% of the brands on the site use, against 72.7% on a hard search.
   • Speed is built in: money transfers immediately on approval, and same day funding is listed among the product features.
   • One broker covers several needs, with personal, payday and debt consolidation listed, so a short bridge and a car loan run through the same application.

   Cons

   • Terms run only 3 to 4, far shorter than the 48 typical of personal loans on the site, so a large balance has to clear in a short window.
   • Finteres works as a broker, so 0% to 36% is a range it works across rather than a rate you are handed, and the lender sets the terms you sign.
   • The largest loan sits at the top of €100 to €5,000, well short of the €653,159.33 recorded for the biggest personal loans on the site.
   • Funding is immediate on approval, but the stated funding time still allows a longer wait in exceptional cases.

5. 10. Me Presta MX

   Me Presta MX sits ninth in this ranking and brings a Mexican marketplace to the lower ranks. Car loans are listed with personal and payday borrowing, amounts run MXN 1,000 to MXN 50,000 over 2 to 36 at rates from 0% to 38% with no origination fee, and the site works online around the clock. Applicants need to live in Mexico with a bank account in their own name, a mobile phone and an email address. Compared with Finteres above it, the car loan sits in a peso market with a lower ceiling, and support runs by email only.

   • APR: 0% to 38%
   • Loan amount: MX$1,000 to MX$50,000
   • Term: 2 to 36 months

   Pros

   • Origination costs nothing to arrange: the fee is 0 MXN and the fee percentage is 0%, so the rate is effectively the whole cost.
   • Fast money, since funding is listed as Pocos minutos, en linea 24/7 and Me Presta MX carries the same day funding feature.
   • Borrowing runs MXN 1,000 to MXN 50,000, well past the €876.96 typical amount in this comparison, so a repair bill and a larger cost both fit.
   • Against Monzo Flex at 10% to 23%, the band here includes cheaper offers, though its expensive end is higher.
   • Repayment can be spread over 2 to 36, so a short bill does not have to land in a single month.

   Cons

   • Support runs on email only, so there is no phone line or live chat for an urgent payment problem.
   • The band 0% to 38% is wide, and its expensive end sits above the 10% to 23% range at Monzo Flex, so an unlucky match is costly.
   • As a marketplace the lender is chosen for you, so the rate on your offer is not the headline band and terms can differ between matches.
   • Repayment runs 2 to 36, which suits a short bill rather than a long project, and the representative example shows a total repaid above the sum borrowed.

What to look for

Read the representative example

The median annual percentage rate for a car loan here is 9.99%, with a mid-range from 6.5% to 16.86%. The widest quote runs to 155.8%, so the headline figure matters less than the representative example.

Check whether the rate is fixed or variable

A fixed rate keeps the same figure for the whole term, and 77.7% of the category is fixed. Variable offers make up 22.3%, and every offer in this ranking is a fixed-rate model at 100%.

Check the term and the funding speed

Most money here arrives fast, with 75.3% advertising same-day funding. 60 months is the median term, and it ranges from 1 to 360.

Look at the credit search and the security

Hard credit searches sit on 72.4% of offers and soft prequalification on 23.7%. Offers aimed at poor credit make up 36.3%, and a secured loan against the car is standard at 58.6%.

Know who actually lends the money

Direct lenders at 69% set the price themselves, brokers at 21.1% compare lenders and marketplaces at 9.9% list offers from several providers.

Frequently asked questions

Top car loans compared by country

• Australia
• Canada
• Colombia
• Germany
• Italy
• Japan
• Mexico
• Poland
• Portugal
• South Africa
• Spain
• Sweden
• United Kingdom
• United States

The data behind this ranking

All data and the CSV