Student Car Finance
Zap Loans are a credit broker not a lender. Representative example: borrowing £10,000 over 5 years with a representative APR of 19.1%, an annual interest rate of 19.1% (Fixed) and a deposit of £0.00, the amount payable would be £255.50 per month, with a total cost of credit of £5,329.80 and a total amount payable of £15,329.80
Terms and Conditions:
This example is for a Hire Purchase Agreement.
I confirm that I have read and understand the following, and that in doing so provide permission for ZAP Loans to undertake a credit search and provide my information to their panel of lenders. I understand that this may register as a credit search against my name.
- I have read the Initial disclosure document (IDD) available online
- I consent to a credit search being conducted
- I understand the following
- The credit search relates to a hire purchase product which does not have any mileage restrictions; however, a balloon product is also available – please call to discuss
- Subject to balance financed, the agreement would be protected by the Consumer Credit Act (CCA)
- I tend to be the registered keeper of the vehicle and would hold fully comprehensive motor insurance during the length of the agreement
- I understand that the vehicle is at risk of repossession if the contractual repayments are not maintained
By proceeding to obtain a quote, you confirm that you have independently chosen the appropriate term of agreement , are comfortable with the suggested repayments and agree to the above statements. Copies of the relevant documentation, to include the IDD, Product Explanations and Overview have been provided to your email address in a durable medium
To view our IDD (Initial Disclosure Document) – please visit https://zaploans.co.uk/initial-disclosure-document-idd/
The Benefits of Student Car Finance
Manage Your Budget: Car finance options allow you to spread the cost of your vehicle over a period of time, making it easier to fit into a student budget without needing a large lump sum upfront.
Competitive Interest Rates: Lenders offer attractive interest rates for student car finance, helping you find affordable deals even with a limited income.
Access to Reliable Vehicles: Whether you need a dependable car for commuting or a reliable vehicle for your part-time job, our finance options give you access to a range of quality cars.
Flexible Financing Options: Choose from various financing options, such as Hire Purchase (HP) and Personal Contract Purchase (PCP), to find the plan that best suits your needs and financial situation.
Build Your Credit Score: Securing car finance as a student can be a great way to build or improve your credit score, which can be beneficial for future financial needs.
Simple Application Process: Our straightforward application process means you can get a decision quickly and start exploring your car finance options with ease.
Bad Credit Considered: If you have a less-than-perfect credit history, don’t worry. We work with lenders who consider all credit histories, so you still have options available.
Types of Car Finance for Students
With HP, you make an initial deposit followed by regular monthly payments. At the end of the term, once you’ve made all the payments, the car is yours to keep. HP is a great option if you plan to own your car long-term.
PCP offers lower monthly payments compared to HP. At the end of the term, you can either make a final payment to own the car, return it, or trade it in for a new one. This option is ideal if you prefer to switch cars every few years.
A personal loan allows you to borrow a lump sum to buy a car outright. You then repay the loan in fixed monthly instalments. This can be a good option if you want to manage your car purchase separately from your car finance.
Student Car Finance – FAQs
Can I get car finance as a student?
Yes, it’s possible to get car finance as a student. While it might be challenging due to your limited income, there are lenders who offer student car finance deals. We can help you find options that fit your financial situation.
