Barclays rolls out new motor loan

High street bank Barclays has put together a loan package specifically aimed at people who want to buy a car.

The bank says that the loan offers a competitive rate of interest – 7.4 per cent – and comes with other benefits.

Among these are breakdown cover, discounted car insurance and discounted vehicle checks for a set period.

Motorists taking out a car loan from Barclays will receive a ten per cent discount on the price of their car insurance premium if purchased from Barclays online, reduced to five per cent if purchased over the telephone.

Mark Till, product director for Barclays, said motorists might find the combined package to be “a much better rate than they would get on a car finance deal Ö plus they have the additional benefits of the RAC discount and the essential free HPI check”.

“With the launch of the latest 57 number plates just around the corner, it is a great time of year to upgrade your vehicle and this loan package could really help,” he added.

Meanwhile, eSure has warned drivers planning to buy a 57 registration vehicle to consider car insurance costs before making the purchase.

© Adfero Ltd

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