Car Loans - car loan calculator - Ulster Bank

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Car Loans

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Our lowest ever Representative 3.9% APR  for loans of £7,500 to £25,000.

Other amounts available at alternative rates. Our rates depend on your circumstances and loan amount and may differ from the Representative APR. Over 18s and existing Ulster Bank current account customers only.

From tired old wheels to upgrading your car, bring your plans to life with our car loans


Features and benefits of our car loans:


No upfront fees or charges
We won't charge you to set up your loan - charges for other services may apply

Fixed monthly repayment to suit your budget
The rate is fixed for the term of the loan meaning no unexpected changes to your repayment amount

Spread the cost over 1-7 years
Car loans can be taken over a term of 1 to 5 years for loans of £14,950 or less, or over a term of 1-7 years for loans of £15,000 or more

Couple being given keys to a new car

Receive your money as early as the next working day
If you use online banking, apply online before 5.55pm Monday to Thursday and have your loan accepted and we hold your up-to-date personal information. Please note, sometimes we'll need to contact you for more information so it may take a little longer.

Try our loan calculator to work out the best loan for you


The rates you pay depends on your circumstances and loan amount and may differ from the Representative APR.

Looking for a loan between £25,000 and £35,000?

You can apply to borrow between £1,000 and £25,000 online, however, if you are looking for a larger loan, please visit us in branch or call us.

Personalised Quick Quote Find out if you're likely to be accepted for a loan

Just give us a few details and we will see if we can help.

Find out if you're likely to be approved

Find out how much you may be able to borrow

View your personalised interest rate and monthly payments

No impact on your credit rating

Personalised Quick Quote
Helpful information Need help with your options for buying a car?

Choosing the best way to pay for your car can be confusing but knowing your options can help. Take a look at our helpful guide below.


Type of borrowing



Car Loan

What's this?

Car Loan

You take out a personal loan and use the money to buy a car or vehicle, the car loan is tied to you and not to the car, it's a flexible option that doesn't commit you to a particular dealer or manufacturer.

  • Borrowing not secured on the car
  • Fixed monthly repayments
  • Spread the cost over a term you choose
  • You'll need to arrange the loan before you buy the car
  • Unless you are trading in a car or have a deposit, you will need to borrow the full value of the car

Cash or Savings

What's this?

Cash or Savings

You can use money from your account to buy the car. You can also combine your money with another type of finance e.g. part loan / part cash.

  • You will avoid the cost of interest payments on borrowing
  • No need to be approved for finance
  • You own the car outright
  • You'll need to have the full value of the car upfront
  • You'll lose any credit interest that would have been paid on your savings


What's this?


When you lease a car, the finance provider owns the vehicle. At the end of the term you simply hand it back and may have to pay for any mileage over the agreed limit and any damage not considered fair wear and tear etc. Sometimes you will have the option to include maintenance and other costs in the monthly payment.

  • Monthly payments can be cheaper than other methods of buying
  • Maintenance of the car is often included as part of your monthly payments
  • You can never own the car
  • You will need to stay within an agreed mileage or you may have to pay excess mileage costs at the end of the term
  • You may have to pay a deposit

Personal Contract Purchase

What's this?

Personal Contract Purchase

Like hire purchase, you take a loan through the dealership and make monthly repayments. But instead of paying for the full value of the car, you leave a lump sum to be paid at the end of the contract – the 'final value'. At the end of the term you normally have 2 options:

  • Pay the lump sum and keep the car, or

  • hand the car back to the dealer

These schemes are designed to offer lower monthly repayments but can work out more expensive than hire purchase or a car loan.

  • Monthly payments can be cheaper than other methods of borrowing
  • You won't own the car unless you make a one-off final payment
  • Mileage is agreed in advance, and excess mileage can be costly

Hire Purchase

What's this?

Hire Purchase

This is a finance scheme similar to a personal loan, with fixed monthly re-payments for a term you choose. The main difference is that the finance is tied to the car, and the loan provider owns the car until the loan is fully repaid. Details vary but generally:

  • you select the car you want from the dealership, they arrange finance for you;

  • you effectively 'hire' the car for an agreed period of time, the monthly cost includes the loan interest cost;

  • at the end of the hire agreement, you pay an administration fee and ownership of the car is transferred to you

  • You will own the car once you have made all the payments
  • You may get a deposit contribution from the car manufacturer
  • Higher monthly payments than other methods of buying
  • The finance company can repossess the car if you do not keep up with your repayments
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