How much do you want to borrow?
£2,500 £25,000Over how many months?
12 months 60 monthsMonthly Repayment
Total Interest paid
Arrangement Fee
Total amount paid
6% - 16.9%
6%
£2,500 - £25,000
Minimum Term 1 year
Loans £2,500 - £9,999 - up to 4 years
Loans £10,000 - £25,000 - up to 5 years
Direct Debit
3 - 5 working days from when they receive your forms back
No Fee
3 months payment holiday at the start of the loan
Transferred into your bank account
No
13th for APR of 423 loans in the UK (See Lender League Table By APR)
37th for Customer Satisfaction (See Customer Reviews)
Marks & Spencer Car Buying Plan offer you between £2,500 and £25,000 for the purchase of a car, boat, motorbike or caravan. Flexible repayment options are available whereby you can defer up to 60% of the loan. At the end of the term you can either keep your car and carry on paying your monthly repayments, pay the remainder of the loan in a lump sum or sell the car to pay the loan off and start a new car buying loan. Repayment terms can be anything up to 60 months.
You can apply online or over the phone for a Marks & Spencer Car Buying Plan Loan. The online application form will take about 10 minutes to complete. You will be given a decision within 48 hours. If provisionally accepted, they will send documents and the loan agreement to your home address. You will need to sign and send back the forms. Once received, your funds should be available to you within 3-5 working days. Your monthly repayments will stay fixed for the length of the loan.
Do not apply for this loan if you are unsure how good your credit history is. You need to have a good credit history to apply and if you don't, you will be rejected. If you're rejected, this means you are less than likely going to be accepted for any other low-interest high street loans. Please also keep in mind that they base how much they can lend you and at what rate on your current financial circumstance. The more you prove you can afford the loan, the better your chances are.
Current Offers:
You can defer up to 60% of your loan|
Default Fees |
Direct debit not met - £15.00 |
|
Early Settlement Fees |
Loans over 12 months - one month's interest Loans under 12 months - no charge |
|
Late Payment Fees |
Missed payment - £15.00 Tracing agent to locate you if needed - £15.00 |
Average Customer Review:
(1 customer review)
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Being an M&S customers helps
Graham, Kent
1 year ago
Avoid M&S at all costs if you're not an M&S customer. I applied for the car buying plan loan and was advised with my credit rating being excellent I should qualify for the typical APR 8.7% as most customers tend to get this rate. However, as I am not an M&S customer they quoted me a ridiculous 12.7 APR stating I was high risk as I am not an M&S customer...
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M&S Money, Customer Services Department, Kings Meadow, CH99 9FB
0800 363 400
Marks & Spencer Debt Help
http://www.debt-line.org.uk/Marks-and-Spenc...
