Car loans
Pay a fixed monthly amount for the length of your HP agreement, and after the final payment the car belongs to you.
AA Cars acts as an introducer to Evolution Funding Limited.
AA Cars and Evolution Funding are brokers and not lenders.
You pay a fixed monthly amount to repay the borrowed funds for a car. Then at the end of the agreed term you can either make a final balloon payment to keep the car, choose to part exchange it, or return it to the dealer.
AA Cars acts as an introducer to Evolution Funding Limited.
AA Cars and Evolution Funding are brokers and not lenders.
It's like a long-term car rental. You drive a brand-new car for a fixed monthly amount over the lease term. When you return it at the end of the term, you have the option of taking a new lease.
AA Financial Services Limited introduces you to Wessex Fleet Solutions and is acting as a credit broker and not a lender.
AA Financial Services Limited receives a commission from Wessex Fleet Solutions, which can vary based on the lender and vehicle selected. By placing an order to lease a vehicle, you consent to the commission being paid and acknowledge AA Financial Services Limited is not acting impartially.
The cost of your personal car loan depends on the repayment period or term, and your credit score.
A car loan taken out over a 3-year term will have higher monthly repayments than one for the same amount borrowed over 5 years. However, the total cost over 3 years will be lower as you pay less interest.
If you have a low credit score, your car loan's interest rate could be higher. You can check your credit rating at credit reference agencies such as Equifax, Experian and TransUnion, though these agencies all use different scoring systems.
When you take out a car loan, you borrow an amount of money and pay it back over an agreed term in monthly instalments. The added interest means you repay more than the amount you borrowed.
Many lenders provide an online calculator that allows you to vary the car loan amount and term in order to find a monthly repayment that works for you.
If you can, always check your eligibility for the car loan before applying, and this should not affect your credit score. If you're likely to be approved, you can then complete a more comprehensive application form which will then end with a loan offer confirming your rate and term.
Bank of Ireland UK adheres to The Standards of Lending Practice which are monitored and enforced by the Lending Standards Board. A copy of the Statement of Lender and Borrower responsibilities is available here.
AA Financial Services Limited acts as a credit intermediary and introduces customers to Bank of Ireland (UK) plc as its exclusive loans provider.
AA Financial Services Limited is authorised and regulated by the Financial Conduct Authority, reference number 727859. Registered Office: Level 3, Plant, Basing View, Basingstoke, Hampshire RG21 4HG. Registered in England and Wales number 912211.
Bank of Ireland UK is a trading name of Bank of Ireland (UK) plc which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 512956. You can confirm this registration on the Financial Services Register on the FCA website. Registered in England and Wales number 7022885. Registered office: 45 Gresham Street, London EC2V 7EH.
AA Cars is a trading name of Used Car Sites Limited (registered in England and Wales number 4546950) and acts as an introducer to Evolution Funding Limited. Used Car Sites Limited is an appointed representative of AA Financial Services Limited (AAFS). AAFS is authorised and regulated by the Financial Conduct Authority, reference number 727859. Both these companies are members of the AA Limited group of companies and are registered at: Level 3, Plant, Basing View, Basingstoke, Hampshire RG21 4HG.
AA Cars introduces customers (covering HP and PCP) to Evolution Funding Limited. Evolution Funding Limited is authorised and regulated by the Financial Conduct Authority (reference number 823324). Registered address: Thompson Close, Whittington Moor, Chesterfield, Derbyshire S41 9AZ. Evolution Funding Limited is a credit broker not a lender.
AA Lease is provided under AA brand licence by Wessex Fleet Solutions Limited. AA Financial Services Limited and Wessex Fleet Solutions Limited are credit brokers and not lenders. Wessex Fleet Solutions Limited is authorised and regulated by the Financial Conduct Authority, registered number 671619.
