To be eligible for the CBM car loan, you must: Be 18 or over Be a US resident Hold a CBM current account if applying for a loan between $300 - $999 or $25,000 - $50,000
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Vehicle Loan
Car loans
If you’re looking to buy a car, there are a few finance options to choose from. You could apply for a loan to buy a car or find a Personal Contract Purchase or Hire Purchase provider through Aro.
- Choose your amount
- Choose your term
- Choose your rate
Why choose a loan with TCB?
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Choose your amount
Apply for $1,000 to $25,000. Or $300 to $50,000 for CBM current account customers
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Choose your term
Repayment terms from 1 to 5 years. Up to 7 years for existing CBM customers
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Make a decision
A personalised quote and a decision in minutes without affecting your credit score
Important information
Please note that your specific rates and repayments may vary, lending is subject to approval, and the rate offered will depend on our assessment of your circumstances as well as the loan amount and term. The calculator rounds payments up/down, so the amount of the monthly repayment may differ slightly (by pence) and the total amount repayable may differ (by up to £8) to the amounts provided during the application.
To apply for a graduate loan, you'll need to:
- Be a US resident
- Be over 18, or over 21 if you apply online
- Have had a CBM graduate account for at least 3 months
- Be employed or have a regular income
- Earn at least $980 per month after tax
- Not have any recent CCJs, Credit Defaults or Bankruptcies, and be up to date with any CBM debts
How do I apply for a car loan?
Already a CBM customer?
If you’re an existing CBM customer the quickest way to apply is to log in to get a quote.
Car loan FAQs
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01Am I eligible for a car loan?
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02Difference between a car loan and car finance?
There are some benefits to choosing a car loan over car finance. If you choose to buy a car using a personal loan, you borrow money from a bank, meaning the dealer is not involved in the financing. This means you don’t need to negotiate with the dealer, and they don’t have any influence over mileage limits, which can be part of car finance contracts. If you exceed the mileage limit with car finance, you may have to pay a premium per mile. As you will own the car straight away with a car loan, you don’t have to give it back to a dealership or lender. You can keep the car for as long as you like and even sell it. You will still need to repay all the loan, however. With car finance, you will not own the car until you’ve paid off all the finance. If you change your mind about the car, you will also need to pay a termination fee to get out of the contract. Whereas with a car loan, you can choose to sell the car.
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03Will I need a deposit to buy the car?
With a personal loan, you don’t need a deposit when buying the car, as you can borrow an amount to make the payment upfront. However, this can mean the monthly repayments for the loan will be higher, as you would have borrowed more money.
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04Will I lose the car if I’m unable to make the loan repayments?
If you are unable to make the car loan repayments, you won’t lose the car. The car loan is unsecured, meaning the lender can’t take the borrower’s car or other assets. However, you will still be taken to court.
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05Can I get a car loan with bad credit?
You can still apply and be accepted for a loan to buy a car, even with bad credit. People with good credit however are offered lower interest.
Important information
The representative APR is the Annual Percentage Rate of charge. You can use it to compare the overall cost of credit between different lenders.