Personal loans

A loan rate this low is
bound to stand out
On loans between £7,500 and £15,000

Personal loans

A personal loan is a great way of helping you to put your plans into action, whether you're buying a new car, consolidating debt, planning for a special occasion or improving your home.

Free AA Breakdown Cover for a year*

Every AA Loan comes with twelve months' free AA Breakdown Cover, so should your car break down at the roadside, we'll be there for you, 24/7.

If you're an AA Member already you can enjoy a half price upgrade to your existing AA Breakdown Cover. Choose from Home Start, Relay or Stay Mobile.

An AA Loan could offer you

  • A Moneyfacts 'best buy' low rate of 4.3% APR representative for loans between £7,500 and £15,000 over 18 months to 5 years
  • Other rates and loan amounts available from £1,000 to £25,000
  • Simple online application with an instant decision
  • Option to sign online to get your funds sooner

By applying for this loan Creation Consumer Finance could offer you an alternative loan should you be unsuccessful for an AA Loan. There will be no additional checks on your credit rating as a result of this offer.

Please enter an amount to borrow between £1,000 and £25,000 Term needs to be 18 months or more


Moneyfacts Best Buy logo

If you need help with your application or want to speak to someone about AA Loans please call 0800 096 8485.


APR stands for annual percentage rate. This is the total charge for the loan including fees and interest expressed as a percentage. The APR you are offered may differ from the representative example displayed. This is because each loan application is assessed on an individual basis and on a number of factors including the information you have provided in your application and data we obtain from credit reference agencies.

AA Loans are provided by Creation Consumer Finance Limited. AA Financial Services Limited acts exclusively in relation to loans as a credit intermediary for Creation Consumer Finance Limited. Registered Office: 6th Floor, Royston House, 34 Upper Queen Street, Belfast BT1 6FD. Registered in Northern Ireland NI32565. Correspondence address: Chadwick House, Blenheim Court, Solihull B91 2AA.

* Free 12 months Roadside Vehicle Breakdown Cover and 50% discount on a Breakdown Cover upgrade offers are only available to AA customers who have been accepted for a new AA Loan and had their loan funds paid to them.

To receive the free 12 months Roadside Vehicle Breakdown Cover you must set up an annually recurring transaction arrangement using your credit or debit card for the Breakdown Cover and it will be renewed automatically after 12 months as long as you choose not to amend or cancel. 50% discount on a Breakdown Cover upgrade is available for the remaining months of your current policy. Offer excludes bank account breakdown policies and excludes upgrades to BRC. If you already have a Breakdown policy with all cover options you are not eligible for the discount on upgrades offer.

For both offers, an email with instructions of how to activate the free breakdown cover or 50% discount on upgrades will be sent within 28 days of the AA Loan funds being paid to you. Offers do not form part of your loan credit agreement. Offers are not available in conjunction with any other offer or in a breakdown situation.

Creation Consumer Finance Limited is authorised and regulated by the Financial Conduct Authority (FRN 311518). The status can be checked on the Financial Conduct Authority's website or by calling 0800 111 6768

Car loans

Buying a car is one of the most important purchases you are likely to make, therefore it's worth doing your research. AA Cars can help, with 1000's of listed vehicles which all come with a free car history check so you can buy with confidence. Once you've chosen your perfect car, a low rate loan from the AA could help get you on the road.

Free AA Breakdown Cover for a year*

Every AA Loan comes with twelve months' free AA Breakdown Cover, so should your car break down at the roadside, we'll be there for you, 24/7.

If you're an AA Member already you can enjoy a half price upgrade to your existing AA Breakdown Cover. Choose from Home Start, Relay or Stay Mobile.

An AA Loan could offer you

  • A Moneyfacts 'best buy' low rate of 4.3% APR representative for loans between £7,500 and £15,000 over 18 months to 5 years
  • Other rates and loan amounts available from £1,000 to £25,000
  • option to sign online to get your funds sooner
  • no arrangement fee
Please enter an amount to borrow between £1,000 and £25,000 Term needs to be 18 months or more


Moneyfacts Best Buy logo

By applying for this loan Creation Consumer Finance could offer you an alternative loan should you be unsuccessful for an AA Loan. There will be no additional checks on your credit rating as a result of this offer.

If you need help with your application or want to speak to someone about AA Loans please call 0800 096 8485

Other loan amounts

Our loan amounts range from £1,000 to £25,000. Use our loans calculator to find out more

Lending criteria

Before applying for a loan, please make sure the below are true:

  • you are aged between 23 and 70 at date of application
  • you have a minimum income of £12,000 (gross) per annum
  • you have a bank/building society current account from which you can pay direct debits
  • you do not have a history of bad credit such as County Court Judgments (CCJs) or bankruptcy
  • you have been a permanent UK resident for at least 3 years

Buy a used car from a name you can trust

Buy a used car

APR stands for annual percentage rate. This is the total charge for the loan including fees and interest expressed as a percentage. The APR you are offered may differ from the representative example displayed. This is because each loan application is assessed on an individual basis and on a number of factors including the information you have provided in your application and data we obtain from credit reference agencies.

AA Loans are provided by Creation Consumer Finance Limited. AA Financial Services Limited acts exclusively in relation to loans as a credit intermediary for Creation Consumer Finance Limited. Registered Office: 6th Floor, Royston House, 34 Upper Queen Street, Belfast BT1 6FD. Registered in Northern Ireland NI32565. Correspondence address: Chadwick House, Blenheim Court, Solihull B91 2AA.

* Free 12 months Roadside Vehicle Breakdown Cover and 50% discount on a Breakdown Cover upgrade offers are only available to AA customers who have been accepted for a new AA Loan and had their loan funds paid to them.

To receive the free 12 months Roadside Vehicle Breakdown Cover you must set up an annually recurring transaction arrangement using your credit or debit card for the Breakdown Cover and it will be renewed automatically after 12 months as long as you choose not to amend or cancel. 50% discount on a Breakdown Cover upgrade is available for the remaining months of your current policy. Offer excludes bank account breakdown policies, excludes upgrades to BRC. If you already have a Breakdown policy with all cover options you are not eligible for the discount on upgrades offer.

For both offers, an email with instructions of how to activate the free breakdown cover or 50% discount on upgrades will be sent within 28 days of the AA Loan funds being paid to you. Offers do not form part of your loan credit agreement. Offers are not available in conjunction with any other offer or in a breakdown situation.

Creation Consumer Finance Limited is authorised and regulated by the Financial Conduct Authority (FRN 311518). The status can be checked on the Financial Conduct Authority's website or by calling 0800 111 6768

Personal loans explained

At the AA we offer unsecured loans, which are usually referred to as a 'personal loan'. An unsecured personal loan is an advance of money that is not secured by collateral such as your home.

A credit scoring will be undertaken to analyse whether you'll be accepted for an unsecured personal loan and will determine the amount of interest you will pay. The amount of interest you pay depends on your past history of meeting debts and repayments. Normally the better your credit rating, the lower your interest rate will be.

Typical unsecured personal loan amounts vary, but most will be between £1,000 and £25,000, and are repaid over one to five years. You can use an unsecured personal loan to buy a car or pay for home improvements, for special events like weddings and holidays, or to consolidate your existing debt.

Some common loan terms are described in more detail below and can help you understand the application process.

Arrangement fee

Some lenders will charge a fee for arranging a loan, usually a one-off payment. An AA Loan has no arrangement fee.

CCJs

CCJ stands for County Court Judgement. These are usually issued if you have defaulted on payments of previous debt. Having a CCJ will usually affect your credit score and ability to borrow money in the future.

Credit reference agencies and your credit rating

When borrowing money you agree that the lender can check your credit rating. Your credit history will be held by a credit reference agency such as Experian or Equifax. You can access your credit history by visiting a credit reference agency's website.

Debt consolidation

If you have outstanding debt spread across a number of other loans, credit cards or store cards, you can combine these into one loan with one fixed payment. This is called 'debt consolidation'.

Fixed repayments

This is a regular fixed monthly repayment amount payable for the duration of your loan.

Fixed interest rate loans

These are fixed and can't be changed by the lender or the customer for the term agreed. Even if the Bank of England change the base rate, your loan rate will remain unchanged, giving you added peace of mind.

Loan

A loan is a sum of money which is borrowed and paid back, usually with interest over a period of time.

Member loan

This is a special rate loan to AA members. An AA member is defined as a holder of a current, valid breakdown policy purchased directly from the AA, or holder of a Member Rewards card through your insurance or other AA policy.

Payday loan

Payday loans are usually smaller amounts repaid over 30 days, and carry a higher interest rate. These loans typically cover your expenses until you receive your monthly salary. Amounts are typically between £100 and £1,000, and interest rates can be high. We don’t currently offer payday loans at the AA.

Representative APR

The 'representative APR' (annual percentage rate) is the interest rate we charge to the majority of our customers who apply for a particular loan amount. We may offer a different APR based on your personal circumstances and the amount that you want to borrow.

Secured loans

Secured loans or homeowner loans are larger amounts – between £15,000 and £200,000. They are secured on your property – either a property you own or have a mortgage on. So if you can't meet repayments, you risk losing your property. We don't currently offer secured loans at the AA.

Settlement figure

You may repay all or part of your loan early at any time. If you repay part of your loan early your monthly repayments will be reduced but the duration of the loan period will remain the same. If you settle the loan early in full, you may have to pay interest on the amount repaid or the amount of interest that may be payable depending on the length of your loan.

Term

This is the period of time over which the loan has been taken.

Frequently asked questions about loans

How much can I borrow?

Our loans are available from £1,000 to £25,000

How long can I borrow the money for?

You can repay your loan over 12 to 60 months (1 to 5 years). The repayment term is selected in 6 monthly increments. A one year term is only applicable for loans under £5,000.

What can I borrow the money for?

You can take out a loan for almost any reason including home improvements, buying a car, taking a holiday and a whole host of others.

What does 'representative APR' stand for?

The 'representative APR' (annual percentage rate) is the interest rate we charge to the majority of our customers who take out an agreement for a particular loan amount. We may offer a different APR based on your personal circumstances and the amount that you want to borrow.

How do I apply for an AA Loan?

You can apply online now.

What information do I need to apply for an AA Loan?

To complete your AA loan application we'll need:

  • a form of identification
    • if you're a UK resident (excluding Northern Ireland) your passport, driving licence or a recent electricity bill
    • if you're resident in Northern Ireland your passport
  • a landline telephone number (if you don't have a home phone, this can be your broadband number)
  • your residential history for the last three years (including postcode)
  • your bank or building society current account details
  • your credit or debit card details

What is credit scoring and how do you use it?

Using the information you have provided, together with details from a credit reference agency, we assess your application and give it a score. This score is then matched alongside our 'acceptance' score, which is based upon detailed analysis of our experience with previous applicants.

If your application reaches the 'acceptance' score, your application is accepted. If it does not reach this score, it is refused. Credit scoring evaluates the risks attached to an application. This doesn't mean that a refused applicant is a bad payer, but simply means that our acceptance requirements haven't been met.

Is there a fee for arranging my loan?

No, there isn't a fee to arrange your loan.

How quickly will I receive a decision on my loan application?

In many cases we are able to provide an approval decision instantly after you apply online, However there may be times when this isn't possible or we may need to request additional information.

How secure is my online loan application?

You can rest assured that every online loan application is protected by the latest 128-bit encryption security software.

What happens if I want to repay my loan early?

You can repay part or all of your loan early at any time.

If you repay part of your loan early, the monthly repayment amount will stay the same but the loan term will decrease. There will be no 'early settlement' fee charged.

If you repay all of your loan early, there will be an 'early settlement' fee charged.

You can pay any extra fees by

  • bank transfer
  • online payment
  • pay by phone
  • pay by cheque

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Personal loan

Representative example

 

£7,500 over 60 months

 

at a fixed interest rate of 4.3% per annum would result in a representative

APR of 4.3% APR

 

monthly repayments of

£138.86

 

and a total amount payable of  £8,331.60