There’s no hard-and-fast answer to the question of whether it’s cheaper to buy a car online. Buying a vehicle online has its conveniences, but it does also have drawbacks, including limitations on your car finance eligibility.

What to think about when buying a car online

Consumers in almost every area are moving towards digital-first purchasing. Whether it’s your food shop, a new coat or even a car, there’s a lot to be said for the convenience of online purchases.

When it comes to buying a car, there are advantages to purchasing one online. Firstly, it saves you the time and effort of having to shop around different dealerships, and also reduces the pressure of haggling with a salesperson. Plus, if you know exactly what car you want and aren’t phased about test driving different models, then purchasing a car online can be expedient.

That said, there are potential drawbacks to buying a car online. Whilst purchasing a car on the internet ensures you won’t be pestered by any sales people, you’re less likely to be able to take advantage of discounts, and your potential to negotiate will be significantly reduced.

You’ll also be limited in terms of your car finance options. You’ll be able to fund the purchase of a vehicle online by way of a personal loan or a car loan, but other forms of car financing may not be available. Buying the car through a personal loan would also make you the car’s outright owner, which is a responsibility that you may not want.

Find out more about financing an online car

If you’re thinking about buying a car online but have questions about what kind of car finance this may afford you, contact our friendly car credit specialists today on

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating


  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed


  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs


  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit


  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past


  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan

X monthly repayments of

Typical rate

Loan amount

Total payable




*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!