UK car repair loans from £200-£1,500

With Moneyboat, applying is simple.

1. Choose how much you’d like to borrow and for how long.
2. Complete the online application with your details.
3. We’ll carry out affordability and credit checks to assess your application.

If you’re approved, you’ll see exactly how much you’ll repay before you decide whether to go ahead.

All applications are subject to status and affordability checks.

Once approved and accepted, funds can be sent within 15 minutes*. The exact timing will depend on your bank’s processing times.

*‘15-minute funding’ means that funds can be deposited into customers’ bank accounts within 15 minutes once all checks have been completed. This doesn’t mean funds will be available within 15 minutes of the start of the application or within 15 minutes of signing your loan agreement. There are a number of checks that must be completed first, and provided no concerns are identified, funds will then be released. We’ll let you know when all required checks have been completed, and provided there are no further issues, you should receive funds into your bank account within 15 minutes of final approval.

Repayments are made in fixed instalments over your agreed term.

You’ll know exactly how much you need to pay and when, as this will be clearly set out before you accept the loan.

No. In the UK, all regulated lenders must carry out credit and affordability checks before approving a loan.

These checks help make sure borrowing is suitable and manageable based on your circumstances.

Before accepting a loan, you’ll see the full repayment amount in pounds and pence. Our interest is 0.79% – lower than the 0.8% cap – and we charge no fees when taking a loan. You’ll also never repay more than 100% of the amount borrowed.

Before we approve a loan, we check that the repayments look affordable for you.

We review your income, essential outgoings and any existing commitments. If we don’t think the loan would be manageable, we may decline the application. That’s to help protect you from taking on debt that could cause problems later.

There are several reasons why an application may not be approved, including:

• Affordability concerns
• Insufficient or irregular income
• Existing financial commitments
• Incomplete or incorrect information
• Credit history factors

If we decline an application, it’s because we believe the loan may not be suitable or affordable based on the information available to us.

We’re a direct lender.

You apply directly with us – not through a broker or loan-matching service. We don’t pass your details to other lenders unless you instruct us to, and you won’t be contacted by multiple loan companies as a result of an application with us.

Yes, you can repay your loan early at any time.

If you do, you’ll only pay interest for the days the loan was outstanding, in line with regulatory rules. There are no early repayment charges.

If you think you might miss a payment, please contact us as soon as you can. We’re here to help.

Missing payments can affect your credit file and may lead to additional charges, subject to FCA limits. The sooner we speak, the sooner we can look at your options together.

Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.

Yes. A full credit search will be carried out when you apply for a Moneyboat loan, and your repayment history may be reported to credit reference agencies.

Making repayments on time may improve your credit file. Missing payments may negatively affect your credit score.

A car repair loan is based on how the money is used rather than a separate product type.

With Moneyboat, loans are repaid in instalments over a number of months, so you can spread the cost rather than paying everything back at once.

You may be able to get a loan if you are receiving benefits, as long as you are also in full-time employment and your overall income is sufficient to comfortably cover the repayments.

When reviewing applications, we consider your full financial situation, including your income, essential outgoings and existing commitments. All applications are assessed for affordability before any loan is offered.

All applications are assessed based on affordability.

Read our minimum lending requirements for more information.

No. No lender regulated by the Financial Conduct Authority can guarantee approval.

All applications are assessed based on affordability and status.

No. Moneyboat only provides one loan at a time.

You would need to repay your current Moneyboat loan in full before applying again, and any existing commitments would still be considered in our affordability checks.

You can borrow between £200 and £800 as a new customer with Moneyboat, and up to £1,500 as a returning customer - depending on your circumstances and affordability checks.

The amount you’re offered will be based on your income, outgoings and existing commitments.

If you already have a figure in mind, you can explore options such as £200 loans, £300 loans, £400 loans, £500 loans, £800 loans, and £1,000 loans.

Before you accept any loan, you’ll see your full repayment amount and instalments clearly set out.

Yes. Many customers use a loan to cover MOT-related costs, especially if repairs are needed to pass the test.

This might include work on brakes, tyres, suspension or emissions issues identified during the test.

If the repairs need to be completed quickly, taking out an MOT loan and spreading the cost over instalments can make things easier to manage.

You’re still welcome to apply if you have a poor credit history.

We look at your current financial situation, including your income, regular outgoings, and existing commitments, to assess whether repayments would be manageable.

If you’re searching for loans for car repairs with bad credit, it’s important to know that approval isn’t guaranteed. We’ll only offer a loan if we believe it’s affordable for you.

Yes. You have the right to withdraw from your loan agreement within 14 days of signing.

If you choose to withdraw, you’ll need to repay the amount borrowed along with any interest that accrued while the loan was outstanding.

Most applications can be completed online without uploading documents straight away.

You’ll usually be asked to provide:

• Your personal details (name, address and contact information)
• Details of your income and employment
• Information about your regular monthly outgoings
• Your UK bank account details

In some cases, we may ask for additional information to verify your identity or confirm your income. This could include photo ID or recent bank statements, depending on your circumstances.

Any checks we carry out form part of our responsible lending and affordability assessment.