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AA Loans offer free car warranty

15th June 2005 Print

One of the biggest worries for buyers of used cars is that their dream motor quickly turns into a nightmare, according to research by AA loans.

"A car is the biggest purchase, other than a home, that most people make and they have two major concerns. The first is how best to pay for their new car and the second is whether it will be reliable," says Lloyd East, director of AA financial services

But from 17 June, that worry will be removed for those who buy their car with an AA unsecured loan because every borrower can claim a free, six-month AA warranty for their car.

AA research found that most car buyers worry about the reliability of the car they have just bought and if they would be covered if something went wrong. "Such concerns often temper what should be an exciting purchase and can turn joy into disappointment. This is especially true for those who buy a car from a private vendor or an independent dealer where they have little comeback if it goes wrong.

"The AA warranty covers a wide range of potential faults, for example, it includes the cooling and electrical systems." Lloyd East points out. "Only the AA offers this unique combination of a car warranty with a loan and we believe it will help overcome many worrying car buying decisions."

Lloyd East says that the AA is widely trusted to help car owners get out of trouble. "Coupled with a market-leading lending rate, this is an offer that car buyers can trust, too," he adds.

The warranty covers most car models up to 10 years old and with up to 100,000 miles on the clock.

The AA has also maintained its low loan interest rates, currently 5.9 per cent typical APR online. Apart from the free warranty for car loans, benefits include:AA aims to provide a lending decision within five minutes;
if successful, the money is dispatched within 24 hours
three month ‘repayment holiday’ before for the first repayment is collected