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Alliance & Leicester has reduced its internet car loan rate from 8.5% to just 7.9% APR for loans of between £5,000 to £20,000 - but only until Monday 24 June.

The rate on its Car Purchase Plan (CPP) has also been reduced to just 8.9% APR, also on loans of £5,000 to £20,000. CPP lets borrowers reduce their monthly repayments by enabling them to defer up to 60% of the value of their loan.

These exclusive rates are only available at

Once an offer has been made to the customer at these special rates, they remain valid for 28 days.

Andy Bayes, A&L's marketing manager for personal loans, said: "These special rates allow the customer to apply for their loan now and still have 28 days to take up the offer. This means that they can spend their time finding the car they really want - not worrying about how they will finance it. Compared to other loans available, these rates offer significant savings over many providers - including our on-line competitors."

The offer ends at 3pm on Monday 24 June and is not available in branches or via the telephone.


For further details or to arrange interviews:

Alliance & Leicester Press Office 0116 200 3355

The full version of this release includes tables of A&L APRs and competitor comparisons. Please contact the press office if you would like this.

Photographs of Andy Bayes, A&L's marketing manager for personal loans,
can be downloaded free from Newscast at

Telephone 0207 608 1000

Notes to editors:

Car Purchase Plan

The Car Purchase Plan enables buyers to borrow up to £20,000 over four years, and defer up to 60% of the loan. Finance is not secured against the car and CPP means they are not tied to one vehicle or dealer.

At the end of the loan period, they can:

- sell the vehicle to pay off the remainder of the loan;

- change car and use the trade-in value of their old vehicle to clear the deferred amount;

- keep the vehicle and continue making the same fixed low monthly payments until the whole amount is

Features of A&L's car-dedicated website include:

* Tips on buying and selling cars

* Parker's Price Guide

* Car data checks

* Company car tax calculator

* Search through thousands of cars for sale

* Motor industry news

This press release was distributed by ResponseSource Press Release Wire on behalf of Alliance and Leicester in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit