Car Buying Plan Information

Borrow up to £25,000

Our Car Buying Plan lets you borrow from £2,500 to £25,000. It’s not just for cars – you can buy a boat, motorbike or caravan too. Try our car buying plan calculator to help work out how much you could borrow.

Deferred payment

The amount you can defer is fixed – and depends on the term of your Car Buying Plan.

Term	Deferred Amount
12 months	60%
24 months	50%
36 months	40%
48 months	30%
60 months	30%

For example, if you borrow £7,500 over 48 months at a typical 8.7% APR, you make monthly repayments on £5,250 and defer £2,250 to the end of the loan. You make 48 repayments at £144.79 and a final repayment of £2,250 making a total amount payable of £9199.92. If you choose not to make the final repayment of £2,250 you can continue making 16 monthly repayments at £144.79 and a final repayment of £73.34. This will make a total amount payable of £9339.90. Borrow up to £25,000.

At the end of the term, you can choose how you pay off the deferred part of your loan.

Keep your car and carry on paying your low monthly repayments until the whole loan is repaid.
Keep your car and pay off the remainder of your loan with a lump sum.
Sell your car and use the money to pay off the rest of the loan. Then buy a new car with a new M&S Car Buying Plan (subject to status).