The amount you can borrow will depend on the purpose of your loan, the length of the loan and your ability, in the lenders eye, to be able to afford the monthly repayments. As a rule of thumb the loan should not outlast the asset you are buying, so whilst you may be able to borrow for a new car over a term of five years, if you were buying a cheap second hand run around, then you may only be able to borrow over a period of a couple of years. You don’t want to be in a position where you are still paying for something after it has come to the end of its useful life.