Car Finance Car Finance Calculator How It Works Help & Advice Contact Us Sign In Car Finance Calculator Get a quote No impact on your credit score Rates from 7.9% APR. Representative APR 20.7% Our car finance calculator is a great place to start your car buying journey. Find out how much you could borrow and what your monthly car loan payments might look like. Calculate car finance 4.6 out of 5 Amount to borrow £ To pay over 5 years Assuming your credit profile is: Excellent Good Fair Bad Total cost of credit 1,686.40 Total repayment 8,186.40 60 monthly payments of £ 136 44 Get a quote No impact on your credit score Rates from 7.9%: the exact rate you will be offered will be based on your circumstances, subject to status. Representative example: borrowing £6,500 over 5 years with a representative APR of 20.7%, an annual interest rate of 20.7% (Fixed) and a deposit of £0.00, the amount payable would be £168.48 per month, with a total cost of credit of £3,608.67 and a total amount payable of £10,108.67. We look to find the best rate from our panel of lenders and will offer you the best deal that you’re eligible for. We don’t charge a fee for our service, but we do earn a commission. This does not influence the interest rate you’re offered in any way. We only work with trusted partners How does the car finance calculator work? The car finance calculator is a handy tool that’ll help you find out how much your monthly car loan payments might be. All you need to do is enter the amount you’d like to borrow and how long you’d like to have to pay it back. The online finance calculator will then give you an estimate of your repayments depending on your UK credit banding – excellent, good, fair, or bad credit. And no matter your credit circumstances, we could help! How do I use the car finance calculator? Find out how much your payments might be in just four steps: If you already know how much you’d like to borrow, drag the slider from left to right until you hit that amount Decide how long you’d like to have to pay back the loan – this is known as the ‘term’ Select the credit score profile that best suits you from the drop-down menu. You can choose from Excellent, Good, Fair, or Bad Change both fields until you reach an estimated payment amount that you’d feel comfortable with Already have a set budget? The car finance calculator can still work for you. Just change the loan amount and repayment period until you land on that amount. Please keep in mind that the calculator is designed to give you an estimate of how much you might expect to pay for a car loan each month. The repayment amounts mentioned can vary based on your individual circumstances and the lender that approves you. How to choose a car loan The type of car loan that would be best for you depends on your personal circumstances, the car you’d like to buy, and how you’d like to use it. There are two main types of car finance available: hire purchase (HP) and personal contract purchase (PCP). Both these loans are secured against the vehicle but the way they work is quite different. With hire purchase, you effectively hire the car from the lender until you’ve paid for it in full. But, once you’ve made all your repayments and covered the ‘Option to Purchase’ fee, it’ll be all yours! In most cases, there are no mileage restrictions, but monthly payments can be higher than they would with other options. PCP deals can offer lower monthly payments than HP, but unlike hire purchase, you have options at the end of your agreement. You can choose to hand the car back, buy it by paying the balloon payment, or use any positive equity as a deposit in a new deal. Bad Credit Car Finance Calculator You can use our car finance calculator to find out how much your monthly repayments might be, even if you have a bad credit score. While it isn’t guaranteed, the calculator can let you know what to expect and help you understand how much you could afford to borrow for a used car. Simply select the bad credit banding and then enter the amount you’d like to borrow and your ideal loan term length. You’ll then be able to work out: Can you afford the monthly repayments for the car you want? Could you pay back more each month and pay off the finance sooner? Will you be able to keep up with your repayments for the full term of the agreement? Find out more about securing bad credit car finance. How to get a car loan with bad credit If you’ve ever missed a payment or been refused credit in the past, your credit score might need some work. But that doesn’t have to mean it’s the end of the road. Here at CarFinance 247, we work with a panel of lenders and some of them can help people with bad credit secure car finance. To use the calculator to get an estimate of your monthly repayments, just select ‘Bad’ from the drop-down menu. Why come to us for car finance? For us, used car finance is all about helping people improve their everyday lives. Whether it’s sorting out the school run, getting that big boot for the big shop, or just the car you’re proud to park outside the office, we work to get you the best deal from our panel of lenders. And thanks to our panel, we can look to find car loans for people with good credit, bad credit, or somewhere-in-between credit. Plus, you’ll have a personal account manager on hand to help you through the process. Apply and get your car finance quote Whether you’re looking for a Honda on HP, a Peugeot on PCP, or a personal loan for a Land Rover, we could help! It all starts with a quote. If you’re approved in principle, your dedicated account manager will give you a call to talk through your options. No strings attached. They’ll answer any questions you have and grant you access to our car search – a treasure trove of over 120,000 used cars. Found a car somewhere else? We can still help you find finance – just let your account manager know. Frequently asked questions What car can I afford? How much does car finance cost? Why get car finance through CarFinance 247? What do I need to apply for car finance? What vehicles can I finance through CarFinance 247? How much will my monthly car finance repayments be? Do CarFinance 247 charge any fees? How much can I borrow to buy a car? Read more Ready to start? Applying with us only takes a couple of minutes and won't affect your credit score Get a quote No impact on your credit score Get in touch Contact us CarFinance 247 Ltd., Universal Square, Devonshire Street North, Manchester, M12 6JH, Sitemap Partners' portal Dealers' portal Yes car credit Terms & Conditions Privacy Policy Cookie policy Acceptance use policy Complaints procedure Modern Slavery Act 247 Money Free ride to the top Also of Interest: I Have Recently Taken Out Car Finance but Need...Audi Car FinanceBMW Car Finance * The UK's number one online car finance broker by unique users to the website. Based on Hitwise data – 1,746,657 to CarFinance 247 vs. 666,020 for nearest competitor. January to December 2019. 96% of our customers recommend us: † Based on feedback left on independent review site Reviewcentre. May 2019. CarFinance 247 is a trading name of CarFinance 247 Limited. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. (Registration Number 06035525). CarFinance 247 is authorised and regulated by the Financial Conduct Authority for insurance distribution and credit broking (Firm Reference Number: 653019). CarFinance 247 is registered with the ICO (Registration Number Z1897658). Finance is subject to status and is only available to UK residents aged 18 and over. Written quotations are available on request. This site uses cookies so that we can provide you with the best user experience. By continuing to use the site you are consenting for cookies to be used. Further information on cookies and how you can disable them is available on our cookie policy. We use cookies to look after your data, personalise ads, and give you a great online experience. Accept Cookies Manage Cookies Find out about our cookie policy