Car Finance Calculator

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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

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Trustpilot 4 Half Stars
4.6 out of 5
5 years
Total cost of credit £ 2000
Total repayment £ 2000
48 monthly
payments of
£ 245 98

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:

  1. If you already know how much you’d like to borrow, drag the slider from left to right until you hit that amount

  2. Decide how long you’d like to have to pay back the loan – this is known as the ‘term’

  3. Select the credit score profile that best suits you from the drop-down menu. You can choose from Excellent, Good, Fair, or Bad

  4. 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.

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

Affordability is an important part of the car finance process. A range of factors determine the car you can afford to buy, including your credit score, the amount you’d like to borrow, and how much disposable income you can spare each month.

Having a budget in mind before you start searching for a car can help you choose your new wheels with confidence – and the car finance calculator is a great place to start!


The cost of car finance is typically defined as the amount of money you borrow plus the interest and any other charges that you’ll pay on the loan over the repayment term.

If you choose Hire Purchase (HP) car finance, your monthly repayments will cover a portion of the car finance and your interest payment. The interest rate that you’re offered depends on a few different things including your credit score. Improving your credit score could give you access to better rates.


At CarFinance 247, we work to find you the best deal from our panel of lenders. And thanks to our lending panel, we can help people with a variety of different circumstances find car finance. If you’re approved in principle, we’ll give you a call to talk through your options. Your dedicated account manager will take care of all the admin along the way so you can focus on the fun bit – finding the right car for you!


If you have a good idea of how much you’d like to borrow or have already found a vehicle you’d like to buy, it’s time to apply. The first step is to get a quote. Our online application form will ask you to enter some personal details, your current employment status, monthly income, and information about the vehicle you’re looking to buy so that we can get to work finding you an approval in principle from our panel of lenders. Find out more about the paperwork you need to prepare for car finance here.


CarFinance 247 works with a panel of lenders, which means we can help you find finance for a wide variety of different vehicles, including cars, vans, motorcycles, caravans, and taxis.


Our finance calculator is designed to give you an idea of how much you might pay. We can’t confirm exactly how much your monthly payments will be until you’ve completed our application form and decided on the car you’d like to buy.

This is because how much you’ll pay will depend on a few different factors including how much you want to borrow, how long you need to pay it back, and your credit score.

You’ll be able to review the full payment schedule and check whether you’re happy to continue with the finance before you sign your agreement.


No, at CarFinance 247, we don’t charge you anything for arranging finance.

You might need to pay an administration fee to the dealer and some dealerships offer optional services that you can pay for, like a delivery or valeting charge. To find out if any fees apply to you, we recommend speaking to the dealer you’re buying the car from.


At CarFinance 247, we work with lenders that can finance amounts between £2,000 and £100,000.


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* 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.

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