Car Finance Calculator
From 10.9% APR, representative 14.7% APR
Breeze through our simple form and get a personalised quote in 2 minutes.
“I was blown away by how lightning fast and genuinely easy the team at Oodle made getting car finance”
Melina McLean
We do all the leg work to make your journey as straightforward as possible.
"Quick service which was easy and uncomplicated sorting my car in no time"
Kevin B.
You can take out a car loan with us and shop for your car just about anywhere online. Once the cash is in your account, you're free to buy the car that suits you best, wherever you find it.
Car buying made simple and managed to buy
my dream car...”
Darren G.
From 10.9% APR, representative 14.7% APR
How much will my monthly car finance repayments be?
The exact amount you will have to repay each month will depend on the amount you want to borrow, the interest rate you are offered, and the length of your loan term.
For example, if you have a solid credit rating you may be offered the best (lowest) rates, meaning you will be charged a lower interest rate on your loan - less interest means you pay back less overall. Similarly, if you choose a longer loan term, whilst your monthly repayments may be lower, the total amount you pay back will be higher.
You can get an idea of what your monthly payments will look like by using our handy car finance calculator. Or you can get a personalised quote in under 2 minutes, without impacting your credit score, here.
What does APR mean?
APR (Annual Percentage Rate) is a calculation that allows you to understand the total cost of borrowing over a year. It’s a percentage of the money you’ve borrowed that includes the interest rate and any fees attached to the loan; it’s a helpful way to compare the total cost of different loans.
There are a number of factors that a lender will take into account when calculating your APR, but generally, the better your credit rating, the lower your APR will be. A lower APR means a lower interest rate, which will reduce your monthly payments.
Does my credit rating affect my chances of getting car finance?
Yes. Your credit rating directly impacts your likelihood of getting car finance. Lenders will look at your credit score to assess how reliable you are as a borrower and work out whether to offer you a finance deal. In general, the higher your credit rating, the more likely you are to be offered finance. If your credit score is excellent, you can expect to be offered the best (lowest) interest rates and more favourable loan terms.
If you have a low credit rating your options are more limited: some lenders could turn you down. You may still be offered finance from specialist finance providers, but you will be charged higher rates of interest and can expect stricter loan terms.
Read more about credit scores and how to keep yours in good shape.
Am I eligible for car finance?
If you are over 18, you live in the UK and you can afford to make the repayments, then you are in a strong position to be eligible for a car loan. Other factors that affect your eligibility include your credit score, your income, and the specific criteria of the finance provider you choose.
What information and documents do I need to Apply For Car Finance?
When you apply for car finance, lenders will carry out credit and eligibility checks to determine if they can offer you a finance agreement. You may need documents to prove to the lender that the information you provided in your application was accurate - although lenders can complete these checks automatically in many cases. The information required may include
Proof of identity – All applicants must be aged 18 or over.
Proof of address – Address history from the past three years.
Proof of earnings – This could include personal income, and household income if you have dependents such as children.
Employment information – Details about your current job, including your role and how long you’ve been employed.
How long does it take to get a car finance decision?
It can take just a few minutes to find out if you're pre-approved for a car loan from Oodle. Once you complete your application you'll have the money in your account the next working day - ready for you to buy the vehicle that suits you, wherever you find it.
How much can I borrow with car finance?
You can borrow up to £35,000 with Oodle. The exact amount you can borrow and the duration of your loan will depend on several different factors, including:
Your credit score – your credit score determines your annual percentage rate (APR). The better your score, the lower the APR and the total loan amount.
Your income and affordability of your loan amount – we consider your monthly income and regular outgoings to calculate your disposable income and your ability to keep up with your monthly repayments.
Representative 14.7% APR