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Car Finance Calculator

Looking to buy a car? Use our car financing calculator to find out if you’re eligible for pre-approved car finance with Oodle. Then head to one of our approved dealers or to Oodle’s Marketplace to get the very best deal for your budget.


Calculate monthly car finance payments

The world of car finance can be a confusing one – but we’re here to help simplify things. Our quick and easy car finance calculator will estimate what your monthly payments might be, based on your income and your desired loan amount. Don’t worry, you’re not committing to a purchase; this tool is simply a useful guide to help you figure out a budget that suits you best, before you complete a full application for car finance.

It does this by giving you a good idea of what your monthly payments could look like according to how much you’re looking to borrow. Use our car finance calculator to help you decide whether car finance could be a good option for you, without affecting your credit rating.

12 months
60 months

Your monthly payment


Total borrowed


Total cost of credit


Apply now for your personalised, no-obligation quote

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* Representative Example: With hire purchase credit of £10,000 over 60 months based on a cash price of £10,000 with £0 deposit and a representative APR of 15.9%, the amount payable would be £235.92 a month, with a total cost of credit of £4,255.20 and total amount payable of £14,255.20. The total amount payable includes a £50 documents fee and £50 option to purchase fee.

This calculator is for illustrative purposes only. The calculated monthly repayment is not a quote or an offer of finance. Our finance rates vary and depend on individual circumstances. You will not own the vehicle until you have made the final payment and the option to purchase fee. Lending is subject to status and available to applicants over 18 years old.

What are the car finance options?

Car loans

A car loan is a type of finance that helps car buyers cover the cost of their purchase. The buyer borrows a lump sum of cash up front and then makes monthly payments over a set amount of time (which can vary depending on the agreement type).

Hire purchase

Hire purchase lets car buyers take out a loan equal to the total value of the car, minus an initial deposit. You then make fixed monthly repayments over a pre-agreed term until the loan is paid off, at which point – once you’ve paid the option-to-purchase fee – the car is yours.  

Personal contract purchase

Personal contract purchase (PCP) is another popular type of car finance. Rather than borrowing a loan equal to the total cost of the car, as you do with HP, your PCP loan covers only the estimated depreciation of the vehicle, plus any fees and interest charged for hiring.

Personal contract hire

Also known as PCH, personal contract hire is essentially a form of long-term rental and is a popular way to 'lease' a car. Typically, you pay an initial rental up front – often between 1-12 months – and agree to lease the car for a set period. At the end of the agreement, you return the car and settle any further charges (e.g. excess mileage and/or unreasonable wear and tear) that may apply.

Why choose Oodle?

We are delighted to have helped over 150,000 happy customers find the best car for their budget – and we’d love to help you find yours, too. Once we’ve pre-approved your finance application you’ll be able to browse thousands of quality cars online, or visit an Oodle approved dealer near you. Our friendly Oodle experts are available every step of the way should you need any help.

  • Delivery service

    Our optional delivery service covers any car bought through our online marketplace. Price is distance dependent. Our support team can confirm the total cost, find a time that suits you, and get it all booked.

  • Explore thousands of cars

    With over 20,000 cars on the Oodle Marketplace, we're sure you'll find the perfect one to suit you and at a price you can afford.

  • 7 day return guarantee

    We're sure you'll love your car, but if you decide it's not for you then you can take advantage of our free 7 day return on all cars delivered through our marketplace.

FAQs about calculating car finance

  • Am I eligible for car finance?

    When you apply for car finance, you’ll be subject to credit and certain eligibility checks. In principle, you could be eligible for car finance if you are:

    • At least 18 years old
    • A UK resident of at least 3 years
    • Employed or have a regular, stable income
    • Looking to finance a car that’s less than 8 years old at the start of your agreement

    The success of your application will depend on a few different factors, with your credit score having the most impact. The better your credit score, the more likely you are to have your application approved and receive a lower annual percentage rate (APR).

  • What information is needed for a financing decision?

    You’ll have to go through credit and eligibility checks to apply for car finance. You will need to provide us with:

    • Proof of age
    • Proof of address
    • Proof of earnings
    • Employment status
    • A valid UK driving licence
    • In certain instances, a guarantor

    The success of your application is largely impacted by your credit score.

  • How long does it take to get a financing decision?

    With Oodle, you should be able to get a decision and your personalised quote in just 20 seconds. We’ll then send you an email with a unique verification code with a link to the e-sign website. You’ll have to:

    • Confirm your personal details for us to check
    • Check the details of your pre-contract information and finance agreement
  • How much can I borrow to buy a car?

    You can borrow up to £40,000 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.