Car finance calculator
Representative 14.7% APR
Representative 14.7% APR
Representative 14.7% APR
Looking for car finance? Use our quick car finance calculator to help you work out how much you could borrow, what your monthly repayments could be as well as the total cost of credit.
Calculate monthly car finance payments
Calculate monthly car finance payments
Calculate monthly car finance payments
The world of car finance can be a confusing one – but we’re here to help simplify things. Use our car finance calculator to help you decide whether car finance could be a good option for you, without affecting your credit rating. The calculator will give you a good idea of what your monthly payments could look like based on how much you’re looking to borrow.
Don’t worry, you’re not committing to anything; 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.
The world of car finance can be a confusing one – but we’re here to help simplify things. Use our car finance calculator to help you decide whether car finance could be a good option for you, without affecting your credit rating. The calculator will give you a good idea of what your monthly payments could look like based on how much you’re looking to borrow.
Don’t worry, you’re not committing to anything; 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.
The world of car finance can be a confusing one – but we’re here to help simplify things. Use our car finance calculator to help you decide whether car finance could be a good option for you, without affecting your credit rating. The calculator will give you a good idea of what your monthly payments could look like based on how much you’re looking to borrow.
Don’t worry, you’re not committing to anything; 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.
How does the car finance calculator work?
Our car loan calculator works by giving you an estimate of what your monthly payments could look like based on the amount you want to borrow, your preferred loan term, and your credit profile. It uses a representative APR to help you understand the potential costs of financing a car, without impacting your credit score which helps you manage your budget with confidence.
How do I use the car finance calculator?
Using the Oodle car finance calculator is simple. Just select your credit profile from one of the options provided then use the slider to select how much you’d like to borrow (you can manually enter the exact amount too) and how long you’d like to repay the loan back. The calculator will then show your estimated monthly repayments, total repayable amount, and APR. It’s a quick, no-obligation way to check if car finance could suit your budget.
Compare your car finance options
Typically, there are a few ways to finance a car. Each option comes with its own advantages and disadvantages. The best choice for your car finance will depend on your circumstances.
Car loan
A car loan is a financing option where you borrow a lump sum of money to buy a car and repay it through monthly instalments, but you’ll own the vehicle from the start. While no upfront deposit is required, it’s important to note that the interest rate and monthly payments can be higher than with other car finance options.
Personal contract purchase
Personal contract purchase (PCP) allows you to buy a car through fixed monthly instalments, like hire purchase. PCP tends to have lower monthly payments as you don't have to pay the car's total value. But should you decide to keep the car at the end of the agreement you will need to pay a substantial ‘balloon payment’ to purchase it outright.
Personal contract hire
Personal Contract Hire (PCH) is a flexible leasing option that lets you hire a car for a fixed term with manageable monthly payments and an upfront rental fee. You get full use of the vehicle during the lease, then simply return it at the end - there’s no option to buy, making it ideal if you prefer driving the latest models without long-term ownership.
What is the best car financing option for you?
Personal car loan
Personal Contract Purchase
Hire purchase
Personal contract hire
Typical length of agreement:
Usually 1-7 years
Usually 1-5 years
Usually 1-5 years
Usually 1-4 years
Initial deposit required?
No
Usually but not always
Usually but not always
Usually but not always
Who owns the car?
You, although you will still need to repay the debt
The lender or finance company unless an optional final balloon payment is made
The lender or finance company until final repayment plus option-to-purchase fee is made
The lender or finance company, always
Mileage restrictions
No
Yes
Sometimes
Yes
What is the best car financing option for you?
Personal car loan
Personal Contract Purchase
Hire purchase
Personal contract hire
Typical length of agreement:
Usually 1-7 years
Usually 1-5 years
Usually 1-5 years
Usually 1-4 years
Initial deposit required?
No
Usually but not always
Usually but not always
Usually but not always
Who owns the car?
You, although you will still need to repay the debt
The lender or finance company unless an optional final balloon payment is made
The lender or finance company until final repayment plus option-to-purchase fee is made
The lender or finance company, always
Mileage restrictions
No
Yes
Sometimes
Yes
What is the best car financing option for you?
Personal car loan
Personal Contract Purchase
Hire purchase
Personal contract hire
Typical length of agreement:
Usually 1-7 years
Usually 1-5 years
Usually 1-5 years
Usually 1-4 years
Initial deposit required?
No
Usually but not always
Usually but not always
Usually but not always
Who owns the car?
You, although you will still need to repay the debt
The lender or finance company unless an optional final balloon payment is made
The lender or finance company until final repayment plus option-to-purchase fee is made
The lender or finance company, always
Mileage restrictions
No
Yes
Sometimes
Yes
Car finance thats actually simple
Car finance thats actually simple
Car finance thats actually simple
Whether you’re after your dream car, thinking about switching to electric, or just need a bit more space in the boot, an Oodle Car Loan could help you cover the cost.
Fast application - money
in your account next
working day
Your car, your rules, its yours from day one.
Shop online or
in a dealership
Excellent rated,
dedicated UK team.
Rates from 10.9% APR, representative 14.7%
Representative Example: Borrowing £10,000 over 60 months with a fixed interest rate of 14.7% per annum and a representative APR of 14.7%, your monthly repayment would be £232.53. The first payment would be £282.53, which includes a £50 opening fee. The total cost of credit would be £3,900.00, making the total amount payable £13,900.00. The representative APR includes all interest and fees.
Our ‘representative APR' means at least 51% of our customers are offered this rate. It’s a good way to compare lenders. Remember your rate will depend on lots of things like your credit score, so it might be higher or lower than this.
Rates from 10.9% APR with an APR 14.7%
Representative Example: Borrowing £10,000 over 60 months with a fixed interest rate of 14.7% per annum and a representative APR of 14.7%, your monthly repayment would be £232.53. The first payment would be £282.53, which includes a £50 opening fee. The total cost of credit would be £3,900.00, making the total amount payable £13,900.00. The representative APR includes all interest and fees.
Our ‘representative APR' means at least 51% of our customers are offered this rate. It’s a good way to compare lenders. Remember your rate will depend on lots of things like your credit score, so it might be higher or lower than this.
Rates from 10.9% APR with an APR 14.7%
Representative Example: Borrowing £10,000 over 60 months with a fixed interest rate of 14.7% per annum and a representative APR of 14.7%, your monthly repayment would be £232.53. The first payment would be £282.53, which includes a £50 opening fee. The total cost of credit would be £3,900.00, making the total amount payable £13,900.00. The representative APR includes all interest and fees.
Our ‘representative APR' means at least 51% of our customers are offered this rate. It’s a good way to compare lenders. Remember your rate will depend on lots of things like your credit score, so it might be higher or lower than this.
FAQs about calculating car finance
FAQs about calculating car finance
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.
The easiest way to work out how much your monthly repayments would be is by using our handy car finance calculator. Just tell us what your credit score rating is, how much you want to borrow and the length of the loan term - then we’ll tell you what your monthly repayments are likely to be.
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.
The easiest way to work out how much your monthly repayments would be is by using our handy car finance calculator. Just tell us what your credit score rating is, how much you want to borrow and the length of the loan term - then we’ll tell you what your monthly repayments are likely to be.
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.
The easiest way to work out how much your monthly repayments would be is by using our handy car finance calculator. Just tell us what your credit score rating is, how much you want to borrow and the length of the loan term - then we’ll tell you what your monthly repayments are likely to be.
What does APR mean?
APR – short for annual percentage rate – is a percentage amount of the total cost of your borrowing, spread over a year. It includes interest rates and admin fees. APR is designed to give you an idea of how much you’ll be paying on top of the purchase price of the car, over the course of your loan term.
Comparing the APR of different finance deals can help you work out which ones are likely to offer you the best value for money.
What does APR mean?
APR – short for annual percentage rate – is a percentage amount of the total cost of your borrowing, spread over a year. It includes interest rates and admin fees. APR is designed to give you an idea of how much you’ll be paying on top of the purchase price of the car, over the course of your loan term.
Comparing the APR of different finance deals can help you work out which ones are likely to offer you the best value for money.
What does APR mean?
APR – short for annual percentage rate – is a percentage amount of the total cost of your borrowing, spread over a year. It includes interest rates and admin fees. APR is designed to give you an idea of how much you’ll be paying on top of the purchase price of the car, over the course of your loan term.
Comparing the APR of different finance deals can help you work out which ones are likely to offer you the best value for money.
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.
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.
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?
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).
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).
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 and documents do I need to Apply For Car Finance?
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.
What information and documents do I need to Apply For Car Finance?
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.
What information and documents do I need to Apply For Car Finance?
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 car finance decision?
With Oodle, you should be able to get a decision and your personalised quote in just 2 minutes. 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 long does it take to get a car finance decision?
With Oodle, you should be able to get a decision and your personalised quote in just 2 minutes. 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 long does it take to get a car finance decision?
With Oodle, you should be able to get a decision and your personalised quote in just 2 minutes. 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 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.
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.
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.