Car finance calculator

Get my quote
No impact on your credit score

Get my quote
No impact on your credit score

Get my quote
No impact on your credit score

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 for each credit band to give you an idea of potential costs before applying. You can also get a personalised quote, valid for XX days, with no impact on your credit score.

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 and total repayable amount. It’s a quick, no-obligation way to check if car finance could suit your budget.

A car icon
A car icon
A car icon

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.

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Hire purchase

Hire purchase (HP) is where you make a regular monthly payment for a car with a fixed interest rate – meaning you know exactly how much you are paying every month. The deposit can be flexible or even not required at all.

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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.

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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.

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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

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Trustpilot logo with 4.5/5 star rating.
Trustpilot logo with 4.5/5 star rating.

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.

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.

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.

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 – 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?

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. 

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. 

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?

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

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

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

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.