Car finance calculator
Representative 14.7% APR
Looking for car finance? Use our quick calculator to help you work out
your monthly payments.
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.
Compare your car finance options
Car loans
A car loan is a type of finance that allows car buyers to buy a vehicle outright. The buyer borrows a lump sum of cash up front and then makes monthly payments over a set period (which will vary according to the agreement type).
A car loan is the only finance we offer on our website.
A car loan is a type of finance that allows car buyers to buy a vehicle outright. The buyer borrows a lump sum of cash up front and then makes monthly payments over a set period (which will vary according to the agreement type).
A car loan is the only finance we offer on our website.
A car loan is a type of finance that allows car buyers to buy a vehicle outright. The buyer borrows a lump sum of cash up front and then makes monthly payments over a set period (which will vary according to the agreement type).
A car loan is the only finance we offer on our website.
Hire purchase
Hire purchase is one of the most popular types of car finance. It’s an instalment payment plan with regular monthly payments that allows you to have use of the car while you’re paying for it. You hire the car for the duration of the agreement, while you’re paying for it, with the option to purchase it at the end.
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 reduction in value of the vehicle, plus any fees and interest charged for hiring.
Personal contract hire
Personal contract hire, also known as PCH, 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.
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.
Is it hard to get car finance? Breaking down the process
Ever wondered about car finance but worry that it is hard to get? We’ve got you covered. Gain practical insights and useful tips to help you on your way to car finance success.
What checks are done for car finance?
When you apply for car finance, the finance company will run some checks on you. Here’s everything you need to know about what you can expect.
Do I own my car
if it's on finance?
One of the more common questions we often hear is: ‘Do I own my car if it’s on finance?’, so let’s clear things up.
How does car finance impact your credit score?
Keeping your financial well-being in check will undoubtedly mean questions along the way. This article explores the impact that taking out car finance has on your credit score.
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 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 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 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 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 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 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.
Read next
Read next
Is it hard to get car finance? breaking down the process
Is it hard to get car finance? breaking down the process
Ever wondered about car finance but worry that it is hard to get? We’ve got you covered. Gain practical insights and useful tips to help you on your way to car finance success.
Ever wondered about car finance but worry that it is hard to get? We’ve got you covered. Gain practical insights and useful tips to help you on your way to car finance success.
What checks are done for car finance approval?
What checks are done for car finance approval?
When you apply for car finance, the finance company will run some checks on you. Here’s everything you need to know about what you can expect.
When you apply for car finance, the finance company will run some checks on you. Here’s everything you need to know about what you can expect.
Do I own my car if it’s on finance?
Do I own my car if it’s on finance?
Buying a car is undoubtedly exciting, but the finance side of things can be a little confusing at times. One of the more common questions we often hear is: ‘Do I own my car if it’s on finance?’, so let’s clear things up.
Buying a car is undoubtedly exciting, but the finance side of things can be a little confusing at times. One of the more common questions we often hear is: ‘Do I own my car if it’s on finance?’, so let’s clear things up.