How it works
Getting started is super easy and you'll find the best service provider for your vehicle in no time.
Car budget calculator
Getting started is super easy and you'll find the best service provider for your vehicle in no time.
Car budget calculator
Thinking about buying a car with a personal loan? To make sure you can afford it, it’s good to get an idea of how much your monthly repayments are likely to be and how much the total amount of interest will be by the time you’ve paid it off
How much can you afford each month?
£100
£50
£1000
Finance Term
The longer the loan term, the less you pay each month – but you will end up paying more interest.
Interest APR
6.9 %
The APR you will get is determined by each lender’s criteria, and your own financial circumstances.
This calculator has been designed to give you an idea of how much a loan would cost each month and the amount of interest that you would pay overall for the different loan terms. This is just an example and the actual interest rate you would get depends on your own personal circumstances and lender checks, the amount borrowed, and the terms of the loan.
Amount you could borrow
£0.00
Total amount you'll pay
0
Loan Amount
Interest Payments
From the information provided, you could borrow £9000 and pay back 60 monthly instalments of £189.32. If this loan was subject to 10% APR with no extra fees, then the total amount repayable would be £11,359.21. The figures in this calculator are for illustrative purposes only.
Frequently Asked Questions
How much you can borrow will depend on your personal circumstances, including your income, your outgoings and what’s affordable for you. Lenders will also take into account other debts you have. Our calculator can give you an idea of how much you can borrow, based on how much you think you’ll be able to repay every month and your credit rating.
The cost of your repayments will depend on how much you borrow, how long for and the rate of interest you’ll be charged. It may also depend on whether you can part-exchange your current vehicle towards the new one.
Use the ‘What are my repayments?’ tab on our car finance calculator and you’ll easily be able to see what you could expect to pay. You are likely to have to pay a higher rate of interest – meaning higher monthly payments – if you’ve got a bad credit score.
You can also use the calculator to see how your monthly payments will increase or decrease if you pay over a longer or shorter period of time, or if you have to pay a higher or lower interest rate.
Yes, but you might have fewer options to choose from, so it’s a good idea to get your finances in shape before you apply for a car loan quote of any kind. Check your credit record to make sure there are no mistakes, and make sure you pay your household bills and credit card payments on time.
You may need accounts and other financial records such as bank statements and tax returns to prove to a lender that you’re capable of paying back a loan.
Yes, but you’ll probably have to pay a much higher rate of interest as you’ll be seen as a bigger risk. Your loan will cost you more, so make sure that you can afford to repay it. If you don’t, you’ll just make your credit score worse and it will be even harder to borrow money the next time you need to.
If you continually miss payments, you might be issued with a default notice, which could result in your car being recovered and the use of a debt collection agency or county court judgement (CCJ).
One of the advantages of a car loan, as opposed to some of the other types of car finance, such as HP or PCP, is that there’s no need to put down a big deposit. Some dealers may ask you to make a small payment to reserve a vehicle while you sort out the loan, though.
The content written in this article is for information purposes only and should not be taken as financial advice. If you require support on the products discussed here, please speak to your bank/lender or seek the advice of an independent professional financial advisor.
