Car Finance Calculator — Estimate Your Monthly Payments
Wondering how much car finance will actually cost you each month? Use our free calculator below to get an estimate. Simply enter the amount you want to borrow, choose your term length, and select your credit rating to see what your monthly payments, total cost, and cost of credit could look like.
This calculator is a mathematical tool only — it does not access your credit file or run any searches. It is a starting point to help you understand what car finance might cost before you decide whether to apply.
ZAP! Car Finance Calculator
WHOOSH! Monthly Payment
per month for 48 months
These figures are illustrative only. They are not a quote, not an offer of finance, and not a guarantee of the rate or terms you will be offered.
Important Disclaimers
FCA Consumer Duty — Important Information
Please read the following before relying on any results from this calculator:
These figures are illustrative only
The results are estimates based on the inputs you provide. They are not a quote, not an offer of finance, and not a guarantee of the rate or terms you will be offered.
Your actual APR depends on your credit assessment
The rate you are offered is determined by the lender based on your credit score, income, employment status, the car you choose, and other factors. It may be higher or lower than the rate you enter in the calculator.
Representative APR is 10.9%
At least 51% of approved applicants receive this rate or better. The remaining applicants may be offered a higher rate depending on their credit profile. If your credit is less than perfect, select a lower credit rating band for a more realistic estimate.
The calculator does not include fees
Some lenders charge arrangement fees or option-to-purchase fees that are not reflected in the calculator output. The total cost of your actual agreement may differ slightly from the calculator result.
This calculator does not constitute financial advice
If you are unsure whether car finance is right for your situation, seek independent financial guidance before committing.
Subject to status
All finance is subject to status and is available to UK residents aged 21 and over.
How to Use This Calculator
Getting the most useful results from the calculator is straightforward. Here is how to set each input:
Enter Amount to Borrow
This is the price of the car minus any deposit you plan to put down. Try a range of values to set a realistic budget before you start browsing.
Choose Your Term
Pick from 24, 36, 48, 60, 72 or 84 months. Shorter terms cost less overall; longer terms reduce your monthly payment but increase the total cost.
Select Your Credit Rating
Choose the band that best matches your credit. This sets the estimated APR used in the calculation — from around 6.9% for excellent credit up to 24.9% for poor credit. Our representative APR is 10.9%.
Read Your Results
See your estimated monthly payment, total amount to repay, and total cost of credit. Adjust any input to compare different options.
For more on deposit options see our no-deposit car finance page, or read about bad credit car finance if your credit profile is less than perfect.
Understanding the Results
The calculator gives you three key figures. Here is what each one means:
Monthly Payment
The amount you would pay every month for the duration of the agreement. On a Hire Purchase agreement, this is fixed for the entire term. On PCP, your monthly payment would typically be lower than the HP figure shown here, but you would have a large balloon payment at the end. This calculator shows HP-style repayments.
Total Amount Payable
The monthly payment multiplied by the number of months. It represents the full cost of the car including all interest charges. This is the number you should focus on when comparing deals — not just the monthly payment. A deal that looks cheaper per month but runs for 60 months instead of 36 could cost you thousands more in total.
Total Cost of Credit
The difference between what you borrow and what you pay back. It is essentially the price of borrowing — the amount you pay in interest over the life of the agreement. The lower this number, the better the deal.
Example Scenarios
To show how the calculator works in practice, here are three common scenarios:
Scenario 1: A budget first car
- Car price
- £6,000
- Deposit
- £500
- Amount borrowed
- £5,500
- APR
- 10.9%
- Term
- 36 months
- Estimated monthly payment
- ~£179
- Estimated total payable
- ~£6,444
- Estimated cost of credit
- ~£944
Scenario 2: A family SUV
- Car price
- £14,000
- Deposit
- £2,000
- Amount borrowed
- £12,000
- APR
- 10.9%
- Term
- 48 months
- Estimated monthly payment
- ~£307
- Estimated total payable
- ~£14,736
- Estimated cost of credit
- ~£2,736
Scenario 3: Bad credit, no deposit
- Car price
- £8,000
- Deposit
- £0
- Amount borrowed
- £8,000
- APR
- 19.9%
- Term
- 48 months
- Estimated monthly payment
- ~£244
- Estimated total payable
- ~£11,712
- Estimated cost of credit
- ~£3,712
These examples show how APR, deposit and term length all affect the total cost. Read our guide on improving your credit score to learn how to access better rates. All figures are illustrative only.
What Affects Your Actual Rate?
The calculator lets you enter any APR, but the rate you are actually offered by a lender depends on your individual circumstances:
Credit score and history
The single biggest factor. Better credit generally means a lower APR. Missed payments, defaults and CCJs typically result in a higher rate.
Income and employment
Lenders need to see stable, provable income. Employed applicants with payslips are straightforward; self-employed applicants may need bank statements or tax documents.
Size of your deposit
A larger deposit reduces the loan-to-value ratio, which can help you access better rates from some lenders.
Age and value of the car
Older cars or lower-value vehicles may attract higher rates because they represent more risk to the lender.
Agreement length
Some lenders offer slightly different rates for different term lengths, depending on their risk model.
The only way to find out your actual rate is to apply. Our initial eligibility check uses a soft search — it gives you a real indication of what is available without a full credit check being carried out. A full credit check only takes place if you decide to proceed with a specific finance offer. See more on self-employed car finance.
Calculator vs Reality — What to Expect
It is worth understanding the limitations of any car finance calculator, including this one:
Assumes fixed-rate HP repayment
If you choose PCP, your monthly payments will be lower than the calculator shows, but you will have a large balloon payment at the end that is not reflected here.
Lender fees not included
Some lenders charge a small arrangement fee or option-to-purchase fee (typically £100-£200 on HP). These are added to the total cost but not captured by the calculator.
Your actual APR may differ
The calculator uses whatever rate you input. The rate you are actually offered could be higher or lower depending on your credit assessment.
Add-ons not accounted for
GAP insurance, extended warranties, paint protection and other dealer add-ons are not included. If you add these, your actual monthly payment will be higher.
The calculator is a planning tool — use it to set expectations and establish a budget before you apply. The real figures come from the lender after your application is assessed. For more, read Hire Purchase explained or PCP car finance.