When buying a new or second hand vehicle, using car finance can be one of the easiest payment options for many drivers. Rather than paying for a vehicle outright, the best car finance deals allow you to make monthly payments at the best rate for you. The longer the repayment period when you buy a car on finance, the lower the monthly repayments.
Our car finance calculator makes it simple to work out how much getting a car on finance would cost you. Use the tool below to see what the costs will be if you intend on taking out used car finance on your next vehicle.
Simply use the sliders below to enter how much car finance you wish to borrow, whether it is to cover the entirety of the car’s value or just part of it. Then choose how long or short you wish the repayment period to be, between two and five years with the option to select a repayment time to the exact month. If you know your credit score then this can be added in as well, anywhere from bad to excellent.
Based on these three factors, the monthly motor finance repayments you have to make will be calculated. The less you borrow, the longer repayment times and better credit score will result in the best car finance deals. While higher amounts, a short repayment period and poor credit score will lead to more expensive monthly payments.
Enter your details into the calculator and discover how much second hand car finance could cost you per month. Every quote is personalised, non-obligational and can be approved on the same day.
Borrowing £10,000 over 48 months with a representative APR of 8.9%, the amount payable would be £247 a month, with a total cost of credit of £1,840 and a total amount payable of £11,840
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Getting a car loan with used car finance has many benefits, making it easy to budget from month to month and helping improve your credit score. There are a few things you should consider before applying for car finance though:
Once you’re happy that you’ll be able to meet these considerations and buy a car on finance, enter your details into our calculator and apply for used car finance today.