How much can I afford to pay?

Our car finance calculator is an ideal tool to work out what your monthly repayments will be.

Good credit
Bad credit
Amount to borrow:
£
To repay over:
5 Years
Car finance rate XX% APR
Cost of credit £ XXX
Total repayment £ XX,XX.XX
48 monthly payments of
£ 245 /mo

Representative example - Borrowing £5,500 over 4 years with a representative APR of 19.8%, and a deposit of £0, the amount payable would be £162 per month, with a total cost of credit of £2,282 and a total amount payable of £7,782.

We compare car finance quotes from all the leading providers

We partner with the UK’s trusted car finance lenders, so that you get the most suitable car loan quotes from across a huge choice of deals.

A better way to apply for a car loan with CarFinancePlus.com.

Need car finance? Here's how CarFinancePlus.com can help you with car loans. Compare car loans to make sure you get a better deal to help you afford your monthly repayments.

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Get your car from any dealer

You can buy any car from any reputable dealer across the UK. Check your eligibility and get a free car loan quote now.

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No impact to your credit

Applying for a car loan will not affect your credit score as we use soft credit search to get your car finance deal quote.

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No paperwork & no deposit

No paperwork is needed. Apply and complete online. We can offer car loan deals where you don’t have to put a deposit.

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Our best rate is 6.9% APR

We provide low interest car finance from UK’s top lender. No fees. No deposit required. See if you are eligible.

Customer reviews

Emile was amazing! Was a pleasure speaking to him on the phone! He got me the best deal and helped me right up to the end, even gave excellent customer service after the purchase had gone through.

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Applying for car finance

Am I eligible?

Whether you have bad credit, CCJ (County Court Judgement), or you’re still a student, we can help you get the right car finance scheme for you. We provide our clients with a range of plans, so our account managers can find your perfect plan. Our easy-to-use loan calculator lets you see how much you can borrow, and how much you need to pay back over the length of your plan.

Check your eligibility

Does applying for car finance affect my credit score?

As with any loan, we will need to complete a credit check of your financial history, which ultimately has an effect on your credit score. Each time you apply for a loan, even if you choose not to pursue it, is recorded on your credit history. If you’ve ever been refused a loan, this is also noted. This is important because the more credit refusals you have against your name, the more negative your overall credit score will be.

When you apply with us we do a soft credit check first. This won't affect your credit score rating.

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What happens when I apply?

Once you’ve completed our online application form, one of our car finance experts will get in touch to discuss your personal loan plan. Then you just need to tell us what model car you’ve chosen from any of our trusted UK dealers, and we’ll take care of the rest. After we’ve finalised the paperwork, and you’ve signed it, you can go collect your new vehicle and drive home happy.

Check your eligibility

What if I have bad credit?

Having bad credit doesn’t necessarily mean you cannot borrow money or that you’ll be refused a loan. At CarFinancePlus.com, our expert team will work with you to find the right plan for your needs, helping you get your dream car at a price you can afford. Find out more about our various plans and choose the one that works best for your lifestyle.

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Refinance a PCP Balloon Payment

Are you coming to the end of your PCP car finance agreement and have a balloon to repay? A balloon payment is the final repayment at the end of a PCP (Personal Contract Purchase) car finance contract which you must do in order to own the vehicle. Here at CarFinancePlus.com we can help you to get finance arranged for your PCP balloon payment. You can keep your car with monthly repayments that will suit your budget and affordability.

Refinance balloon payment

Why choose car finance?

Buying a car is likely to be one of the biggest purchases you’ll make in your life, as well as one of the most expensive. Consequently, you may need some help in managing your finances, so you don’t potentially lose out on a huge sum of money.

Once you’ve found your dream car, you can start thinking about how you’ll be paying for it.

This is where car financing comes in.

What is car finance and how does it work?

Car finance simply makes the entire process of buying a car much easier, as you won’t have to part with a lump sum of cash before you get behind the wheel. Purchasing a car on finance acts essentially means getting a loan for the car, which you can then pay back in affordable, fixed instalments each month. This allows you to control your finances by making it easier to budget.

Hire purchase (HP) and personal contract purchase (PCP) are the most common forms of car finance agreements, along with guarantor and personal loans. However, there are other options available, such as self-employed finance and no-deposit finance, all of which can go some way towards making it easier for you to find the one that suits your unique needs.

It’s important to research the different options available to you when picking a car finance scheme, and make sure that you choose the best, most affordable option for your needs.

Is it better to buy or finance a car?

In previous years, it was better to buy a car outright, but that’s no longer the case. The increasing cost of living means that fewer people are able to afford to pay for a car in full and still remain financially stable. Opting into a car finance program is a more affordable option, as it allows you to spread the overall cost over several monthly instalments.

Do you pay more when you finance a car?

How much you will need to repay when financing a car depends on various factors, such as how much money you borrowed and what type of contract it was loaned under. For example, under an HP agreement, the amount borrowed is based on the car’s retail value at the start of the contract. If the cost depreciates significantly, you’ll still need to continue paying back on the full amount agreed upon when you began the plan.

A PCP agreement works in a similar way in that your ownership of the car is delayed until the end of the contract. However, the overall loan is calculated based on its guaranteed future value, which means you only borrow the difference between what the car is worth at the start of your agreement and what it will be at the end. By doing this, your repayments will typically be cheaper than other options. This agreement also gives you the option to upgrade your car with the dealer and take out a new contract.

Does my credit score affect car finance?

Credit scores are important when getting any form of a loan, including your potential to be approved for car finance. Having a higher credit score increases your chances of success when applying for any loan, so you should bear this in mind when applying for finance. There are ways you can improve your credit score, including ensuring your credit report is up to date, and paying off any outstanding debts.

Even if you don’t have the best credit score, you may still be eligible for a loan. Our team are experts at securing car finance with bad credit, and can help you on your journey towards getting your dream car. This includes CCJs, late payments, mortgage arrears, and other situations that may initially deter lenders.

Can you pay off a car loan early?

This largely depends on your own finances and whether you can afford to make larger repayments. However, you should check the details in your own contract, as some companies will charge you early repayment fees if you pay off the full loan before your contract ends. This is generally calculated based on two months’ worth of interest that the lender would have otherwise lost out on. However, this can vary from company to company, so it’s important to check.

What happens if I’ve been refused car finance?

Regardless of why you’ve been refused for car finance in the past, there are still options available to help you afford a vehicle. In the event that lenders are cautious of your credit history, or you have found yourself unable to afford the deposit required for your initial loan enquiry, there are still other finance options available. A no deposit loan, for example, may require higher monthly repayments, but it can still help you secure the vehicle you want.

Car finance options

The most common car finance options agreement are hire purchase (HP), personal contract purchase (PCP), lease purchase or personal loan.

Hire purchase (HP)

Hire purchase (HP) is a way to pay for a car loan in equal monthly instalments over a set period of time, between 18 and 60 months. There are no deposit deals available although paying a small deposit will lower your monthly payments.

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Personal contract purchase (PCP)

With Personal Contract Purchase you will pay initial deposit, usually 10%. The monthly repayments are typically lowers because you are paying off the value of the depreciation of the vehicle, not the full value of the car.

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Personal loans

Personal loan or unsecured loan car finance is where you borrow a sum of money from a lender or a bank, and agree to pay it back over in fixed monthly repayments. This means you own the car outright as its not secured to the credit agreement.

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Car finance with a guarantor

This is a car loan where a friend or family member agrees to guarantee the repayment of the loan in the case of you failing to meet the payments. The initial loan is paid by the lender to the guarantor and they release it to you.

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Car finance FAQs

Car finance is a type of loan that enables you to buy a used or new vehicle by spreading the cost over a period of time, usually between 2 to 5 years. There are three types of car finance available - Hire Purchase (HP), Personal Contract Purchase (PCP) and Personal Loan.

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We’re a specialist car finance broker and have helped thousands of motorists across the UK to purchase a vehicle. With a range of specialist financing options including those suited for individuals with poor credit ratings or CCJs, we’re able to help you find the perfect car.

No fees and no deposit;

Get a car from any dealer;

Bad credit is accepted;

Low rates on selected car finance deals;

Instant lending decision;

Quotes with no impact on credit score;

Free affordability and eligibility check;

We approve most applicants;

CCJs, defaults are accepted;

Buy from a private seller;

Taxi driver finance;

We compare car finance deals from UK’s top providers and lenders, which means that our customers have access to a wide range of options. We can help customers with all types of credit histories, either good or bad. We’re specialists in bad credit car loans and typically 2 out of 3 applications get accepted. You may have bad credit or have been refused financing elsewhere. Our expert brokers will be able to help you find a lender that suits your requirements. Please apply now to get your free, no obligation quote.

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Brokers and lenders are legally unable to provide a guaranteed car loan unless they run a full credit check and review your financial situation. We’re responsible car finance brokers who will only guarantee car finance once we have checked your credit history and matched you to a suitable lender from our panel of car finance specialists.

You can buy any vehicle from any reputable dealer. Simply apply online. The application only takes a minute to complete. One of our car loan experts will call you and discuss your personalised quote.
 If you are happy with the quote, simply let us know the dealer and car details, and our team will pay the deal same day. We’re one of the top car finance online brokers in the UK helping thousands of customers to buy a car of their dream.

We can get you a no deposit car finance deal. No deposit car loan packages mean that you will have higher monthly repayments. We also approve bad credit no deposit deals for customers who might have struggled to get finance accepted elsewhere.

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We consider applicants with poor or bad credit history and can help even if you had CCJs, have been bankrupt or been refused car finance. The application will only take several minutes and decision in principle will be made in a matter of hours. Depending on your personal circumstances, we may request additional paperwork from you, such as proof of income, your passport copy and proof of address.

About us

We are the motor finance people

Since 2015 we’ve specialised in motor finance. We’re a family-run company committed to putting our customers first.

Learn more about our company