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Car loan calculator

5 Years
48 monthly payments of

£ 245

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.

What is car finance?

Car finance is a type of loan which allows people to purchase cars they otherwise wouldn’t be able to afford by spreading the cost over a period of several months.

Choosing the right finance for you

There are a number of factors you must consider and questions you must answer before you begin seeking car finance. They are as follows:

  • The amount you wish to borrow
  • The amount you can afford to borrow and repay each month
  • Your credit history
  • Do you have any savings which can be used for a deposit?
  • Are you likely to change or sell your car within three years of purchasing?
  • Would you like to buy via a private seller or reputable UK dealership?

Once you’ve considered all of the above, the next step is to apply with us.

What is the application process?

  • Complete our simple online application form
  • If successful, your car finance expert will discuss the amount you can borrow
  • Choose a car from any reputable UK dealer
  • Provide us with the details of the car, and we’ll take care of the rest
  • We’ll send you paperwork to sign and return to us
  • We’ll organise payment directly with the dealership
  • Collect your vehicle, and drive away happy!

How will lenders assess my application?

Lenders will be assessing whether you are a good credit risk, i.e. that you’ll be able to make the monthly repayments on time. To make this assessment, they’ll use information from a range of sources – documentation provided by you, third parties, employee references, and perhaps more. The following checklist will cover the typical documentation that lenders will need to see:

  • Identification: This includes details such as your name, date of birth, marital status, residential status (whether you are a homeowner, renting, living with parents etc), and address for the last 3 years. Valid proofs of address include utility bills and bank statements, and they must be from the last 3 months.
  • Proof of income and employment details: Information on your employment history for the past three years, including explanations of any gaps, will need to be supplied. This information includes the name and address of your workplace, as well as your job title and salary information. Proof of income can be found in the form of bank statements and payslips. For those who are self-employed, you may need to present your accounts as proof of income.
  • Bank details: You’ll need to provide details of a bank account in your name from which you will be making monthly repayments from, including your account number, sort code and the address of your branch.
  • Driver’s licence: Since it is illegal to secure finance on someone else’s behalf, all applicants must have a full UK driver’s licence. If for any reason you are unable to provide it, for instance, you have misplaced it or the DVLA has it for administering penalties, you will need to provide another form of identification, such as a passport.
  • Vehicle information: For a new car, you will need the dealer sheet or buyer’s order. This will need to include the purchase price, vehicle identification number, year, make and model. For a used car, you will need the seller to provide this information, along with the car’s mileage, original title and disclosure of any loans on the car.

Unable to provide details for the last three months?

If you are unable to provide relevant information from the last 3 months, for example if you’ve only just moved to the UK or found employment, then our experts will be able to advise you based on your specific circumstances. You may have to provide a guarantor or provide information from overseas to be verified by potential lenders.


Representative example: Borrowing £3500 over 2 years with a representative APR of 9.9% and a deposit of £0, the amount payable would be £161 per month, with a total cost of credit of £356 and a total amount payable of £3856.

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