Car finance calculator

How to read these figures

The calculator uses our representative APR of 19.9% to estimate a monthly payment on a hire-purchase agreement. In practice the rate a lender offers depends on your circumstances; some customers will be offered more, some less. That is why every figure on this page is described as illustrative.

The representative example in the footer is worked out with exactly the same calculation from the same APR, so the two will always agree.

Three levers you control

• Deposit. Even a few hundred pounds reduces both the monthly payment and the total interest. A part-exchange counts.
• Term. Longer terms lower the monthly payment but increase the total you repay. We will help you find the sensible middle.
• Car price. The biggest lever of all. A lender is far more likely to approve an amount that sits comfortably inside your budget.

A word on affordability

Work out the figure you could still pay in a bad month, then aim below it. A lender assessing you will do the same arithmetic, and an agreement that survives a quiet January is worth more than a slightly nicer car that does not.

Representative example: cash price £8,995, deposit £500; amount of credit £8,495; term 48 months; 48 monthly repayments of £250.82; total amount payable £12,539.36; Representative 19.9% APR (fixed). Finance subject to status. Your vehicle may be repossessed if you do not keep up repayments on your finance agreement. Missed payments will affect your credit file and may make future credit harder to obtain.