Car Finance Calculator

How much are you borrowing?

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Otherwise known as Balloon payment, MGFV, GFV or Final Payment and is only for a PCP.

Get your Quote

See what is available to you by getting a free, no-obligation quote that has no impact on your credit score. We'll find the best deals available to you.

Pick your Car

While you wait for the finance checks to be complete, take some time to browse and discover the car you would like from any reputable dealer.

Sign and Drive

Once all of the paperwork, negotiations, and vehicle checks are complete, you'll be good to hit the road with your new car.

How Does the Car Finance Calculator Work?

The car finance calculator works to help you discover your affordability when it comes to taking out a car finance deal. To start, you will need to enter how much you wish to borrow, how much deposit you would like to put down and if you wanted to have a final balloon payment and be on a PCP deal. We then ask for you to enter how long you'd like to take to pay back what you'd be borrowing and the interest rate you'd ideally like to pay back at. From here, we will calculate what you should expect to pay each month and help you identify your affordability.

How Do I use the Car Finance Calculator?

To use the car finance calculator, follow these five simple steps:

  1. Enter the amount you wish to borrow, the amount of deposit you wish to put down and the final balloon payment you'd want to pay if you know you want a PCP finance deal.
  2. Decide how many months you wish to make your repayments and the interest rate you'd prefer to pay back.
  3. We will show you your estimated payments and you can decide if they work for you. If they don't, you can go back and adjust the figures you had previously inputted into the car finance calculator.
  4. You can view our advice based on the information you have submitted which we have calculated for you. Here, you may be able to discover how you could save money now and in the future.
  5. Once you are happy with the calculation we've provided for you, go ahead and apply for finance and get the car of your dreams.

How Do I Choose the Best Car Finance Deal for me?

When choosing a car finance loan, it's important that you make your decision based on your circumstance, including your needs and budget. Take time to assess your options and don't rush into a deal without weighing up all the pros and cons.

The two most popular car finance options are Personal Contract Purchase (PCP) and Hire Purchase (HP). Both options secure the loan against the vehicle and provide you with a clear breakdown of what you can expect to repay each month.

On an HP deal, you will make your fixed monthly payments until the end of the agreement, at which point you would have repaid the finance and the car belongs to you.

On a PCP deal, like HP, you will make your fixed monthly payments until the end of the agreement but instead of owning the car outright, you will either have to pay the balloon payment to own the car outright, hand the car back to the finance company, use any positive equity as a deposit on a new car or refinance your balloon and extend your loan if you wish to own the car but can't afford the lump sum payment.

How Do I Choose the Best Car Finance Deal for me?

How Do I Know if I am Getting a Good Car Finance Deal?

Car Credible, alongside our finance partners and panel of lenders will ensure you get the best possible deal to suit your needs and budget, based on your circumstance, affordability and all the information you provide to us.

To ensure your deal is calculated as accurately as possible, please ensure you triple check your new finance requirements before entering them into our car finance calculator and subsequently when you go to apply for car finance.

How Do I Know if I am Getting a Good Car Finance Deal?

Car Finance Calculator related articles


Car Finance Calculator

Use Car Credible's calculator to discover your affordability and understand the budget you have when buying a new car in finance.

Car Finance Calculator FAQs

How Do I Get a Car Finance Loan With Bad Credit?

While some lenders will refuse to approve your car finance loan if you have bad credit, there are many out there that specialise in bad credit car finance and can help you get into the car of your dreams. You should research which lenders work with bad credit customers first before applying for finance.

What is the Best Way to Finance a Car?

The best way to finance a car will depend on your circumstances, needs and budget.

You can read our guide on the pros and cons of car finance.

What is my Car Finance Affordability?

Car finance affordability is the calculations lenders make to determine whether they should approve your car finance loan application. They will look at your monthly income, outgoings, employment and address history to decide if they believe you will be able to make your repayments.

What Do I Need to Apply for Car Finance?

Personal details.

Proof of identity (e.g. driving license or passport)

Proof of income (i.e. through a pay slip or bank statement)

Address history (usually three years)

Bank details (you'll only need these when it comes to ordering the vehicle)