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Car loans & finance

If you’ve found your perfect car but can’t yet buy it in one lump sum, you could consider car finance. Buying a car on finance can help you spread the cost into manageable monthly repayments. There are car finance options available for people with a wide range of circumstances and our chosen broker CarFinance 247 can help find the right deal for you.

Use the calculator below to get an estimate of how much your monthly payments might be. When you’re ready to find out more, you can get a no-obligation quote – with no impact on your credit score – through our car finance broker, CarFinance 247.

Car finance calculator

People with excellent credit have usually been at the same address for a long period of time and are registered on the electoral roll. You will have a perfect & long standing credit history showing loan, credit card and mortgage repayments & have no CCJs, defaults or missed payments. You will rarely apply for credit.

People with good credit have usually been at the same address for a long time and are registered on the electoral roll. You are most likely a homeowner or a long term tenant with a stable employment history. You'll likely have a long standing credit history with a mortgage, loan and credit cards with very few missed payments.

You may have had recent changes in address & an irregular electoral roll record. You may have recently changed job and you may have high levels of debt compared to your income. Credit applications made frequently. You may have occasional missed payments or go over your credit limit(s).

Unstable / erratic address history (not on electoral roll). Recent periods of self-employment or unemployment. Over committed on loans/cards. Current late payments on file, Defaults or CCJ's. In an IVA, DM Plan or Bankruptcy.

Your repayments

  • Rate
  • Total Repayment
  • Total Cost of Credit

Monthly payments of

Rates from 6.9% APR: the exact rate you will be offered will be based on your circumstances

Representative example: Borrowing £6,500 over 5 years with a representative APR of 19.9%, an annual interest rate of 19.9% (Fixed) and a deposit of £0.00, the amount payable would be £166.07 per month, with a total cost of credit of £3,464.37 and a total amount payable of £9,964.37.

Rates may differ as they are dependent on individual circumstances. Subject to status.

How it works in 3 simple steps

1. Calculate

Use our calculator to get an estimate of how much your monthly payments might be

2. Apply

Simply provide a few details to us online and we’ll be in touch to let you know if we could help

3. Buy

Decide on the car you want to buy, sign the documents and drive away! Search for cars by monthly payment

Start now

Meet our broker

Our car finance broker is CarFinance 247. They aim to help people improve their everyday lives by getting you the exhilaration of the car you really want. Thanks to their panel of lenders, they work to find the right deal for people with a variety of different circumstances. Plus, your dedicated account manager is on hand to help.

Applying for car finance

You can start your car finance journey by using the calculator above. Simply enter the amount you wish to borrow, the length of time you’d like to pay it back, and your credit rating band. The calculator will then provide you an estimate of how much your monthly payments might be.

Once you’re ready to apply, all you need to do is complete an online application. If you’re approved in principle, CarFinance 247 will give you a call to talk through your options.

Not only is it free to get a quote but there’s also no obligation to take out a loan and it won’t make impact your credit score.

Here’s what you’ll need to complete an application:

  • The total amount you want to borrow and the length of time
  • Your personal details including your name, address and date of birth
  • Your employment details

Check your credit score

Your credit report is one of the factors that lenders use to decide whether to lend to you. A report that contains an error could affect your car finance application and may affect the interest rate you are offered. Check your credit score now. Check your credit score now.

A few benefits

  A dedicated account manager on hand to help
  Get the right car for you
  No deposit options
  No broker fees or charges
  Loans for several vehicle types
  May accept bad credit
  Absolutely no obligation
  Getting a quote has no impact on your credit score

Frequently asked questions

It's only natural to have a few questions. This is why we've answered the more common ones below.

Unsecured Personal loans
A personal loan can be described as a loan that a lender makes that is not secured against any asset such as your home or car. To obtain a personal loan you usually need to have a good credit history. You can sell your car at any time you wish but you must still keep up your monthly repayments.

HP (Hire Purchase) loans
This is probably the most common way of buying a car on finance. It's a flexible finance option that gives you the use of the vehicle for a fixed period of time, after which you can choose to purchase the car outright or hand it back.

PCH (Personal Contract Hire) loans
This scheme is for people who want completely hassle free motoring. It’s a bit like going down to your local Enterprise, Avis or Hertz and saying you’d like to rent a car but for a few years. Signing up to a PCH deal means you’ll never own the car but you’ll never have to worry about depreciation or repair costs either.

PCP (Personal Contract Plan) loans
Personal Contract Plan or PCP is a sort of half-way house between the first two schemes we’ve mentioned. Like HP you put down a healthy deposit, typically 10%. Then like HP you spread your monthly payments over a flexible period usually between 18 and 48 months. However, unlike HP you won’t be paying back the full cost of the car over that time which means that at the end of the deal you still don’t own the car outright.

Guarantor loans
Guarantor loans are a very good option for those that have bad or poor credit. Should you not be able to secure finance on your own then you may able to find a friend or relative (a guarantor) that can do it for you. However, it's important to be clear that even though you are responsible for your payments, if you are unable to make your repayments, then your guarantor is then responsible for making those payments on your behalf.

No. There are absolutely no fees or charges associated with this service.

Yes, you can use the loans to buy both new and used cars.

The short answer is yes. A lender will always want to know what your credit record looks like because that is an indication as to whether they will get their money back. It’s possible that your credit score could be harmed if you apply for more than one loan. However, your credit score is not affected if you find finance through CarFinance 247. You can check your credit score now by clicking here

APR stands for Annual Percentage rate and is the common way used to measure the interest rate you will need to pay on the total amount of your loan. Therefore, as a general rule, the lower the APR then the less interest you will need to pay at the end of your loan.

The great think about taking out a loan with CarFinance 247 is that you don’t need to put down a deposit towards the payment of a car.

It’s true that having bad credit will limit your options in terms of what deals are available to you. However, it doesn’t mean that CarFinance 247 can’t still find a loan that’s right for you.