Car loans & finance

If you've found the perfect car but you can't afford to buy it in one lump sum then you should consider car finance. Buying a car on finance allows you to pay in small digestible payments. Repayment periods can be set to suit your budget and interest rates can be very competitive which means you can get a great deal.

Use our calculator below to check the costs and the amount you could borrow. If you're happy with the figures then simply apply online for a decision within minutes through our credit 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

  • Best Available Rate
  • Total Repayment
  • Total Cost of Credit

Monthly Repayments

Representative example: borrowing over 48 Months with a representative APR and fixed annual interest rate of and a deposit of £0.00, the amount payable would be per month, with a total cost of credit of and a total amount payable of

How it works in 3 simple steps

1. Calculate

Use our calculator to see how much you can borrow and how much youíll pay each month.

2. Apply

Simply provide a few details to us online and you'll get a decision within minutes.

3. Buy

Decide on the car you want to buy, sign the documents and then drive it home. Search for cars by monthly payment

Start now

Meet our broker

Our finance broker is CarFinance 247 and their main aim is to make it easier for car buyers to find a finance option that suits their needs. They have the expertise to find the right finance options for you from a panel of lenders so you can drive home in your perfect car. CarFinance 247 is now considered the UK's number one car finance broker*.

Applying for car finance

To apply for finance start by using the calculator above. Simply enter the amount you wish to borrow, the length of time within which you want to pay back the loan and finally your credit score. We will then show you how much your monthly payments could be.

Once youíre happy with everything youíll be able to find a suitable loan with CarFinance 247. All you then have to do is complete their online application form and they will then let you know the details of the loan you can get and the interest rate.

Not only is it free to get loan quotes but thereís absolutely no obligation to take out a loan. You are always in complete control.

Here's what you need to complete their application form:

  • 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 profile is a major factor lenders will use to decide whether to lend to you. A report that contains an error could negatively affect your application for car finance or hinder your ability to get the best interest rates. Check your credit score now.

A few benefits

  All the hard work done for you
  Get your perfect car
  No deposit options
  No admin fees or charges
  Your own personal advisor
  Loans for several vehicle types
  May accept bad credit
  Absolutely no obligation
  Applying 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. Itís a bit like going down to your local Enterprise, Avis or Hertz and saying youíd like to rent a car but for a few years. Signing up to a PCH deal means youíll never own the car but youíll 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 weíve 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 wonít be paying back the full cost of the car over that time which means that at the end of the deal you still donít 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. Itís 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 donít need to put down a deposit towards the payment of a car.

Itís true that having bad credit will limit your options in terms of what deals are available to you. However, it doesnít mean that CarFinance 247 canít still find a loan thatís right for you.

Trusted lenders

CarFinance 247 only compare deals from trusted lenders

* The UK's number one online car finance broker by unique users to the website. Based on Hitwise data - 108,204 to CarFinance 247 vs. 63,343 for nearest competitor. January 2019.