Explore Your Estimated Affordability With Our Car Finance Calculator
We’ve created a car finance calculator, so you can easily assess your estimated affordability. We’ve created
Explore Your Estimated Affordability With Our Car Finance Calculator
We’ve created a car finance calculator, so you can easily assess your estimated affordability.
What is Car Finance?
Car financing or a car loan. In a nutshell, it’s a loan that you take out for the sole purpose of purchasing a car, but in a way that is designed to make the process more affordable.
Although numerous options are available, the most common of these is to put down a deposit and then pay monthly instalments, generally over 3-4 years. Financing a car is a popular route to car ownership and use; a car is a generally big financial commitment if you choose to buy it outright, so financing is a good way to make the process of getting a car more affordable.
If you desire the freedom to drive a variety of cars and the ability to easily upgrade your vehicle, car finance could be a practical solution.
How Does Car Finance Work?
Get a quote
Use our car finance calculator to assess your estimated affordability.
Complete our form
Complete our online form, and we could connect you with one of our finance partners.
We source a provider
If you’re eligible, we will find you a reputable lender, who will provide you with the best deal based on your personal circumstances.
Choose your car
If you receive an offer, you’re good to go. Head to a reputable dealership of your choice and pick up your new car.
Benefits of Car Finance
Car finance offers several advantages, including the ability to spread the cost of a vehicle over time, potentially allowing you to afford a car that would otherwise be out of your budget. Some finance options even let you return the car at the end of the agreement, so there’s no requirement to commit to your car if you don’t want to.
In a nutshell, car finance could make it a convenient and affordable way to own a vehicle, so you can enjoy the benefits that come with car ownership. If you want to explore your affordability today, then read on. If, however, you want to find out more about car finance and how it works, then read our car finance ultimate guide.
What Type of Car Finance is Best?
While the range of options available can be overwhelming, the best car finance for you could be explored if you qualify.
The key thing to remember is that you need to be led by your own personal circumstances. Ultimately, the best car finance deal for you depends on factors like ownership goals, credit history, how much you want to borrow, intended use, and budget for a down payment. If you use these factors to guide you in your decision, and you do your research properly, you’ll be in the best position to make the right decision for you.
Coincidently, we’ve created a form that runs you through these questions and gives you the option to tailor your options with our partners to meet your circumstances. Completing the form won’t affect your credit score and there’s no obligation to follow through with anything you don’t want to. Sounds good? Search for car finance today by clicking the button on the left of this page.Â
Which is the Best Car Finance Provider?
The best car finance provider for you will depend on your own circumstances. One provider might offer a more favourable contract length, a better car, or a cheaper deposit. All of these things will depend on when and where you look and on your financial circumstances.
Obviously, there are a lot of different providers out there, from your local car dealership to the big national names you’ve almost certainly heard of. When it comes to your money, you want to know you’re getting the best deal you can.
We work with a range of car finance providers, and all of them could be exactly what you’re looking for when it comes to getting your next car. Working with our partners, you can work out not just what kind of deal you can afford, but also which type of car finance is most suited to you. In addition to all this, and to assist and assess your estimated affordability, we’ve created the Consumer Experts Car Finance Calculator (which you can see below).
Using the car finance calculator will allow you to get an idea of what your repayments might be once your deposit, size of loan, and contact length are all worked out. It’s one of the many ways that Consumer Experts could make your life that little bit easier and less complicated.
Car Finance Calculator
Our car finance calculator is designed to make it as easy as possible for you to assess your options when it comes to car finance. You can play around with the length of the term, the size of your down payment, and the size of your loan to see what your monthly repayments are likely to look like.
Please keep in mind that the calculator is for illustrative purposes only and doesn’t constitute a deal that’s currently available via Consumer Experts. This is the case with all car finance calculators available.Â
In addition to the above, we encourage you to take note of the representative example below. It’s important to consider all the facts and possible eventualities that can occur as a result of taking out a car finance loan.
Your results
Total Repayable: £0.00
Total Cost of Credit: £0.00
Monthly Repayment: £0.00
This calculator is intended for illustration purposes only and exact payment terms should be agreed with a lender before taking out a loan.
Representative Example
Borrowing £6,000 with a £1,000 deposit over 48 months with a representative APR of 21.6%, an annual interest rate of 22.1% (Fixed), the monthly payment would be £152.51, with a total cost of credit of £2,320.44 and a total amount payable of £7,320.44.
Rates from 9.9%: The exact rate you will be offered will be based on your circumstances, subject to status.
Car finance with a monthly repayment of £120.00 could be achieved with one of our car finance credit brokers. £120.00 a month is based on a loan value of £4800 over 5 years with a fair credit score. All finance applications are subject to your individual financial circumstances and the financial provider’s criteria.
Please note: Consumer Experts acts as a credit broker, not a lender.
Search for Car Finance Today
If you’ve played around with the car finance calculator and think you’ve found a combination that works for you, the next step is simple. Answer the question below to access our form, answer the questions, and, if you’re eligible, you’ll get a car finance quote from one of our partners. Best of all, the offer you get will be tailored specifically to you and your needs.
FAQs
Your Questions Answered
Do I need to know what car I want before I apply for finance?
No, you don’t need to know which specific car you want before you explore your options with Consumer Experts. Exploring your options through us will give you an idea of how much you could borrow and how much you could end up paying per month for your car.Â
Actually choosing your car comes later down the road.
How much does car finance cost?
The monthly cost will depend on how much you put down, how much you’re borrowing, how long for, and your credit status.
If, for example, you put a large deposit down and stretch the repayments over a long period, you pay less each month. The less you borrow and the longer the repayment term, and the better your credit history, the smaller the monthly cost will be.
