Car finance calculator

Get my quote
No impact on your credit score

Representative xx.x% APR

Looking for car finance? Use our quick calculator to help you work out
your monthly payments.

Calculate monthly car finance payments

Calculate monthly car finance payments

Calculate monthly car finance payments

The world of car finance can be a confusing one – but we’re here to help simplify things. Use our car finance calculator to help you decide whether car finance could be a good option for you, without affecting your credit rating. The calculator will give you a good idea of what your monthly payments could look like based on how much you’re looking to borrow.


Don’t worry, you’re not committing to anything; this tool is simply a useful guide to help you figure out a budget that suits you best before you complete a full application for car finance.

The world of car finance can be a confusing one – but we’re here to help simplify things. Use our car finance calculator to help you decide whether car finance could be a good option for you, without affecting your credit rating. The calculator will give you a good idea of what your monthly payments could look like based on how much you’re looking to borrow.


Don’t worry, you’re not committing to anything; this tool is simply a useful guide to help you figure out a budget that suits you best before you complete a full application for car finance.

The world of car finance can be a confusing one – but we’re here to help simplify things. Use our car finance calculator to help you decide whether car finance could be a good option for you, without affecting your credit rating. The calculator will give you a good idea of what your monthly payments could look like based on how much you’re looking to borrow.


Don’t worry, you’re not committing to anything; this tool is simply a useful guide to help you figure out a budget that suits you best before you complete a full application for car finance.

Compare your car finance options

Car loans

A car loan is a type of finance that allows car buyers to buy a vehicle outright. The buyer borrows a lump sum of cash up front and then makes monthly payments over a set period (which will vary according to the agreement type).

A car loan is the only finance we offer on our website.

A car loan is a type of finance that allows car buyers to buy a vehicle outright. The buyer borrows a lump sum of cash up front and then makes monthly payments over a set period (which will vary according to the agreement type).

A car loan is the only finance we offer on our website.

A car loan is a type of finance that allows car buyers to buy a vehicle outright. The buyer borrows a lump sum of cash up front and then makes monthly payments over a set period (which will vary according to the agreement type).

A car loan is the only finance we offer on our website.

Hire purchase

Hire purchase is one of the most popular types of car finance. It’s an instalment payment plan with regular monthly payments that allows you to have use of the car while you’re paying for it. You hire the car for the duration of the agreement, while you’re paying for it, with the option to purchase it at the end. 

Personal contract purchase

Personal contract purchase (PCP) is another popular type of car finance. Rather than borrowing a loan equal to the total cost of the car, as you do with HP, your PCP loan covers only the estimated reduction in value of the vehicle, plus any fees and interest charged for hiring.

Personal contract hire

Personal contract hire, also known as PCH, is essentially a form of long-term rental and is a popular way to 'lease' a car. Typically, you pay an initial rental up front – often between 1-12 months – and agree to lease the car for a set period. At the end of the agreement, you return the car and settle any further charges (e.g. excess mileage and/or unreasonable wear and tear) that may apply.

What is the best car financing option for you?

Personal car loan

Personal Contract Purchase

Hire purchase

Personal contract hire

Typical length of agreement:

Usually 1-7 years

Usually 1-5 years

Usually 1-5 years

Usually 1-4 years

Initial deposit required?

No

Usually but not always

Usually but not always

Usually but not always

Who owns the car?

You, although you will still need to repay the debt

The lender or finance company unless an optional final balloon payment is made

The lender or finance company until final repayment plus option-to-purchase fee is made

The lender or finance company, always

Mileage restrictions

No

Yes

Sometimes

Yes

What is the best car financing option for you?

Personal car loan

Personal Contract Purchase

Hire purchase

Personal contract hire

Typical length of agreement:

Usually 1-7 years

Usually 1-5 years

Usually 1-5 years

Usually 1-4 years

Initial deposit required?

No

Usually but not always

Usually but not always

Usually but not always

Who owns the car?

You, although you will still need to repay the debt

The lender or finance company unless an optional final balloon payment is made

The lender or finance company until final repayment plus option-to-purchase fee is made

The lender or finance company, always

Mileage restrictions

No

Yes

Sometimes

Yes

What is the best car financing option for you?

Personal car loan

Personal Contract Purchase

Hire purchase

Personal contract hire

Typical length of agreement:

Usually 1-7 years

Usually 1-5 years

Usually 1-5 years

Usually 1-4 years

Initial deposit required?

No

Usually but not always

Usually but not always

Usually but not always

Who owns the car?

You, although you will still need to repay the debt

The lender or finance company unless an optional final balloon payment is made

The lender or finance company until final repayment plus option-to-purchase fee is made

The lender or finance company, always

Mileage restrictions

No

Yes

Sometimes

Yes

Trustpilot logo with 4.5/5 star rating.

Car finance thats actually simple

Car finance thats actually simple

Car finance thats actually simple

Whether you’re after your dream car, thinking about switching to electric, or just need a bit more space in the boot, an Oodle Car Loan could help you cover the cost.

Fast application - money
in your account next
working day

Your car, your rules, its yours from day one.

Shop online or
in a dealership

Excellent rated,
dedicated UK team.

Car finance guides

Car finance guides

See all articles

Is it hard to get car finance? Breaking down the process

Ever wondered about car finance but worry that it is hard to get? We’ve got you covered. Gain practical insights and useful tips to help you on your way to car finance success.

What checks are done for car finance?

When you apply for car finance, the finance company will run some checks on you. Here’s everything you need to know about what you can expect.

Do I own my car
if it's on finance?

One of the more common questions we often hear is: ‘Do I own my car if it’s on finance?’, so let’s clear things up.

How does car finance impact your credit score?

Keeping your financial well-being in check will undoubtedly mean questions along the way. This article explores the impact that taking out car finance has on your credit score.

APRs between 9.6% and 27.5%, with repayments between 12 and 60 months.

Representative xx.x% APR

Representative example: borrowing £10,000 over 5 years with a representative APR of 14.9%, an interest rate of 14.71% (fixed), the monthly payment would be £232.53. The first payment would be £282.53 to include an opening fee of £50. The opening fee is included in the total cost of credit of £3,900.00 and a total amount payable of £13,900.00

Our ‘representative APR' means at least 51% of our customers are offered this rate. It’s a good way to compare lenders. Remember your rate will depend on lots of things like your credit score, so it might be higher or lower than this.

APRs between 9.6% and 27.5%, with repayments between 12 and 60 months.

Representative xx.x% APR

Representative example: borrowing £10,000 over 5 years with a representative APR of 14.9%, an interest rate of 14.71% (fixed), the monthly payment would be £232.53. The first payment would be £282.53 to include an opening fee of £50. The opening fee is included in the total cost of credit of £3,900.00 and a total amount payable of £13,900.00

Our ‘representative APR' means at least 51% of our customers are offered this rate. It’s a good way to compare lenders. Remember your rate will depend on lots of things like your credit score, so it might be higher or lower than this.

APRs between 9.6% and 27.5%, with repayments between 12 and 60 months.

Representative xx.x% APR

Representative example: borrowing £10,000 over 5 years with a representative APR of 14.9%, an interest rate of 14.71% (fixed), the monthly payment would be £232.53. The first payment would be £282.53 to include an opening fee of £50. The opening fee is included in the total cost of credit of £3,900.00 and a total amount payable of £13,900.00

Our ‘representative APR' means at least 51% of our customers are offered this rate. It’s a good way to compare lenders. Remember your rate will depend on lots of things like your credit score, so it might be higher or lower than this.

FAQs about calculating car finance

FAQs about calculating car finance

Am I eligible for car finance?

When you apply for car finance, you’ll be subject to credit and certain eligibility checks. In principle, you could be eligible for car finance if you are:

  • At least 18 years old

  • A UK resident of at least 3 years

  • Employed or have a regular, stable income

  • Looking to finance a car that’s less than 8 years old at the start of your agreement

The success of your application will depend on a few different factors, with your credit score having the most impact. The better your credit score, the more likely you are to have your application approved and receive a lower annual percentage rate (APR).

Am I eligible for car finance?

When you apply for car finance, you’ll be subject to credit and certain eligibility checks. In principle, you could be eligible for car finance if you are:

  • At least 18 years old

  • A UK resident of at least 3 years

  • Employed or have a regular, stable income

  • Looking to finance a car that’s less than 8 years old at the start of your agreement

The success of your application will depend on a few different factors, with your credit score having the most impact. The better your credit score, the more likely you are to have your application approved and receive a lower annual percentage rate (APR).

Am I eligible for car finance?

When you apply for car finance, you’ll be subject to credit and certain eligibility checks. In principle, you could be eligible for car finance if you are:

  • At least 18 years old

  • A UK resident of at least 3 years

  • Employed or have a regular, stable income

  • Looking to finance a car that’s less than 8 years old at the start of your agreement

The success of your application will depend on a few different factors, with your credit score having the most impact. The better your credit score, the more likely you are to have your application approved and receive a lower annual percentage rate (APR).

What information and documents do I need to Apply For Car Finance?

You’ll have to go through credit and eligibility checks to apply for car finance. You will need to provide us with:

  • Proof of age

  • Proof of address

  • Proof of earnings

  • Employment status

  • A valid UK driving licence

  • In certain instances, a guarantor

The success of your application is largely impacted by your credit score.

What information and documents do I need to Apply For Car Finance?

You’ll have to go through credit and eligibility checks to apply for car finance. You will need to provide us with:

  • Proof of age

  • Proof of address

  • Proof of earnings

  • Employment status

  • A valid UK driving licence

  • In certain instances, a guarantor

The success of your application is largely impacted by your credit score.

What information and documents do I need to Apply For Car Finance?

You’ll have to go through credit and eligibility checks to apply for car finance. You will need to provide us with:

  • Proof of age

  • Proof of address

  • Proof of earnings

  • Employment status

  • A valid UK driving licence

  • In certain instances, a guarantor

The success of your application is largely impacted by your credit score.

How long does it take to get a car finance decision?

With Oodle, you should be able to get a decision and your personalised quote in just 20 seconds. We’ll then send you an email with a unique verification code with a link to the e-sign website. You’ll have to:

  • Confirm your personal details for us to check

  • Check the details of your pre-contract information and finance agreement

How long does it take to get a car finance decision?

With Oodle, you should be able to get a decision and your personalised quote in just 20 seconds. We’ll then send you an email with a unique verification code with a link to the e-sign website. You’ll have to:

  • Confirm your personal details for us to check

  • Check the details of your pre-contract information and finance agreement

How long does it take to get a car finance decision?

With Oodle, you should be able to get a decision and your personalised quote in just 20 seconds. We’ll then send you an email with a unique verification code with a link to the e-sign website. You’ll have to:

  • Confirm your personal details for us to check

  • Check the details of your pre-contract information and finance agreement

How much can I borrow with car finance?

You can borrow up to £35,000 with Oodle. The exact amount you can borrow and the duration of your loan will depend on several different factors, including:

  • Your credit score – your credit score determines your annual percentage rate (APR). The better your score, the lower the APR and the total loan amount.

  • Your income and affordability of your loan amount – we consider your monthly income and regular outgoings to calculate your disposable income and your ability to keep up with your monthly repayments.

How much can I borrow with car finance?

You can borrow up to £35,000 with Oodle. The exact amount you can borrow and the duration of your loan will depend on several different factors, including:

  • Your credit score – your credit score determines your annual percentage rate (APR). The better your score, the lower the APR and the total loan amount.

  • Your income and affordability of your loan amount – we consider your monthly income and regular outgoings to calculate your disposable income and your ability to keep up with your monthly repayments.

How much can I borrow with car finance?

You can borrow up to £35,000 with Oodle. The exact amount you can borrow and the duration of your loan will depend on several different factors, including:

  • Your credit score – your credit score determines your annual percentage rate (APR). The better your score, the lower the APR and the total loan amount.

  • Your income and affordability of your loan amount – we consider your monthly income and regular outgoings to calculate your disposable income and your ability to keep up with your monthly repayments.

Read next

Read next

Illustration of approved cheque

Is it hard to get car finance? breaking down the process

Is it hard to get car finance? breaking down the process

Ever wondered about car finance but worry that it is hard to get? We’ve got you covered. Gain practical insights and useful tips to help you on your way to car finance success.


Ever wondered about car finance but worry that it is hard to get? We’ve got you covered. Gain practical insights and useful tips to help you on your way to car finance success.


Illustration of car finance checks

What checks are done for car finance approval?

What checks are done for car finance approval?

When you apply for car finance, the finance company will run some checks on you. Here’s everything you need to know about what you can expect.


When you apply for car finance, the finance company will run some checks on you. Here’s everything you need to know about what you can expect.


Cartoon of blue car with street lights behind and a green tick above.

Do I own my car if it’s on finance?

Do I own my car if it’s on finance?

Buying a car is undoubtedly exciting, but the finance side of things can be a little confusing at times. One of the more common questions we often hear is: ‘Do I own my car if it’s on finance?’, so let’s clear things up.

Buying a car is undoubtedly exciting, but the finance side of things can be a little confusing at times. One of the more common questions we often hear is: ‘Do I own my car if it’s on finance?’, so let’s clear things up.

NEWS Aug 2024: FCA announcement on discretionary commission arrangements (DCAs)

Oodle customers are not impacted