Need money to buy a car? Check the cost using our simple car finance calculator, then apply online for a quick decision through our credit broker, CarFinance 247. Find a car through CarFinance 247 or choose from a dealership yourself.
12 monthly payments of
Lowest annual rate
Total cost of credit
Representative example: Borrowing £6,500 over 5 years with a representative APR of 21.9%, an annual interest rate of 21.9% (Fixed) and a deposit of £0.00, the amount payable would be £173.3 per month, with a total cost of credit of £3,897.82 and a total amount payable of £10,397.82. Rates may differ as they are dependent on individual circumstances. Subject to status.
See how much you could borrow and how much your repayments could be.
Fill in your details online and get a decision in minutes.
Find the car you want, sign the documents and pick up your keys.
CarFinance 247 is the UK's number one car finance broker*. They can find finance options from a panel of lenders for cars, vans, motorbikes, caravans and motorhomes.
CarFinance 247 can help you buy a car with a hire purchase agreement, personal loan or guarantor loan. Get a no obligation quote and discuss your options to find the right deal.
Last updated: 2 February, 2021
Do you want a car, but don't have the cash to pay up front? Use our simple car finance calculator and then get a quick decision from our credit broker, CarFinance 247. You can find your new wheels through CarFinance 247 or choose one from a dealership.
No obligation quotes
All credit scores considered
0% deposit loans available.
Borrowing £6,500 over 5 years with a representative APR of 20.7%, an annual interest rate of 20.7% (Fixed) and a deposit of £0.00, the amount payable would be £168.48 per month, with a total cost of credit of £3,608.67 and a total amount payable of £10,108.67. Rates may differ as they are dependent on individual circumstances. Subject to status.
CarFinance 247 is the UK's number one car finance broker*. They'll help you find finance from a panel of lenders
You could benefit from:
your own personal advisor
finance even with bad credit
loans for a range of vehicle types
choose a car from an approved dealer.
Calculate. Check how much you could borrow and what your repayments would be.
Apply. Fill out the online form and get a decision in minutes.
Buy. Choose a car, sign the documents, and away you go!
Through CarFinance 247, you could get a car through a:
hire purchase agreement
Get your no obligation quote and find the right deal.
Not many people have enough money to buy a car outright with cash.
That's why many people choose to take out a loan of some description to buy a car. The good thing about this is that you don't usually have to secure the loan against another asset, like your home. The loan is just secured against the car itself.
Getting finance is a way of spreading the cost of your car, so you don't have to pay for it all in one go.
When people talk about getting 'finance' for their car, they could be referring to one of several financial products.
With multiple types of car finance available, it can be quite confusing when it comes to choosing one. Here's a summary of the popular car finance options:
You pay a deposit and then monthly payments over the loan term. The loan term's usually 2-5 years. At the end of the term, you own the car outright. But until then, the finance company owns the car and you're essentially 'hiring' it from them.
You pay a deposit and monthly payments for a fixed term. When the fixed term ends, you can either swap the car for a newer one, or buy it for a final payment fee. Sometimes this final fee is called a 'balloon payment'.
Alternatively, you can just return the car. The bigger the deposit you pay, the lower your monthly payments will be. With a PCP, the monthly payments are usually lower than they would be with a hire purchase deal. That's because you're paying off the amount the car depreciates, rather than the whole value of the car.
This is almost the same as buying with a PCP, but there's no option to buy the car at the end of the term. You either swap it for a newer one, or return the car.
With a personal loan, you borrow a sum of money which you pay back monthly over a fixed term. You can then use your sum of money to buy a car. For a personal loan, you won't need a deposit. With this option, the loan doesn't tend to be secured against the car, so you often own the car outright as soon as you buy it.
The cheapest way to finance your car depends on your personal circumstances.
You'll also need to think about whether you want to own the car at the end of the term, trade it in, or just hire a car on an ongoing basis.
With any of the options, it's likely that you'll have to pay interest rates and other fees, so it's important to shop around.
To get the best car loan for your needs, there are a few things to think about.
How much do you need to borrow? Find a loan for the amount you need to purchase your car. Some companies offer loans up to £100,000.
How long do you need to pay the loan back? Look for a loan that offers a suitable term. Most car loans can be repaid over 1 to 5 years.
What's the representative APR? This is the interest rate you'll be charged for your loan. Look for the lowest APR you can find, so it costs you less to pay it back.
Do you have a deposit? Different options might be available to you depending on how much - if any - you're putting down as a deposit.
Some loans are secured against the vehicle you buy, so your car could be at risk if you don't keep up your repayments. Check if the loan is secured before you apply.
The main thing you'll need to know is how much you can realistically afford to spare each month to pay for your car. It's important not to overstretch yourself to the point that you can't afford to make the payments.
The other thing to look at when you take out any form of car finance, is the total cost of the credit. This will show you which deal is best overall, across the time period. Don't forget that if you go for a longer loan term, your monthly payments are likely to come down, but you'll probably pay more interest overall. So it might not be the best deal.
Remember that everyone's personal circumstances are different. What's right for someone else might not be right for you, so choose your car finance based on your own situation.
The free car finance calculator on this page will help you to see how much your monthly payments could cost. All you need to do is enter your loan term and amount.
You can then find a loan with CarFinance 247. Complete the quick and simple application form, and get details of the loan you can get and its interest rate.
Through CarFinance 247 you can find loans to buy:
And a range of other vehicle types.
No. It's free to get loan quotes from CarFinance 247, and there's no obligation. This means you can choose whether you want the car loan or not once you've got the details.
A car loan application through CarFinance 247 is quick and easy. To complete the application form, you'll just need to confirm:
How much you want to borrow
How long you want to borrow the money for
Some of your personal details (such as name, address and date of birth)
Your employment details.
You'll be credit checked to see how risky it would be to lend to you.
When you do your application, your credit record will be checked.
This could impact what you're offered. If your credit record is poor, it's likely that there will be fewer deals available to you. CarFinance 247 will aim to find you a car loan regardless. If you have a good credit record, it's likely there will be more - and better - options open to you.
It's best not to apply for multiple loans at the same time, as doing so could impact your credit record even further.
It depends, so check before you apply, but most lenders will let you buy a new or used car from an approved dealership.
When you apply with your preferred broker/lender, they will check your credit record.
It stands for Annual Percentage Rate, and is the interest you pay on the total value of your loan. The lower the APR, the less you will need to repay.
Most types of car loans need a deposit towards the purchase, but Confused.com includes some no deposit options.
Yes, you can use the loans to buy used or brand new vehicles.
If you have bad credit, it’s likely that there will be fewer deals available to you, or none at all.
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