Car Finance Calculators and Guides.
Car Finance Calculators and Guides

Car Finance Calculator

✔ Comparing Car Finance options can become confusing. This simple car finance calculator allows you to quickly enter a loan amount, interest rate and term of the finance to produce a list of the total amount borrowed and repaid over a number of years.


Car Finance Calculator

The Car Finance calculation below provides examples of monthly finance repayments over different terms (years/months) with your selected term shown in the right column. This allows you to compare monthly repayments and have visibility of the true amount of interest (in percentage terms) that you will pay during the full term of the loan.

What?Car Loan Repayment Term
1 Year
12 months
2 Years
24 months
3 Years
36 months
4 Years
48 months
5 Years
60 months

Car Finance Tips

  • Can you afford it?

    Be realistic, it's only a car. Make sure you can afford to make the car loan monthly repayments. Only you really know if you can afford more finance. Taking out loans which you will struggle to repay will only cause you financial hardship and pain in the future.

  • Do your homework.

    While some Money lenders are always looking to provide attractive deals other look to get the most interest out of their investment. Consequently car finance deals come in all shapes and sizes with interest rates and balloon payments that can distort the real cost.

    Look around and do comparisons on different car loans, see which deals are available. Most banks and building societies run promotions at various points of the year.

    Never assume that one lender is better than the other, look for the good deals as they could save you a lot of money. Banks are normally cheaper than car dealerships!

  • Check the Interest Rate.

    The most common mistake that lenders make is not fully reading and understanding the interest rates applied to their car loan.

    Catchy low interest rates and low monthly repayments can detract from that big lump sum you need to repay at a later date. Most lenders advertise at low interest rates to get you in the door but you are likely to find that achieving the low rates means borrowing more than you budgeted for or taking out the loan over a longer term, this will mean you repay much more money! Don't be tempted, set a budget before you buy your car and stick to it!

  • Borrow Little, Repay Quickly.

    The best car loan is one repaid quickly. A quick repayment means less interest paid and less stress about your debt.

  • Pay Day Loans.

    Pay day loans are brilliant if you want to destroy your financial credibility, get yourself into spiraling debt and have years of stress and anxiety over your finances.

    DO NOT use Pay Day lenders and certainly not for a car, there are much better options. They do not care about you or your finances and will destroy your life simply to make money.

  • Don't Lend at All!

    It's difficult to avoid taking loans in modern society. Modern life is about consumerism and spending. Our grandparents survived and had healthy life's by getting by and enjoying the rare treats.

    There is a lot to be said for living a simpler life without financial stress. If you can, save. Make that reward or treat worthwhile my making your money work for YOU and not for someone else.

  • Personal Loan or Car Loan?

    Personal loans normally offer better interest rates than car loans but your really should shop around. Second hand dealerships normally offer ridiculous APR rates and will push you to take the loan, often showing a lower APR that you will receive. Used car loans typically provide large commissions for used car dealerships and will rarely offer a better interest rate that a personal loan. If you are looking to buy a new car, shop around and be patient.

    Almost every dealership offers a 0% finance deal at some point in the year. You can get your dream car and a dream interest rate if you are patient and buy wisely.