Car Loan Calculator
Work out your car loan’s monthly payment, total interest, and full repayment cost in seconds. Built for new, used, and refinanced vehicle loans.
Work Out Your Monthly Repayment
Enter your loan amount, deposit or trade-in, interest rate, and term to see your estimated monthly payment, total interest, and total repayment cost — with the option to model extra monthly payments.
Loan Details
Enter your car loan figures in GBP (£) to calculate repayments
Loan Evaluation
Calculated monthly payments and total costs
Car Loan Types
Common car loan structures to help you choose the right borrowing option for your situation.
| Loan Type | Typical Term | Typical APR Range | Best For |
|---|---|---|---|
| New Car Loan | 36 – 72 months | 5% – 10% | Buyers financing a brand-new vehicle |
| Used Car Loan | 24 – 60 months | 7% – 15% | Buyers financing a pre-owned vehicle |
| Refinance Loan | Remaining term | 4% – 12% | Existing borrowers seeking a lower rate |
| Secured Personal Loan | 12 – 84 months | 6% – 18% | Buyers wanting full ownership from day one |
Car Loan FAQ
Everything you need to know about car loans, interest, and repayment planning.
A car loan monthly payment is calculated using an amortisation formula based on the loan amount, the interest rate, and the loan term. The loan amount is the vehicle price minus your deposit or trade-in value, and the formula spreads the principal plus interest evenly across every monthly instalment.
Yes. A larger deposit reduces the amount you borrow, which lowers both your monthly payment and the total interest charged over the life of the loan, since interest is calculated on the outstanding balance.
Lenders typically reserve the lowest advertised APRs for borrowers with strong credit histories. A higher credit score generally unlocks lower interest rates, while a limited or poor credit history usually results in a higher APR offer.
Making extra monthly payments reduces your outstanding principal faster, which shortens the loan term and lowers the total interest paid overall, provided your loan agreement does not charge an early repayment penalty.