On-Road Price

Roman Danaev

25 May 2023

Meaning and Definition

The on-road price refers to the total cost a buyer pays to own a vehicle, including the ex-showroom price of the vehicle, taxes, registration fees, insurance, and any additional charges. It represents the final price a buyer needs to pay to drive the vehicle legally on the road.

Why it is important to know

Understanding the on-road price is crucial for car buyers and car finance borrowers as it provides a comprehensive view of the total cost involved in purchasing a vehicle. By considering the on-road price, borrowers can accurately assess the affordability of the vehicle and plan their finances accordingly. Additionally, when seeking car finance, borrowers may need to factor in the on-road price to determine the loan amount they require.

Example in car finance

Suppose a car buyer is interested in purchasing a car with an ex-showroom price of £20,000. In addition to the ex-showroom price, they need to consider taxes, registration fees, insurance, and other charges. After accounting for these additional costs, the on-road price of the vehicle may be £22,000. When applying for car finance, the borrower may seek a loan for the on-road price, considering their down payment or deposit, to cover the total cost of the vehicle and associated expenses.

Car finance calculator

Must be between £3,000 to £50,000
Must be between £100 to £10,000 and difference between borrow and deposit must be £5,000
24month
36month
48month
60month

These estimates are subject to credit checks and may change when you apply for finance. this is for example purposes only

Hire Purchase (HP)
APR 9.9%

60 monthly payments of

£0


Interest rate
9.9% APR
Amount of interest
£0
Total payment
£0
Personal Contract Purchase (PCP)
APR 9.9%

60 monthly payments of

£0


Optional final payment
£0
Interest rate
9.9% APR
Amount of interest
£0
Total payment
£0