We compare car finance deals for you

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Car finance calculator

Good credit
Bad credit
Amount to borrow:
To repay over:
5 Years
Car finance rate XX% APR
Cost of credit £ XXX
Total repayment £ XX,XX.XX
48 monthly payments of
£ 245 /mo

Representative example - Borrowing £5,500 over 4 years with a representative APR of 19.8%, and a deposit of £0, the amount payable would be £162 per month, with a total cost of credit of £2,282 and a total amount payable of £7,782.

Carplus will find the best car loan rate from our panel of lenders and will offer you the best possible deal. We don’t charge fees, but we earn a commission. This does not influence the APR you’re offered in any way.

What types of car finance loan are there?

There are three main types of car finance loan available to customers:

  • Personal loan: This involves taking out an unsecured personal loan and repaying monthly instalments over a fixed period. Not only can you purchase the vehicle upfront, but as the owner you can sell it whenever you need.
  • Hire purchase: Hiring a vehicle from a car finance company requires you to put down a deposit of around 10% of the full loan amount. You then pay monthly instalments for the duration of the agreed contract. The larger the deposit paid, the lower the instalments will be.
  • Personal contract purchase (PCP): Taking up this option works in a similar way to hire purchase, including monthly payments and an upfront deposit. This may be a more cost-effective option as you are paying off the depreciation of the car at the end of the contract, rather than the cost of a brand new vehicle. You then have the option of paying off the remaining value and holding onto the car, returning the car, or starting another PCP contract on a brand new car.
Finance features:
Hire purchase (HP)
Personal contract purchase (PCP)
Personal loan
Requires initial deposit
Car is yours at the end
of the agreement
Fixed monthly payments
Optional balloon (final) payment
Avoid excess mileage charge
Secured against an asset (e.g. a car)
Support with vehicle issues

How much will a car finance cost?

Before committing to a car finance loan you will want to ensure you are able to afford your preferred choice of car. The price you pay will vary depending on the:

  • Loan type: Choosing between an unsecured loan, PCP, or hire purchase agreement will have a direct impact on how much you pay each month, and overall.
  • Credit history: The better your credit history, the more favourable the interest rate on the loan will be. The opposite is also true, as lenders want to ensure you can afford to repay the loan without defaulting.
  • Deposit you put down: Putting down a larger deposit will usually mean your monthly instalments will be lower as a result.
  • Interest you take out: The annual percentage rate (APR) will vary depending on your individual circumstances. While a representative APR will be advertised, there is no guarantee you will be offered this figure for your loan. Carplus APR rates start at 5.9%.

Can I get car finance if I have bad credit?

People may be unsure whether or not having bad credit will affect their chances of securing a car finance deal. However, even if you have bad credit you may still be eligible, although the deals may not be as good as someone with good credit.

Carplus maybe able to help even if you have a bad credit rating. That’s because we search for best deals from over 20 reputable lenders. The initial quote will require a soft credits check that will not have an impact on your credit rating.

If you’re worried that your current credit status may affect your choices, this could be the option for you.


Your questions answered

At Carplus we do quotation search, which does not leave a footprint on your credit file. This means that applying and getting a personalised car loan quote won’t affect your credit score. We will search a panel of lenders and find you the best car finance deal to match your budget and affordability.

If you want to make extra payments or pay off your car finance agreement early, the lenders won't charge you any fees. Alternatively you can trade in your car with outstanding finance and refinance for a new finance agreement.

If you’ve applied for a car loan in a bank, car dealer or another car loan company and have not been successful, we may still be able to help you. Here at Carplus we have over 20 car finance lenders on our panel who specialise in helping customers with poor credit to get a car loan.

We work with a panel of over 20 car finance companies which means that we can assist customers with poor or bad credit history to get accepted for car finance. We understand that you are not just a number on credit profile, so we consider all personal circumstances in getting you a tailored car finance deal. We compare a variety of car finance products from UK’s top lenders in getting you the best rate.

Yes, you can choose a car from any reputable dealer across the UK.

You won’t need a deposit in most cases. This means that lenders will finance the 100% value of the car. Simply get your quote today to see how much you can save on car finance with us.

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Car finance? 1. Get car finance approved. 2. Choose any car from any dealer. 3. Get it delivered next day. We’re open Monday to Friday (8am - 8pm) and Saturday to Sunday (10am - 5pm).