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.

We compare car finance deals for you

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  • PCF Bank logo
  • Moneybarn logo
  • Marsh logo

What is low APR car finance?

Low APR car finance ensures you get the best possible deals on the latest vehicles available today. APR stands for Annual Percentage Rate, which is the interest that is added to your finance loan and included in the monthly repayments each month. Low APR car finance can lower the amount of interest you need to pay across the year and make it much more affordable.

How do I get low APR car finance?

Applying for car finance with Carplus gives you a much better chance of securing a car finance deal rather than going direct to a lender. If your direct application is rejected by a lender you will have to start the process again elsewhere, and receiving more than one refusal could negatively impact your credit score.

The advantage of using Carplus is we pass your application on to a panel of approved and regulated lenders and if there is a suitable match you can then choose the best one to suit you. We do not carry out any credit checks, so using Carplus will not affect your credit score at all.

How can I get low monthly repayments?

There are some things you can do to increase your chances of getting the best possible deal from a car finance lender.

  • Provide proof of income: Whether a tax return, pay slip or bank statement showing proof of income can help you get low APR car finance.
  • Credit score check: Request a free copy of your credit report from Equifax, Experian or TransUnion to see your current score and take necessary steps to improve it.
  • Shorter-terms: Short-term deals (36 months) can lead to high APR. Give yourself more options when looking at deals, including the car and repayment period.
  • Use a guarantor: A guarantor with a good credit score could help you get a good deal with low APR car finance.

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