Skip to content
FinanceWith Ease
Change country: United Kingdom

Choose your country

Australia Canada Ireland New Zealand United Kingdom United States

Car Loan Calculator

Work out your monthly car loan repayments, the total interest and the real cost of the car, with your deposit and part-exchange.

£
£
%
More options
£
£

Registration, documentation and similar

Monthly payment

£477.62

60 payments on £22,500 at 9.96%

Total interest
£6,157
Total cost
£31,157
What the car really costs
  • Car price£25,000
  • Interest£6,157

What this means

Interest adds £6,157, so the car really costs £31,157.

A shorter loan or a bigger deposit cuts the interest. Cars lose value fast, so try not to owe more than the car is worth.

Next step

Breakdown

Car price£25,000.00
Deposit-£2,500.00
Amount borrowed£22,500.00
Interest£6,156.89
Total repaid£28,656.89

About the rate

New personal loans averaged 9.96% in August 2026 (Bank of England); car finance rates can be lower.

Use the rate you’ve been offered: it depends on your credit, the lender, the car’s age and the loan length. A longer loan lowers each payment but costs more interest.

Principal and interest paid each year
£5,731£2,866£0
12345
PrincipalInterest
Assumptions in this estimate
  • Assumes a fixed rate and equal repayments, with interest worked out on each repayment. Your lender’s figures can differ slightly.
  • Balloon payments, lender fees and insurance aren’t included.
Spotted a mistake? Tell us

How the calculator works

  1. The amount you borrow: the car price, less your deposit and part-exchange.
  2. Your monthly repayment: worked out so equal payments repay the loan, with interest, by the end of the loan.
  3. The real cost: everything you pay, up front and in repayments. The chart below shows how much of each year’s payments goes on interest.

An example

A £25,000 car with a £2,500 deposit leaves £22,500 to borrow. At 9.96% over five years, that’s £477.62 a month and £6,157 of interest. New personal loans averaged 9.96% in August 2026, according to the Bank of England; car finance rates can be lower.

The rate you’re offered depends on your credit history, the lender, the car’s age and the loan length, so use your own rate for the most accurate result.

Last updated

Frequently asked questions

How is a car loan payment worked out?

Your loan is the car price less your deposit and part-exchange. Equal monthly repayments pay it back with interest. On £22,500 at 9.96% over five years, that’s £477.62 a month.

Is a longer car loan better?

It lowers each repayment but costs more in interest overall.

How can I lower my monthly repayment?

Put down a bigger deposit, part-exchange your old car, compare personal loans with dealer finance, or choose a cheaper car. A longer loan lowers the repayment but costs more interest.

Is this the same as PCP or hire purchase?

It works like a loan or hire purchase, where you pay off the whole car. PCP is different, because you leave a large final "balloon" payment at the end, so its monthly payments are lower. This calculator doesn't include balloon payments.