Car Finance Calculator

Our car finance calculator takes into account factors such as interest rates, credit scores, and your budget to provide you with a personalised estimate. Simply enter your desired loan amount and repayment term, and we’ll show you the estimated monthly payments based on UK credit scores (excellent, good, fair, or bad).

Your credit score is like a report card for lenders. It helps them assess how likely you are to repay a car loan on time. Lenders use different scoring systems, and various aspects of your financial history contribute to your overall score. The higher your score, the more reliable you appear, which can increase your chances of securing favourable terms on car finance.

• Excellent – extensive credit history, no past due payments, no outstanding convictions, and no credit denials.
• Good – no or very few missed payments, few loan denials, but not always offered the lowest interest rate.
• Fair – if credit history has missed payments or exceeded the credit limit. The lowest rates are not always offered, and there were also credit denials.
• Poor – if past loans were received at high interest or high collateral, missed payments in the past.
• Bad – many missed payments or past financial difficulties, such as bankruptcy

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Getting a car loan estimate at Smooth Car Finance is easy. Simply enter your desired loan amount, loan term, and credit score. 

Our calculator will estimate your interest rate, total loan cost, number of payments, and monthly payment amount. At Smooth Car Finance, we're committed to finding eligible financing options for everyone.

Keep in mind that the actual amount might differ depending on your details, car choice, interest rates, and chosen lender.

To apply for car finance, we only need a few details:

• Full name
• Driving license
• Employment details
• Residential status and address
• Mobile number and email address

You have to be between 18 and 75 years old, be a UK resident for at least 12 months, and receive a monthly income of at least £1,000.

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Choosing the right car finance deal goes beyond picking a car—it’s about finding the right fit for your lifestyle and budget. Here are the two main options:

• Hire Purchase (HP): Think of it as renting with an option to own. HP allows you to own the car after the final payment (known as the "option to purchase"). While the monthly payments may be higher, HP often offers more flexibility in terms of mileage.
• Personal Contract Purchase (PCP): With lower monthly payments, you don’t automatically own the car at the end. You can choose to return it, make a ballon payment to keep it, or use the remaining value as a down payment on a new car.

Even with bad credit, you can use our car finance calculator to get a rough estimate of your monthly payments. Just enter "bad credit" and the loan amount and term you’re interested in, and we’ll generate an estimate for you within seconds.

Bad credit doesn’t always mean you can’t get a car loan. We understand that financial difficulties happen, and that’s why we work with lenders who specialise in financing for all credit situations. Use our loan calculator to see what your monthly payments might look like.

Your monthly car payment depends on several factors:

• Your budget: How much you can comfortably afford will determine the car you can choose and your down payment.
• Your down payment: A larger down payment can lower your monthly payments, but we also offer zero-deposit options.
• The car: The price of the car you want will directly impact your monthly payment.
• Loan term length: A longer loan term means lower monthly payments but higher total costs over time.

Remember to also factor in ongoing expenses:

• Insurance
• Tax
• Fuel costs
• Maintenance and repairs

At Smooth Car Finance, we believe a car should do more than just get you from A to B—it should make your life easier. Whether you need a reliable ride for the school run, a spacious car for family outings, or a vehicle you're proud to drive, we’re here to help.

Whether you have good credit, bad credit, are self-employed, or have been declined elsewhere—we consider all circumstances. We aim to help you find the best deal suited to your financial situation with our trusted lenders.