The Best Online Car Finance Calculators Revealed

Thinking of buying your next car on finance but having a hard time figuring out what you can afford? Feeling confused about interest rates, APRs, different car finance deals, deposits, and loan terms? 😱 Yeah, we get you - car finance can get pretty tricky without the right information. A car finance rate calculator can be an amazing tool throughout your car finance journey to help you plan and get the best deal for your personal circumstances. So without further ado, let’s talk about all things online car finance calculators!

What Does an Online Car Finance Calculator Do? 

If you need to figure out what your monthly payments will be when taking out a car loan, look no further than a car finance calculator online free. Online car finance calculators will ask you for the amount you want to borrow and then give you an estimate of your monthly repayment amounts. 

But is the rate or budget I see on an online cf calculator guaranteed? Well, no, it's not necessarily. Do be aware that the calculations will be based on representative APRs, so they might change when you actually apply for car finance. The next step would be to ask for a decision in principle from your preferred lender so that you can get a more accurate idea of any fees and costs. 

What Is an APR in Car Finance? 

In car finance, an APR stands for Annual Percentage Rate – a figure that represents any costs associated with your car loan. It will take into consideration the interest rate and any additional fees. The rule of thumb is that the higher your APR is, the more you’ll be charged for your car loan. 

What Are the Different Kinds of Car Finance Calculators? 

Actually, as surprising as it may seem, most types of car finance calculators cater to different types of car finance. There are loads of different factors and distinctions that affect the price of your loan and the amount of your monthly repayments, and car finance calculators take all of these into account. Let’s take a quick look at the different types of car finance before we go any further. 

Car Loan Finance Calculator Online for PCP

Personal Contract Purchase or PCP is probably the most affordable car finance option for both new and used cars. That’s because the monthly payment amounts you’ll get with PCP will be lower than in most other forms of car finance. Why? Because you’re paying for the projected loss in the car’s value during the term of your loan, instead of the full cost of the car, as you would with a Hire Purchase agreement (which we’ll discuss below). 

Once you’ve paid all of your monthly amounts, you can return the can or make a final payment to purchase the car and become its sole owner. Yes, because during the course of your loan you won’t actually be the real owner of the car - it will actually belong to your car finance provider until you’ve paid off the loan in full. 

If you want to learn more about the Personal Contract Purchase agreement with its benefits and drawbacks, feel free to browse through our detailed guide on the matter

HP Car Finance Calculator Online

Hire Purchase, or HP, is available for both used and new vehicles alike. How HP works is that you put down a deposit of usually around 10% of the car’s value, and then split the rest into monthly instalments of equal amounts. You’ll pay off those amounts every month and as soon as you pay the last one, the car is yours. No need to make a final payment as you would do with a Personal Contract Purchase agreement - you’ll simply own the car after the last payment. 

Used Car Finance Calculator

Nowadays, there’s really no easier way to buy a car than to do so online. But is that really true when it comes to used cars? Spoiler alert: oh yeah! Online car finance makes buying a used car easier than ever before, partly thanks to amazing tools like car finance calculators. Our best used car finance tips include: 

  • Taking out GAP insurance to cover the amount you still need to pay back on your loan compared to the cash value of the car in case it ever gets damaged
  • Comparing APRs thoroughly before you make your decision in order to get the best deal possible 
  • Go for a reputable online used car dealership with great reviews and a proven track record
  • Ask for a decision in principle from your lender before you apply so that you don’t risk getting your application rejected

The Best Car Finance Calculator Online UK

Though there may be several options popping up on your screen when you type “the best car finance calculator online uk”, it can be really hard to know which calculators to trust. We totally get it - you’re most likely going to be putting a lot of resources and time into your car finance, and you don’t want to get anything wrong. Loans are a big responsibility, so it’s always best to get the right information before you make any decisions. That’s why we’ve put together a list of the top online car finance calculators so that you can choose and have complete peace of mind. 

So, drumroll…. Our favourite online car finance calculators are….

  1. Our very own Carmoola car finance calculator (Hire Purchase)
  2. Early settlement calculator 
  3. The Halifax car finance calculator (Hire Purchase and Personal Contract Purchase)
  4. The Moneysupermarket car finance calculator
  5. The Lloyds Bank car finance calculator (Hire Purchase and Personal Contract Purchase)
  6. The Carplus car finance calculator (Hire Purchase and Personal Contract Purchase)
  7. The Compare the Market car finance calculator (Hire Purchase and Personal Contract Purchase)


Car finance online can be irresistibly liberating. Spreading the cost of the considerable purchase that is a car over several years so that you don’t have to cash out a huge amount in one go - sign me up, right? 

The thing is, car finance can also be pretty tricky to get your head around. Without the right set of information and the right tools, you could end up making some costly mistakes, like going for a deal with a high APR, or committing to an agreement with a poorly rated car finance provider. If you want to check out our reviews on Trustpilot do have a look!

That’s why we take car finance education very seriously, and we work hard every day to compile the best resources and tools for you. We have a bustling blog where you can find pretty much anything related to car finance. Whether it’s about interest rates, APRs, deposits, loan terms, cheap loans, or credit scores - we’ve got you covered. If you need help, we’re always here to help (we’re a 24/7 car finance company), so feel free to reach out! 😊🚗