Excellent – extensive credit history, no past due payments, no outstanding convictions, and no credit denials.There are several car credit scores from good to bad: The most reliable clients have the highest credit score and the best chance of getting vehicle finance in the UK on favourable terms. After evaluating, it is possible to calculate the total credit score of a borrower. Each characteristic of a borrower is evaluated in credit points. Usually, several credit score systems are used for different categories of borrowers or types of car finance. Explaining credit scores and the car finance calculatorĪ credit score is a borrower evaluation system by which banks and financial institutions can predict how diligently a person will pay back a car loan. Fill out our application form to get a car finance quote if you'd like an exact APR. Please keep in mind that the three APRs displayed by our calculator are merely an estimate. This will give you an idea of the various financing and payment options available in the UK. If the APR is low, moderate, or high, the car finance calculator will estimate how much you'll have to pay back. There are two different types of car financing in the UK - HP, and PCP.Ī hire purchase (HP) is a type of car finance that allows you to purchase a car or any vehicle in the UK without paying the total amount all at once.Ī personal contract purchase (PCP), on the other hand, is a type of car finance that requires you to pay the entire amount for the car in full. Input the amount you'd like to borrow and the period over which you'd like to repay the loan, then our online car finance quote calculator will do the hard work for you. It gives you an indication of how much car finance would cost. Just choose how much money you want to borrow and how long you want the payment to last.
Our car finance calculator shows you how much money you'll have to put down each month to repay your car loan.
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