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Bad Credit Car Finance Calculator

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Loan Amount
Loan Amount

£5200

Period
Period

29 months

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Representative example – Total amount of credit £4750, annual interest rate 25% (fixed), charge for credit £3572.48 (£3562.48 interest charged and £10 option to purchase fee), total amount payable £8322.48, 36 monthly instalments of £231.18. 49.6% APR Representative. – Subject to status & affordability.

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Car Loan Calculator

Here at Go Car Credit we are specialists in providing bad credit car finance. We aim to help you find an affordable car that suits your needs even if you have had bad credit in the past. But we know that car finance can sometimes seem complicated. So, we created a car finance calculator to help – a free tool that will set things straight before you apply.

Our online car repayment calculator couldn’t be easier to use. Simply use the sliders to select the amount you want to borrow (up to £10,000) – and for how long (up to 48 months). The calculator will then do the rest, providing you with an approximate amount that you could expect to pay back each month.

There are no hidden fees or any other extras. Not comfortable with the amounts shown? You can simply readjust the sliders on our car loan calculator. That way, you’ll be able to find the monthly payment amount that’s right for you – and, more importantly, one you can afford.

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How do you use our car finance calculator?

Our online car finance calculator is designed to be easy to use and just as easy to understand.

To get started, it’s often advisable to have a rough idea of how much you want to pay back each month and for how long. When using our bad credit car finance calculator, you should also think about how much you can afford to repay along with your other bills and monthly costs.

Other important things to be aware of when using this tool:

  • Our car finance calculator is for illustrative purposes only. It is not a quote, an offer of finance or a guarantee that you’ll be accepted.
  • The finance offers available to you will depend upon factors such as your vehicle being financed, your personal circumstances and our lending policies.
  • Our car finance products are only available via selected dealers.
  • To get an exact quote, please apply for car finance now.
  • All lending is subject to status checks and an affordability assessment.
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How does our bad credit car finance calculator work?

Our bad credit car financing calculator is designed to give you an idea of how much it’ll cost to obtain car finance with Go Car Credit and how long it’ll take to pay back what you owe. While it can’t make any firm promises, it’ll give you a much clearer understanding of what to expect.

Some of the questions our car finance calculator can help you to answer before applying are:

  • Can you afford the monthly repayments on the car you’re looking at?
  • Are you able to pay back a little more each month to pay off your finance sooner?
  • Will you be able to keep up with your monthly repayments for the entire period?

The monthly amount that our car repayment calculator shows is based on two simple things – how much you’d like to borrow and for how long. It’s also based on our representative APR of 49.6%

apr

What is APR?

Using our car finance calculator, you can see how much it could cost to buy the car that’s right for you. When you apply for bad credit car finance, there will be a cost involved.

APR – annual percentage rate – is that ‘official’ cost of borrowing over a 12-month period. With this figure, you can compare all sorts of financial products such as credit cards and loans. It lets you better understand what our online car credit calculator is telling you.

A representative APR is the rate of interest that 51% of successful applicants will get.

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Why choose Go Car Credit?

It’s no fun being turned down for a financial product – whether it’s car finance, a credit card or something else. But it’s important to remember you aren’t alone.

Our aim is to get people back out on the road and our poor credit car finance calculator is your first step. Here are some more reasons why you can turn to us for the car finance you need:

  • Credit building: Our hire purchase deals don’t just get you a great new car. Keep up with your monthly repayments and you’ll rebuild your credit score at the same time.
  • No nasty extras: Our costs, terms and conditions are agreed with you right from the start – so you won’t need to worry about any hidden extras or nasty surprises.
  • Easy application: If you’re happy with what our car repayment calculator shows you, applying couldn’t be easier. It takes just a couple of minutes and you’ll get an answer from a friendly member of our team.
  • Responsible lending: We have a duty of care to all our customers – taking an ethical approach to everything we do. It means we’ll only ever offer you a hire purchase plan that you can afford.
  • Fully regulated: Go Car Credit is authorised and regulated by the Financial Conduct Authority. We’re also members of the Finance and Leasing Association and adhere to their Lending Code.
  • Your satisfaction: Don’t just take our word for it – our “excellent” Trustpilot score is based on loads of independent customer reviews.
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Things to think about before applying for car finance

Just because our car loan calculator suggests that you could get a deal to suit your needs with us, it’s no guarantee that you actually will. Before applying, there are a few factors that it may be worth thinking about to give you the best chance of being approved:

  • What type of car are you hoping to get? You might have to be realistic and be prepared to compromise. If your credit history isn’t great or you can’t afford to borrow too much, that supercar will have to wait until another day.
  • Do you know your credit score? Many people don’t – but it can be a good idea to check first as it can affect your chances of getting a better rate or just being approved. Check for free with the main UK credit reference agencies – Equifax, Experian or TransUnion.
  • Can you afford to keep to your monthly repayments – not just for the first few months, but the entire length of the period you sign up to. A late or missed repayment will hurt your credit score, so make sure it’s not a situation you’ll end up in.
Bad Credit Car Finance

Can our car finance calculator help if you have bad credit?

Our car finance calculator is designed to show you exactly how much you could be paying back each month. If you don’t have the best credit score, this can be really useful because it will let you plan your finances and make sure that you’re not taking on something you can’t afford.

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Applied? What happens next?

If you’re accepted…

Good news – you’ll get the finance you need to find your next car.

We do have criteria that must be met, which includes maximum mileage restrictions and maximum age of vehicle restrictions.

But don’t worry – we can help you find your ideal car from one of our many trusted dealers located right across the UK.

If you’re not…

We always try to do our best to help those finding it hard to get credit.

Sadly, we can’t help everyone every time. But we will be open and honest with you if we’re not able to approve your application.

It’s best not to apply again straight away. Too many applications in a short space of time can make it even harder to be approved.

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Want more information about car finance?

Visit our Bad Credit Car Finance page for more information on how we can help you get the finance you need for your next car purchase.

Not sure how it all works here at Go Car Credit? Find out How Our Finance Works and understand more about our car finance process.

What’s next?

Now our bad credit car finance calculator has given you a good idea of your budget, the next step is to apply for finance with us. Do it today in less than 2 minutes!

We would suggest you think about the costs associated with your choice of car such as fuel, insurance, tax, MOT, servicing and maintenance costs, as these will all have an influence on the affordability of the vehicle. The finance is secured on the vehicle, so if you don’t keep up with the monthly repayments, Go Car Credit can repossess the car. Failure to make payments can also affect your credit report.