Representative Example: You could borrow £10,699 over 60 months with an initial payment of £495.89 (including £199 Admin Fee) followed by 58 monthly payments of £296.89 with a final payment of £495.89 (including optional £199 Option to Purchase Fee). Total amount repayable will be £19,012,40. 26.1% APR, annual interest rate (fixed) 13.3%.
The Admin Fee is a £199 fee that helps cover the costs of setting up your finance agreement. It covers things like preparing your agreement documents, carrying out credit and identity checks, and arranging payment to the broker. This fee is paid at the same time as your first payment, and it isn't refundable. It's separate from your deposit and from any other charges on your agreement.
The Optional Purchase Fee is a £199 fee you only pay if you decide to buy the car at the end of your finance agreement. You don't have to buy the car, that's entirely your choice. If you choose to hand the car back instead, you won't pay this fee. If you decide to keep the car, you'll need to pay the £199 Optional Purchase Fee, usually along with your final payment, to transfer legal ownership of the vehicle to you. This fee covers the cost of finalising your agreement and removing our interest in the vehicle. It's separate from your deposit and from any other charges on your agreement.
The amount shown is an illustration of a typical monthly payment based on the Representative APR. These figures are for guidance only; the actual payments and rate you're offered will depend on your individual circumstances and are not guaranteed. Please see below for details of how your first and final payments may be different.
Try our used car finance calculator to estimate your monthly payments, check term and deposit options and see how much your car finance might cost.
The figures shown in this calculator are based on the Representative APR for customers with a similar credit profile , the rate that at least 51% of customers in that group are expected to receive, based on our standard lending criteria.
The figures shown are for illustration only and are based on typical rates for the credit profile you’ve selected. They don’t guarantee that your application will be approved or that you’ll be offered the same rate, payments, or terms. Your actual APR and payments may differ depending on your circumstances. Finance is subject to status, affordability checks, and our terms and conditions.
Using our used car finance calculator is simple, but you might be wondering how a deposit, APR or the total amount payable affects your monthly payments, or how these figures are calculated. Below, we’ve explained each one in a little more detail to help you understand how they work and what they mean for your car finance.
APR (Annual Percentage Rate) is the yearly cost of borrowing, including interest and fees. It affects how much you pay each month and the total cost of your car finance. A higher APR means higher monthly payments. Your APR depends on your credit score, deposit, term and lender criteria. A better score or larger deposit can reduce it. Always check the full breakdown so you know what’s included and how it fits your budget.
The total amount payable is the full cost of your HP finance agreement. It includes the car’s price, deposit, interest over the term and any fees. It’s calculated by adding all monthly payments and upfront costs. Factors like your credit score, deposit size, loan term and interest rate can affect it. A longer term may lower monthly payments but increase the total cost. Always check what’s included so you know what you’re committing to.
Your deposit is the upfront amount you put towards the car’s cost. It can lower your monthly payments and reduce the total amount you repay. With AutoMoney, deposits are optional and depend on the car and how much you want to borrow. Choosing not to pay a deposit is possible, but it may mean higher monthly payments. Your deposit, credit profile and agreement term all help outline your finance offer and overall affordability.
