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What Loan Amount Can I Borrow?

Tim Carpenter, Dedicated car finance expert
Written by Tim Carpenter
Edited on

If you are hoping to buy a car (or motorcycle, motorhome, campervan or even horsebox, for that matter), one of your first questions might be how much you can borrow.

It is a natural and simple question, but the answer is slightly less straight forward. The reason for that is the sheer number of variables any lender is likely to take into account before granting the finance you need.

Firstly, we ask for you to provide us with a rough figure that you’re looking to borrow, and we will do our best to get you approved for that amount. When looking into your finance application, we firstly make sure the finance option we are offering you is within your budget.

Lenders will look at your affordability and income, whilst also taking your credit profile and any deposit you have available (if you choose to put one down) into consideration when determining the total loan amount.

With such a large panel of lenders, we have finance options available that are tailored to suit a variety of individual circumstances. Good credit, bad credit, high income, refused elsewhere, self-employed and retired – all circumstances are considered.

If approved, you can choose a car from any reputable dealership in the UK!

Why not use our car finance calculator now to see how much a loan for a car, van, motorbike or caravan could cost?

Get a quote No impact on your credit score

Rates from 6.9% APR. Representative APR 27.4%

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Tim Carpenter, Dedicated car finance expert
Tim Carpenter Car Finance Expert
5 Years
Total cost of credit £ XXX.XX
Total repayment £ XX,XX.XX
48 monthly
payments of
£ 245 98

Rates from 6.9% APR: the exact rate you will be offered will be based on your circumstances

Representative example: borrowing £6,500 over 5 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £188.74 per month, with a total cost of credit of £4,824.37 and a total amount payable of £11,324.37

Rates may differ as they are dependent on individual circumstances. Subject to status.

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