What Loan Amount Can I Borrow?

Tim Carpenter
Written by Tim Carpenter

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 24.9%

Liked by 19 People

5 years
Total cost of credit £ 2000
Total repayment £ 2000
48 monthly
payments of
£ 245 98

Rates from 6.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £6,500 over 5 years with a representative APR of 24.9%, an annual interest rate of 24.9% (Fixed) and a deposit of £0.00, the amount payable would be £181.16 per month, with a total cost of credit of £4,369.52 and a total amount payable of £10,862.52.

Can't find the right answer?

Our Manchester based team are ready to help you.

* The UK's number one online car finance broker by unique users to the website. Based on Hitwise data – 1,746,657 to CarFinance 247 vs. 666,020 for nearest competitor. January to December 2019.

96% of our customers recommend us: † Based on feedback left on independent review site Reviewcentre. May 2019.

CarFinance 247 is a trading name of CarFinance 247 Limited, a credit broker and insurance intermediary, and 247 Money Group Limited (247 Money), a lender. Both companies are part of the 247 group of companies.

CarFinance 247 is authorised and regulated by the Financial Conduct Authority under reference number: 653019. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. Company registration no. 06035525. Data Protection Registration Number Z1897658.

247 Money is authorised and regulated by the Financial Conduct Authority. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. Company registration no. 10989530. Data Protection Registration Number ZA456831.

All finance is subject to status and income. Written quotations on request. CarFinance 247 can introduce you to a limited number of finance providers, including 247Money, based upon your credit rating and will receive commission for such introductions.

† We do not charge a fee for arranging the finance, however some of our lenders may charge a fee. Your account manager can provide more information on this

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