Car Loan Calculator
Updated on 22 Oct 2026 · Checked by Aotob
Borrowing £27,000 for a car at 7.5% over 5 years costs £541.02 a month.
You pay £5,461 in interest. The car costs you £35,461 in all, with your deposit and trade-in.
Monthly payment
£541.02/month
A 48-month loan would cost £112 more a month but save £1,126 in interest.
Show the working
Borrowed = 30,000 − 3,000 deposit − 0 trade-in = 27,000
Payment over 60 months at 7.5% = 541.02
The same car over different terms
| Term | Monthly | Interest | Total cost |
|---|---|---|---|
| 36 months | 839.87 | 3,235 | 33,235 |
| 48 months | 652.83 | 4,336 | 34,336 |
| 60 months | 541.02 | 5,461 | 35,461 |
| 72 months | 466.83 | 6,612 | 36,612 |
| 84 months | 414.13 | 7,787 | 37,787 |
Questions people ask
What is a balloon payment?
A lump sum due at the end of the loan, set as a share of the car’s price. It lowers your monthly payment, but you pay interest on it for the whole term and must pay or refinance it at the end. PCP deals in the UK work this way.
Is a longer car loan a good idea?
It lowers the monthly payment but costs more interest, and you can owe more than the car is worth for longer. The table shows the trade-off for your car.
Should I add fees to the loan?
Adding them means you pay interest on them. If you can, pay fees up front.
Updated 22 Oct 2026Source: Standard amortization with a final balanceChecked by AotobAn estimate, not financial adviceReport an issue