Payments by loan term
| Term | Monthly payment | Total interest |
|---|---|---|
| 36 months | £648 | £2,343 |
| 48 months | £503 | £3,138 |
| 60 months | £416 | £3,950 |
| 72 months | £358 | £4,778 |
| 84 months | £317 | £5,623 |
How it's calculated
- Sales tax is charged on the price minus the trade-in value in most places.
- Amount financed = price + tax + fees − down payment − trade-in.
- Monthly payment = P × r / (1 − (1 + r)^−n), with r the APR ÷ 12.
Questions people ask
Is a longer car loan cheaper?
The monthly payment is lower but you pay more interest overall, and you may owe more than the car is worth for longer.
Does a bigger down payment help?
Yes. It lowers the amount financed, the payment and the total interest.
Reviewed by Soufyane S.. Last updated Oct 25, 2026. How we check numbers
Estimates for information only, not tax, legal or financial advice. Check with an adviser or the official tax authority.