motorly: finance made easy

  • No broker fees
  • Buy from any approved dealer

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Car Finance Calculator

Over 4 Years
Best available rate
XX% APR
Total cost of credit
£ XXXXXX
Total repayment
£ XXXXXX
XX Monthly Payments of
£

motorly is a credit broker, not a lender. Rates start from 6.9% APR. The rate you are offered will depend on your individual circumstances. Representative Example: Borrowing £5,500 over 48 months with a representative APR of 22.9% the amount payable would be £287 a month, with a total cost of credit of £1406 and a total amount payable of £6906.

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3 easy steps to buying your new car

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Apply today using our simple form - it only takes 2 minutes

approval

We search our trusted partners to find you the best deal for your needs and circumstances

and drive away...

With finance approved, you're ready to buy and drive away in your new car

Why choose motorly?

  • You can borrow from £3,000 to £50,000 over 1 to 5 years - helping you finance the car of your dreams.
  • Most of our panel do not require a deposit. All we will need is proof of your income and a valid ID to get you approved and underwritten on the same day. We help customers from all backgrounds and circumstances find the right car finance deal for them.
  • Applying with us won't affect your credit rating. Our panel of providers will initially run a soft search for approval.
  • We’re a broker and not a lender, which means we have access to a panel of car finance providers who specialise in helping customers from all backgrounds get a car loan.

FAQ Section

Pros and Cons of Car Finance

Buying a vehicle can be a minefield. There are so many options available to the consumer so making the right choice can be somewhat daunting.

There are many options when financing your car, from personal car loans, to hire purchase, leasing and more.

Once you’ve decided which way you intend to buy your next vehicle, we recommend you research any companies you apply with. Once you have received your quote, ensure that you:

  • Read the small print.
  • Take the time to read online reviews about the company on reputable review platforms such as Trust Pilot.
  • Compare the APR’s.

If you’re considering options like PCP, make sure you understand how the balloon payment has been calculated and whether the mileage reasonably aligns with the quote provided.

Car Finance is one of the most popular options for motorists. Car Finance is a method of paying for your vehicle by dividing up its total fixed value over affordable monthly payments. The amount you pay each month will remain the same throughout the payment period, which is usually between one and five years.

Rates can vary depending on how much you are borrowing, the term of the loan, and your personal circumstances.

Car loans rates are also referred to as ‘representative’ APR’s (Annual Percentage Rates).

They should represent that 51% of people accepted for that loan should get that rate, and the other 49% would get given a higher rate.

I have a fair credit rating - can you help?

If you have a fair credit rating, there is every possibility of you being approved for finance to buy a vehicle. We have many finance packages available for those with fair credit, so we should be able to find a deal that suits you.

As we have a large panel of lenders, we are able to scour the market to find the best deal for your individual circumstances.

What if I've been refused finance from elsewhere?

If you have poor or bad credit, or you have been refused finance elsewhere, the good news is that we may still be able to help you. In fact, a number of our lenders specialise in assisting those with bad credit obtain car finance.

While car finance cannot always be guaranteed, we do have options available to help people in a wide range of personal circumstances, including those that have CCJs on their file, are in an IVA or have previously been bankrupt (now discharged).

Even if you have been declined for a car loan elsewhere (such as from a bank, a car dealership or even another car finance broker), the good news is that we do work with lenders that specialise in bad credit car finance, so still may be able to help.

What is the Annual Percentage Rate – APR?

APR is the abbreviation for ‘annual percentage rate’, which describes the amount of interest a bank or a lender charges on money that it lends, calculated for a period of a year. The purpose is to provide an easy, comparable figure which takes into account interest and fees.

What’s the difference between representative and exact APR?

Representative APR is the figure that companies use to advertise their rates. Once a credit check has been taken into consideration, the lender will decide whether you’re eligible for the representative rate or a different rate.

By law, only 51% of people are actually required to receive the advertised rate. So once your information has been checked, you will get your exact APR – which will be the amount you actually end up paying.

Apart from APR are there any other hidden costs when taking out car finance?

There are no hidden extras on our website – what you see is what you will be paying.

Representative example with APR of 10.5%

  • Car purchase price is £14,000.
  • You offer a deposit of 10% = £1,400, leaving £12,600 to borrow.
  • You accept a car loan, and borrow £12,600 over 4 years.
  • You get a good 10.5% Representative APR (fixed); meaning 48 payments of £323 a month (this would equate to £15,485 to be repaid over the 4 years).
  • So in total, you would pay £16,084.
  • With this loan rate being 10.5% Representative APR (fixed), you would pay just £2,885 in interest over the life of the loan.
  • Once all the repayments have been made, the lender marks the loan as settled on your credit file and you would own the car outright.

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