Skip to content
Did you know your browser is out of date?
To get the best experience when using our website we recommend that you upgrade to the latest version of one of these browsers.

Compare car finance

Find the best deals on car loans

  • Doesn’t harm your credit score
  • See your chance of being accepted
  • A small step towards Money Calm

Compare car finance loans

Let’s face it, car finance loans can be confusing. With so many companies offering such a huge range of packages to pick from, it’s hard to tell which the best solution is for you – especially considering how large a purchase a new car is.

That’s where MoneySuperMarket comes in: we search for suitable car loans using a wide range of partners, and then our Eligibility Checker shows your chance of being accepted, as well as the guaranteed rate, so you can weigh up the facts and decide which deal suits you best.

car finance illustration

Car finance loans explained

There are quite a few options when it comes to financing a car, but there are three main choices people tend to take, especially when they don’t have the cash to buy outright:

person icon

Personal loans

Perhaps the simplest option, this involves taking out a personal loan from a third-party provider and using it to buy your car. You can get loans through MSM

car icon

Hire purchase

This involves an up-front deposit, usually 10% of the whole loan, followed by monthly payments with interest on top. You will own your car at the end of the loan term

policy icon

Personal contract purchase

A more complex arrangement, this has lower monthly payments because you only pay what the lender thinks the car will lose in value. You have the option to buy the car outright

You can find out more about each of these options in our guide to car finance loans

Car finance with a high credit score

A high credit score will normally open the door to a wider range of personal loan options, with more favourable rates of interest. 

Once you’ve given us a few details and yourself and your financial history, we will search the market, and show you loans with the cheapest rates available to you, as well as any which come with special features.

When you see the one you like best, you’ll be asked to apply with the provider – and you could have the money you need in days.

car finance credit illustration

Car loans with a bad credit score

Don’t worry if your credit rating isn’t as high as you want it to be – there are still options available for buying a car with bad credit, whether you’ve had financial difficulties in the past, or you’re just a bit too young to have built up your score. These include:

people icon

Guarantor loans

Where a friend or family member guarantees the loan will be repaid

lock icon

Secured loans

Which will let you offer up your home as collateral for the loan

How to compare car loans with MoneySuperMarket

Find the right car loan for you – and see which rates you’ll be guaranteed to get

Clock icon

It doesn’t take long

Tell us a little about yourself, your finances
and the loan you want

search icon

We’ll browse the market

We’ll search through car loans from a wide
range of lenders on the market

car purchase icon

Compare loans

You’ll be able to sort car loans by the overall
cost and the likelihood you’ll be accepted

How much will a car loan cost?

While MoneySuperMarket can’t change how much the car costs, we can help bring your overheads down in other ways. There are three main factors that affect the cost of a car loan:

  • one icon

    The interest

    This is essentially how much the loan will cost. The annual percentage rate (APR) is added to the value of the loan and charged in monthly instalments as you make repayments. The rate you’re offered will depend heavily on your credit score

  • two icon

    Your credit history

    Your credit score describes your financial history, and lenders use it to decide whether they’ll give you the loan, how much they’ll lend to you and how much the loan will cost. Worse credit may mean a more expensive loan

  • three icon

    Loan duration

    The longer the term, the smaller each monthly repayment will be – as they’re being spread over a long time. However, you’ll probably end up paying more interest with a longer loan, and a shorter term is likely to cost you less overall

  • four icon

    Fees and charges

    Providers may also charge additional fees if you decide you want to pay the loan back early, or if you begin to make late repayments. Arrangement fees are also possible, but they’re not a common addition

  • five icon

    Loan calculator

    The MoneySuperMarket car loan calculator is a good way to get a rough idea of how much your loan will cost in total. It factors in the APR and the length of the term, and works out the total you’ll end up repaying

See the loan rates you are guaranteed to get

Our eligibility checker shows you the loan rates you’re guaranteed, helping you protect your credit score and apply in confidence.

Accurate results set image

Accurate results

We use a range of factors to find the rates
you’re most likely to be approved for,
including your employment status and credit history

Apply with confidence image

Apply with confidence

You’ll see your eligibility before you apply, so
you can be confident you won’t be turned
down – protecting your credit rating

Guaranteed rates image

Guaranteed rates

You’ll also see which rates are guaranteed,
so you know what you’re getting and that
there aren’t any nasty surprises down the line

We compare offers from a wide range of lenders from across the market

We work with over 30 loan providers including most of the big brands to help you borrow the money you need.

company logo for Santandercompany logo for Virgin moneycompany logo for Hitachicompany logo for Zopacompany logo for msbankcompany logo for Admiralcompany logo for Tesco bank

You generally have to be over 18 to get a car loan, and lenders will often have their own specific requirements. You can find out more by looking at their website or contacting them directly, by phone, email, or post.

To apply for a loan you’ll need your address, contact details, details about your incomings, expenditures and employment. You’ll also need to mention how much you want to borrow, and for how long.

This depends on the lender. Some loan providers will charge you extra fees if you start making higher repayments than have been agreed, but others may allow it.

A secured loan is a loan you can take out that’s tied to an asset of yours as security. For example a mortgage is a type of secured loan, and the asset would be the house you take the mortgage out on – when you repay the loan the house is yours, but if you don’t repay then the lender could seize your house. These are uncommon for car loans.

An unsecured loan isn’t tied to any collateral, and as a result you normally need at least a fair credit score to qualify. There is also often a maximum amount you’ll be allowed to borrow.

A soft-search or soft-application is a way of finding out where you stand in terms of getting a loan without leaving a mark on your credit report. It’s a useful way of finding a loan you’ll be eligible for without harming your chances of being accepted. MoneySuperMarket’s loan Eligibility Checker uses a soft search.

Missing repayments will have several negative effects. It will harm your credit score, and could result in a County Court Judgement. Any assets secured against the loan could eventually be repossessed.

It will almost certainly make borrowing harder and more expensive in the future.

APR, or your Annual Percentage Rate, is the interest rate at which you pay back money you’ve borrowed. It takes into account the actual interest rate you pay, plus any other fees or charges involved in the deal, to give you a more complete picture of what you loan will cost.

When you see a rate advertised as the representative APR, this means the lender is required to offer this rate to at least 51% of applicants – however it doesn’t mean you’re guaranteed to receive this interest rate yourself.

MoneySuperMarket gives you lots of clever ways to save a lot, by doing very little.

  • Take control of your credit score by checking and improving it for free with Credit Monitor
  • Never overpay again with Energy Monitor, our energy monitoring service
  • Over 50 ways to Get Money Calm

So how do we make our money? In a nutshell, when you use us to buy a product, we get a reward from the company you’re buying from.

But you might have other questions. Do we provide access to all the companies operating in a given market? Do we have commercial relationships or ownership ties that might make us feature one company above another?

We commit to providing you with clear and informative answers on all points such as this, so we have gathered the relevant information on this page.