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The vehicle’s purchase price is the biggest influencing factor on the cost of a car finance agreement. Interest is applied to the cash price, then the initial deposit is deducted, and the resulting balance is split into monthly instalments over the selected loan term.
The deposit you pay at the start of your finance loan will be subtracted from your overall balance. That means a larger deposit will result in lower monthly repayments, while a smaller deposit will mean higher monthly payments.
The length of your finance term will affect your monthly payment amount. Choose a longer term, and you’ll likely have smaller monthly repayments, although interest may be higher. A shorter term can mean better interest rates, but the monthly repayments will usually be bigger.
Car finance loans typically carry interest that’s added to the overall balance. This amount can be influenced by factors such as the term length and your credit history.
Terms & Conditions
For information on our regulated status and our credit broking services please see our Initial Disclosure Document (finance).
Finance is subject to status. Terms and conditions apply. You must be over 18 and a UK resident. The lender will conduct an affordability assessment and carry out a credit check. Please ensure you can afford the repayments before entering into a credit agreement.
Marshall Motor Group Ltd is a credit-broker not a lender. We may receive a finance commission from the lender for arranging finance for you. For further information on our commission arrangements see https://www.marshall.co.uk/fcds
