Just how grand is your outlook in life? Maybe you’re a born achiever always aiming high, whether as a student, a professional, or an entrepreneur. Perhaps you often seek marvellous adventures in your travels, be it hiking up a mountain or exploring open waters. Or, this may be telling in the very home you live in. Wide spaces and multiple rooms to fill with the classiest furnishings—as if you had a blank canvas for your art.
The car you own comes into this, too. Just imagine: you’re in the driver’s seat of that SUV or luxury car, coasting through big cities and the vast countryside. If that vision speaks to you, you can buy yourself a grand car with a £40,000 car loan. Why a car loan, you ask? Well, you’ll gain great benefits such as low interest and fast approval. You’ll also gain flexibility to spend on other pursuits, while only fulfilling a monthly repayment on the car. If you ask us, those are all wins for just about any borrower!
Don’t have much experience with car loans? Don’t worry; our loans guide below may be just what you need to set you on your way.
Terms from 1 to 10 years. Representative example: 5 year £10,000 loan with comparison rates from 2.8% to 49.9% APR would cost between £10,728 and £27,321, including fees. The interest can vary between £728 and £17,321.
Repayments on a £40,000 car loan
Your monthly loan repayment amount can be different for each lender. The interest rate on your car loan is based on things like your credit score and the length of your loan. The longer the loan term, the smaller the monthly payment, but it costs more money in total. Additionally, different lenders have varying administration fees, which will impact how much your loan costs in total. Make sure you compare all these factors before choosing a lender to get the best deal for you.
Indicative costs when you borrow £40,000 over 60 months:
- Origination or administration fee: 0% up to 8% of the loan amount
- Interest rate (APR): 2.7% to 29.99%
- Monthly repayments: £713 and £1,294
- Total cost on a £40,000 car loan: Between £42,806 and £77,633
From the example above, you can see that the interest rate greatly impacts how much the loan will cost over time.
£40,000 Car loan calculator
Repayment Period
12 months
to 60 months
Loan Amounts
£2,000
to £40,000
Carmoola's rates start as low as 6.9% for loans of between £2k - 40k over one to five years. Representative APR: 14.8%. Buy your dream car in minutes with Carmoola's virtual card, with a £0 minimum deposit. Carmoola is an entirely digital, app-based lender. No sales calls or paperwork! Take control and manage your loan in-app.
Borrowing £10,000 over 60 months with a representative APR of 14.8%, an annual interest rate of 14.8% fixed and a deposit of £0.00, the amount payable would be £250 per month, with a total cost of credit of £5,880 and a total amount payable of £13,501 including a one-off Option to Purchase fee of £1. We offer hire purchase loans between £2,000 - £40,000 at a personalised APR between 6.9% and 24.9%
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View HSBC's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View Lending Works's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View Likely Loans's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View Lloyds Bank's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View Marks & Spencer Bank's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View Metro Bank's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View NatWest's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View Nationwide's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View Post Office Money's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View RateSetter's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View RBS's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View Sainsbury's Bank's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View Santander's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View Tesco Bank's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View TSB's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View Virgin Money's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
View Zopa's website for more details on their car loans
The rate youre offered may differ from the Representative APR shown and will be based on your personal circumstances, the loan amount and the repayment term. All loans are subject to your financial circumstances and borrowing history at the time you apply. Eligibility and conditions apply. You must be a UK resident to apply.
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EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£2,000
to £40,000
Carmoola's rates start as low as 6.9% for loans of between £2k - 40k over one to five years. Representative APR: 14.8%. Buy your dream car in minutes with Carmoola's virtual card, with a £0 minimum deposit. Carmoola is an entirely digital, app-based lender. No sales calls or paperwork! Take control and manage your loan in-app.
Borrowing £10,000 over 60 months with a representative APR of 14.8%, an annual interest rate of 14.8% fixed and a deposit of £0.00, the amount payable would be £250 per month, with a total cost of credit of £5,880 and a total amount payable of £13,501 including a one-off Option to Purchase fee of £1. We offer hire purchase loans between £2,000 - £40,000 at a personalised APR between 6.9% and 24.9%
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Minimum and maximum loan periods vary between 1 month and 10 years. APR varies between 2.80% and 71.30% p.a. Total interest repayments vary between £435 and £1,019 over the life of the loan. *APR is based on an unsecured loan of R£15,000 for a term of 3 years. WARNING: This APR is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different APR. These rates can change without further notice. All rates quoted are per annum.