Start with income and essential spending
Use regular income you can evidence and subtract housing, utilities, food, childcare, existing credit, subscriptions and other essential commitments. Leave a buffer for irregular bills and changes in circumstances.
Do not choose the maximum payment that fits on paper. A sustainable budget should remain manageable if fuel, insurance or household costs increase.
Include the full cost of the car
The finance payment is only one vehicle cost. Obtain an insurance estimate for the exact car and consider tax, fuel, servicing, tyres, MOT costs, parking and unexpected repairs.
- Monthly finance payment
- Insurance
- Vehicle tax
- Fuel or charging
- Servicing and MOT
- Tyres and repairs
- Parking or clean-air charges
Stress-test the agreement
Consider whether the payment would still be manageable after a temporary drop in overtime, a rent increase or an unexpected household expense. If the margin is too small, compare a lower-priced vehicle or larger deposit rather than relying only on a longer term.
The finance provider performs its own affordability assessment and may reach a different result. Website illustrations do not predict acceptance or the final terms.
