First-Time Driver Finance Guide
Getting your first car is exciting. Motoring.Today. helps you understand your options and get on the road with confidence.
Reviewed by the Motoring Today Editorial team · methodology in our editorial standards.
Last reviewed: July 2026
What you need to know
How first-time driver finance works
What lenders look at
How much can I afford?
Use our quick calculator to see your real monthly budget.
- Cash price
- £10,000
- Deposit (advance payment)
- £1,000
- Total amount of credit
- £9,000
- Duration of agreement
- 48 months
- Rate of interest (fixed)
- 9.5% p.a.
- Monthly repayment
- £226.01 × 48
- Total charge for credit (interest)
- £1,848.48
- Total amount payable
- £11,848.48
Motoring Today is a credit broker, not a lender. Motoring Today is a trading style of Motor Genius Group Ltd (FRN 960504), an appointed representative of The Compliance Guys Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN 941360). Finance is subject to status and approval; rates depend on your circumstances and the lender. Available to permanent UK residents aged 18+. Example figures only — not a quote.
What to expect 🚗
A clear, no-pressure way to see what you could afford before you buy.
Ready to see what you
could be approved for?
Check your eligibility in 60 seconds with no impact on your credit score.