For our latest offers and updates first:


Variable Rate Car Finance (only available for loans over £25k)

We can finance new and used cars supplied through broombroom, any UK main dealer, and approved independent dealers.

Variable Rate Car Finance Calculator

  • info
    • Variable rate car finance calculator (for loans over £25k)
      - Fixed repayments of capital
      - Interest payments calculated daily and payable monthly
      - Savings compared to fixed rate deals when interest rates remain low
      - Very low penalty for early settlements
      - Additional capital may be paid off at any time to reduce interest
Total Price of Vehicle £  
Choose Your Deposit £  
Balance to be Financed £ minimum £25,000
Choose Term   months
Choose Mileage   per annum
Choose Final Payment    
Typical Base Rate (based on current libor rate)%
Estimated Final Payment £  
Total interest paid £  
Total Paid including deposit £ 295
 

The above quotation is a variable rate deal based on an assumed base rate linked to the London Interbank Offer Rate (LIBOR). Interest is calculated daily and is repayable monthly together with the fixed capital payment shown. The payment schedule shown is based on the current LIBOR rate. If interest rates change the monthly interest payable will also alter by the same rate. No matter how long the initial term, it is possible to settle the entire agreement early at any time after 12 months and only pay interest up to the date of settlement plus a 30 day interest penalty. This penalty is considerably lower than with most fixed rate deals where interest is usually front end loaded. This makes variable rate finance an ideal product for those wishing to change their cars more frequently or thinking their circumstances may change in the coming years. Lump sums can also be paid off at any time which will reduce the overall interest charges. This makes it an ideal product for those that receive occasional bonuses or dividends.

Title to the car passes to you once all the payments of capital and interest have been completed including any final payment. The loan is secured against the asset (in this case the car), unless other guarantees are required, in which case they will be specified before proceeding. The above option is a non regulated facility under the Consumer Credit Act and is specifically for applicants who do more than 2/3rds business mileage, limited companies, or high net worth individuals.
This quote is for guidance only and is valid for 7 days subject to availability, acceptance. E & O E. It is not an offer to enter into a legally binding contract. As part of the credit process a personal search will be carried out with a credit reference agency. Acceptance is subject to final credit approval which will be at our sole discretion, and to you completing all documents required in connection with this transaction. If you enter into an agreement after approval, a £295 document fee is payable to the finance company at the beginning of your contract. All requests are subject to acceptance by broombroom.com, availability, and price changes.