Car Finance Calculator

Compare HP, PCP, and a personal loan side by side

Car price: £8,000

Deposit: £1,000

Term

APR: 9%

Typical used car finance runs 7–15% APR depending on credit profile.

PCP balloon (GMFV) assumption: 50% of price

Real PCP balloon values are set by the lender based on the specific car and mileage — this is an adjustable illustration, not a quote.

Estimated comparison

Hire Purchase (HP)

Monthly payment£174

Total cost£9,361

You own the car outright at the end.

PCP

Monthly payment£75

Balloon payment (if keeping car)£4,000

Total cost if balloon paid£8,583

Lower monthly payments; return the car instead of paying the balloon if you prefer.

Personal Loan

Monthly payment£174

Total cost£9,361

You own the car from day one; no mileage restrictions.

Illustrative only — not a loan offer or quote. Actual APR, balloon values, and eligibility depend on your credit profile and the specific lender. See our car finance guide for how HP, PCP, and personal loans compare.