Car Finance Calculator UK 2025
Calculate and compare monthly payments for PCP, Hire Purchase, and a personal loan on the same car. See the true total cost of each option — including optional final payments and balloon payments — so you can choose the cheapest route.
PCP vs HP vs Personal Loan — which is right for you?
PCP gives the lowest monthly payments because you’re only financing the depreciation (car price minus the GFV balloon), not the full value. At the end you can hand back the car, pay the balloon and keep it, or use any equity as a deposit on a new PCP. You don’t own the car until the final payment, and mileage limits apply.
HP has higher monthly payments than PCP (you’re financing the full value minus deposit) but you own the car outright at the end with no balloon payment. Better if you want to keep the car long-term or do high mileage.
Personal loan is often the cheapest total cost — you own the car immediately, there’s no mileage restriction, and personal loan rates are often lower than dealer finance. Requires a good credit score and means the car is yours to sell or modify freely.
If you pay a deposit (even just £100) on a credit card and the car costs between £100 and £30,000, Section 75 of the Consumer Credit Act gives you equal liability claims against your credit card provider if the dealer fails to deliver or goes bust. This doesn’t apply to bank transfers or debit cards. PCP and HP also give you rights under the Consumer Credit Act including voluntary termination rights when you’ve paid 50% of the total amount payable.
