Car Finance Calculator UK 2026

Compare PCP, HP and personal loan monthly payments and total cost. Find the cheapest way to finance your car in the UK.

PCP Monthly Payment
£0.00
over 48 months
Amount Financed
£0.00
Total to Own (inc. GFV)
£0.00
Total Interest
£0.00
Enter your car details above to compare finance options.
PCP vs HP vs Personal Loan · Full Comparison
Item PCP HP Personal Loan
Monthly Payment---
Total Paid---
Total Interest---
Own Outright?---
Cheapest badge marks the lowest total cost option.

Car Finance Monthly Payments · UK 2026 Reference

Estimated monthly PCP payments at common car prices. Based on 48-month term, 8.9% APR, 35% GFV balloon · for guidance only.

Car Price Deposit PCP Monthly HP Monthly Loan Monthly PCP Total Cost
£10,000£1,000~£131~£218~£209~£13,280
£15,000£2,000~£191~£327~£312~£19,930
£20,000£2,000~£270~£447~£426~£26,960
£25,000£3,000~£333~£549~£521~£32,984
£30,000£3,000~£402~£666~£631~£39,297
£40,000£5,000~£525~£870~£823~£51,000
£50,000£5,000~£666~£1,097~£1,038~£63,932

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Car Finance FAQs · 2026

What is the difference between PCP and HP?
PCP (Personal Contract Purchase) spreads payments over the term with a large optional final payment called the Guaranteed Future Value (GFV) or balloon payment. Monthly payments are lower because you are not repaying the full car value during the term. At the end you can pay the GFV to own the car, hand it back, or use any equity as a deposit on a new deal. HP (Hire Purchase) requires you to repay the full car value minus your deposit in equal monthly instalments · no balloon. Monthly payments are higher but you automatically own the car once the final payment is made, with no lump sum needed.
Is PCP or HP cheaper overall?
HP is almost always cheaper in total cost if you plan to keep the car. Because you repay the whole car value, total interest is lower and there is no large balloon to fund at the end. PCP has lower monthly payments but you pay interest on the GFV portion throughout the agreement · so total interest paid is usually higher. A personal loan from your bank can be cheaper still as personal loan APRs are often lower than dealer-arranged finance. Use the comparison table above to see the total cost of each option for your specific car and term.
Can I pay off car finance early?
Yes. Under the Consumer Credit Act you have a statutory right to settle a regulated HP or PCP agreement early at any time. You can request a settlement figure from your lender, which includes the remaining capital plus any interest to settlement date, minus a statutory rebate. Some lenders apply an early settlement fee but this is capped under FCA rules. Personal loans also carry early repayment rights, typically with an ERC of up to two months interest. Settling early saves you future interest but check the settlement figure first to ensure the saving outweighs any fees.

For informational purposes only · Not financial advice · Rates and figures are illustrative and based on representative APRs for 2026 · Always obtain a personalised quote from a regulated lender · Finance subject to status and credit check