Simplicalcs

    PCP & HP car finance calculator

    £
    Enter a car price greater than zero.
    £
    Deposit must be less than the car price.
    £— (40%)

    Typical range: 25–60% of car price. Prestige brands, shorter terms, and lower agreed mileage tend to sit higher. Enter the exact figure from your finance quote for an accurate result.

    %
    Enter an APR greater than zero.
    mi/yr
    mi/yr
    p/mi

    Typically 3–10p per mile. Check your agreement — it will be stated clearly.

    Monthly payment
    £—
    Car price —
    Deposit —
    GMFV (final balloon payment) —
    Amount financed —
    Total monthly payments —
    GMFV (if you keep the car) —
    Total interest charged —
    Total cost of credit —
    ⚠ Estimated mileage overage charge
    —
    At the end of your agreement, you have three options
    🔄
    Hand the car back. Return it in good condition and within your agreed mileage and owe nothing more. This is the most common outcome for PCP customers.
    💰
    Use any equity as a deposit on your next car. If the car is worth more than the GMFV, that difference is yours. The dealer applies it to the next deal.
    🚗
    Pay the GMFV and keep the car. You pay — and the car is yours outright. Only worth doing if the car's market value exceeds the GMFV.
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    PCP (Personal Contract Purchase) splits your finance into three parts: an upfront deposit, fixed monthly payments, and a final optional balloon payment called the GMFV. Because you're only financing the car's depreciation — not its full value — monthly payments are lower than a traditional loan. HP (Hire Purchase) works differently: you borrow the full car price minus your deposit, pay it off in equal monthly instalments, and own the car outright at the end with no final payment required.