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Car Finance Calculator

See how much your car finance deal will cost you

  • Compare PCP and HP costs with our free calculator

  • Help decide which car finance option is best for you

  • See how much your monthly payments would be

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How do I use the MoneySuperMarket car-finance calculator?

Here’s our step-by-step guide to using the car-finance calculator:

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    Tell us your circumstances

    Let us know how much you want to borrow and over what time frame. We'd also like to know your cash deposit and information about the car you want to buy (if you know already). 

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    Calculate and compare

    The calculator will show you comparison costs for personal contract purchase plans and hire purchase - based on an assumed APR - so you can see which might suit you better.

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    Pick a deal that suits you

    Found a car finance deal that suits your needs and your budget? That's great news. When you're ready, click through to confirm your application and you're good to go

What information do I need to provide? 

The car-finance calculator is straightforward to use. You just need to answer a few quick questions, such as: 

  • Where you're buying the car

    Let us know whether it’s from a dealership, a private seller or if you’re not yet sure right now

  • How much you have to spend

    Tell us the value of your potential purchase, along with how much of a deposit you’d like to pay 

  • Monthly budget & deal term

    Tell us how much you can afford to repay each month and how long you’d like the car finance scheme to last  

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    Your expected mileage

    Car finance can be capped for annual mileage. It’s a factor when considering wear and tear of a new car, too 

Which types of car finance can be calculated? 

Hire Purchase: The calculator will work out your regular monthly payments for the entire term of the deal. With hire purchase once the final payment has been made, you'll own the car outright.

Personal Contract Purchase: Your monthly payments will cover the loss of value of the vehicle over the length of the contract. You'll also see a figure for a final ‘balloon’ payment to keep the vehicle.


Is PCP or HP a better car finance option for me?

Which car finance option will be cheapest for you will depend on a range of factors. You should also consider what you want from the deal and vehicle ownership as the cheapest route may not always be the most suitable for your needs.

  • Personal contract purchase (PCP)

    PCP may suit you if the car you're eyeing is more expensive than average, or you're planning to change your car every few years. Typically PCP requires a smaller deposit too, which is handy if you don't have a big lump sum to hand.

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    Hire purchase (HP)

    Hire purchase is likely your best bet if you want to keep the car you're looking to finance. Because there are no mileage limits, HP could also be apt if you're a heavy car-user. And unlike PCP, you can use HP to buy a used car too.

Calculate the cost of HP and PCP deals with MoneySuperMarket 

We’re here to help make it easy to find the right car finance deal for you – and our online calculator is a great place to start.

  • Provide some information

    Let us know the value of the car you want to finance, how much deposit you have and how long you want the deal to last 

  • We’ll crunch the numbers

    We’ll make calculations based on the figures you have given us to work out a monthly repayment figure for both PCP and HP 

  • Edit details to suit 

    You can change the deposit amount, car’s value and length of the deal to see how it affects the amount you’ll pay for car finance 

An Annual Percentage Rate (APR) is the interest rate at which you pay back money you’ve borrowed. It takes into account the actual interest rate you pay, plus any other fees or charges involved in the deal.  

In the case of car finance, you’re borrowing the vehicle and your monthly repayments go towards paying off its cost and the added interest (APR).  

When you see a rate advertised as the representative APR, the lender is required to offer this rate to at least 51% of applicants, but it doesn’t mean you’re guaranteed to receive this interest rate yourself. 

The best way to find a good APR for car finance in the UK is to shop around and compare options before you commit. An APR of between 7% and 12% could be considered competitive, but it greatly depends on your own credit status and current market conditions. 

The cheapest way to finance a car depends on a few factors, including whether you want to own the vehicle or not. For example, with like-for-like cars, you could save money by leasing (PCH), but you’d have to return the car at the end of the deal.

In contrast, with HP or a car loan you will make bigger payments but get to own the car. Alternatively, PCP allows you to make lower monthly payments than with HP, but keeps the option of buying the car at the end of the deal open. 

Yes, car finance is likely to be more expensive with bad credit because having a bad credit score pushes up the cost of borrowing. To get cheaper car finance it’s worth keeping on top of your credit rating and seeing how you can improve it

As long as it's over the dealer's minimum required amount, how much deposit you put down on a car finance deal is largely up to you. The more deposit you put down, the cheaper the monthly repayments or the less interest you pay overall. 

There’s no specific credit score that is needed for car finance because each lender will have its own criteria of whether to approve an application or not.

It’s always worthwhile making sure your credit score is as high as it can be. You can check it for free with our Credit Monitor. 

You may be eligible for a car-finance deal if you are aged 18 or over and a UK resident. Checks will be made on your affordability and it’s worth checking specific terms and conditions before you apply.

While no-one can predict the future, it’s important that you feel confident you can afford the finance deal you choose because there may be penalty clauses if you have to return the car before the end of the deal. 


You work hard to earn your money, and we don’t think you should waste a penny of it paying over the odds on your household bills. That’s why at MoneySuperMarket, we’re on a mission to save Britain money.

  • Whip your credit score into shape with Credit Monitor

  • Super save over and over again with Energy Monitor

  • There are always more ways to save with MoneySuperMarket 

So how do we make our money? In a nutshell, when you use us to buy something, we get a reward from the company you’re buying from.

You might be wondering if we work with all the companies in the market, or if our commercial relationships with our partners might make us feature one company above another. We’ve got nothing to hide, and we want to give you clear answers when it comes to questions like these, so we’ve pulled together everything you need to know on this page.

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