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Car Finance Calculator

See how much car finance will cost you

  • Compare PCP and HP costs with our free online calculator

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Calculate the cost of PCP and HP car finance

Our handy car finance calculator can help you work out and compare how much a car will cost you with different types of car finance – from personal contract purchase to hire purchase and car loans.

Simply answer a few questions about your borrowing needs and our calculator will show you how much it’s going to cost. 

  • Compare monthly costs for different car finance options 

  • Quick and easy to use  

  • See which finance option is most suitable for you 

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How to use the car finance calculator

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

  • Finance information

    Enter the details of how much you want to borrow over what time frame, your cash deposit and information about the car you want to buy (if you know already).

  • 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.

  • Car loan option

    If you’re buying from a private seller instead of a dealership some car finance options may not be available to you. But you could consider a personal loan.

What’s the cheapest car finance option?

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

    Typically you’ll put down a deposit and borrow towards part of the remaining value of the car - you won’t buy the vehicle outright – but this means monthly repayments are lower. At the end of the contract you’ll have the option to make a large final balloon payment to keep the car or you can return it and walk away - or take out another PCP for a new car. Can work well for more expensive cars. Mileage restrictions usually apply.

  • Hire purchase (HP)

    You’ll pay a deposit (usually 10%) and then make monthly payments to the car finance company. As you’re paying off the full value of the car monthly repayments can look relatively high.  But once you’ve paid your last instalment plus any ‘option to purchase’ fee on top you will own the car outright. There are not usually any restrictions on your mileage during the hire purchase contract.

  • Car loan

    In some cases an unsecured personal loan can be a suitable option for your car purchase. This may work best for the purchase of used cars and those from private sellers – where dealership finance is not an option. When you use a car loan to pay you’ll own the car outright and you’ll pay back the cost in monthly repayments to your loan provider. There are no extra fees and charges to pay on top of the loan.

Can I get car finance with bad credit?

The best car finance and car loan rates are usually reserved for borrowers with high credit scores. But even if you’ve had debt problems in the past and your credit score is less than perfect you should still be able to get a car finance deal to suit you.

There are specialist lenders who can help – offering hire purchase and PCP deals to suit your needs. You may also find loans for bad credit – although you should expect to pay higher interest rates to borrow. You may also be asked to put down a bigger deposit and pay higher rates on car finance options. Use our free tool to check your credit score.

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Calculate car finance costs 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.