Estimate your monthly payments on a used car, then check what you could be eligible for. No obligation.
Compare HP and PCP side by side
See the total cost of credit
No personal details needed
Enter the car price, your deposit and how long you'd like to pay over. Switch between HP and PCP to see how your monthly repayments change. It's free, you don't need to give any personal details, and it doesn't affect your credit score.
Up to £6,000 (50% of the vehicle price)
The rate you are offered depends on your circumstances and credit history.
£306.04
per month
Representative 19.8% APR.
This is an estimate only. The rate you're offered depends on your circumstances and credit history. Credit is subject to status.
Only take out car finance if you can comfortably afford the monthly payments.
Check EligibilityRepresentative 19.8% APR. No impact on your credit score. Our partner uses a soft search to give you a quote. If you proceed, a hard search will be conducted which may impact your credit score. We're partnered with Car Finance 24/7. As an Introducer Appointed Representative of Carfinance247 Limited (FCA FRN: 653019), we receive a commission if you purchase finance products through the link above. We do not provide advice or make recommendations.
Representative Example: Borrow £12,000 over 5 years with a £0 deposit. Representative 19.8% APR fixed rate. Monthly payment: £306.04. Option to purchase fee £10 payable. Total cost of credit: £6,372.40. Total amount repayable: £18,372.40.
Credit is subject to status.
Your monthly payment depends on a few things:
At a representative 19.8% APR, a £10,000 car over 60 months on HP could cost around £255 a month.
Each row is a car price and each column is how long you pay over. The figure shows the monthly payment on Hire Purchase with no deposit.
| Car price | 36 months | 48 months | 60 months |
|---|---|---|---|
| £5,000 | £181.27 | £147.40 | £127.52 |
| £10,000 | £362.54 | £294.81 | £255.03 |
| £15,000 | £543.81 | £442.21 | £382.55 |
| £20,000 | £725.08 | £589.61 | £510.07 |
| £25,000 | £906.35 | £737.02 | £637.59 |
Representative 19.8% APR. Based on Hire Purchase with a £0 deposit and a fixed rate. A £10 option-to-purchase fee is payable with the final payment. The rate you're offered depends on your circumstances. Credit is subject to status.
Paying over 60 months instead of 36 lowers the monthly payment on a £10,000 car from £362.54 to £255.03, but the total you pay rises from £13,061.44 to £15,311.80.
At a representative 19.8% APR, a budget of £250 a month over 60 months on HP could cover a car costing around £9,800, with no deposit.
Each row is a monthly budget and each column is how long you pay over. The figure shows the car price that budget could cover on Hire Purchase with no deposit, rounded down to the nearest £100.
| Monthly budget | 36 months | 48 months | 60 months |
|---|---|---|---|
| £100 | £2,700 | £3,300 | £3,900 |
| £150 | £4,100 | £5,000 | £5,800 |
| £200 | £5,500 | £6,700 | £7,800 |
| £250 | £6,800 | £8,400 | £9,800 |
| £300 | £8,200 | £10,100 | £11,700 |
| £350 | £9,600 | £11,800 | £13,700 |
| £400 | £11,000 | £13,500 | £15,600 |
| £500 | £13,700 | £16,900 | £19,600 |
Representative 19.8% APR. Based on Hire Purchase with a £0 deposit and a fixed rate. A £10 option-to-purchase fee is payable with the final payment. The rate you're offered depends on your circumstances. Credit is subject to status.
PCP could stretch a monthly budget further, because part of the cost moves to an optional final payment. Try it in the calculator's monthly budget mode.
With Hire Purchase (HP), you pay off the whole cost of the car over the agreement. Once the last payment and any option-to-purchase fee are paid, the car is yours.
With Personal Contract Purchase (PCP), part of the car's value is moved to an optional final payment at the end (sometimes called a balloon payment). This is why PCP monthly payments are often lower than HP on the same car, though the total you pay can be higher. At the end, you can usually pay the final payment and keep the car, hand it back, or part exchange it. Mileage and condition terms apply.
Not sure which suits you? Read our guide to PCP vs HP.
To apply for car finance, you usually need to be 18 or over.
Lenders look at your income, your outgoings and your credit history rather than a single score, and approval is never certain.
If you have a lower credit score, some lenders may still consider your application. See our bad credit car finance page for more.
Finance is subject to status.
Check your eligibility for HP and PCP options in minutes (Representative 19.8% APR), with no impact on your credit score. Our partner uses a soft search to give you a quote. If you proceed, a hard search will be conducted which may impact your credit score.
Check Your EligibilityOnce you have a rough monthly figure, these pages explain each option in more detail.
Often lower monthly payments, with an optional final payment at the end.
Spread the cost and own the car once the final payment is made.
How finance works on second-hand cars.
Options if your credit history isn't perfect.
Options that may let you spread the full cost, subject to status.
Options that may be available if you've had a CCJ or IVA, subject to status.
PCP vs HP Comparison
The key differences between PCP and HP, and how to decide which is right for you.
Read guideHow Does Car Finance Work?
A plain English guide to HP, PCP, and what to expect when you apply for car finance.
Read guideWhat Is a Good APR for Car Finance?
How APR works and what a reasonable rate could look like based on your circumstances.
Read guideIf you are already paying for a car on finance, make sure you are not overpaying on your car insurance too. Comparing quotes from multiple insurers is a quick way to check you are getting a competitive price.
Thinking of selling your car? Get a free valuation via our partnership with Motorway.
Common questions about our car finance calculator.
Yes. It's free to use and you don't need to give any personal details.
No. The calculator runs in your browser and doesn’t run any credit check. If you then check what you could be eligible for, our partner uses a soft search with no impact on your credit score. If you then choose to proceed with a full application, a hard credit search will be carried out which may impact your credit score.
It gives an estimate based on the figures you enter. The rate you’re offered depends on your credit history and circumstances, so your actual payments could be higher or lower.
At a representative 19.8% APR, a £10,000 car on HP with no deposit could cost around £255 a month over 60 months, or £363 a month over 36 months. Your rate depends on your circumstances, and credit is subject to status.
At a representative 19.8% APR, £250 a month over 60 months on HP could cover a car costing around £9,800, with no deposit. A deposit or a lower rate could increase this. Credit is subject to status.
APR is the yearly cost of borrowing, including interest and any fees you have to pay. A higher APR means higher monthly payments on the same car. You can change the APR in the calculator to see the difference.
Yes. Use the toggle to switch between them. PCP monthly payments are often lower than HP on the same car, because part of the cost is moved to an optional final payment. The total you pay can be higher.
Yes. Switch to 'I know my monthly budget' and enter how much you'd like to pay each month. The calculator shows the car price that budget could cover. It's an estimate only, and finance is subject to status.
Yes, you can use it whatever your credit history. Rates for people with lower credit scores are often higher, so your payments could be higher than the estimate. Finance is subject to status.
Yes. Our partner arranges finance on used cars.
No-deposit options may be available, subject to status.
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