How is the monthly payment calculated?

We use the standard amortising loan formula, spreading the amount you’re borrowing (car price minus deposit, and minus the balloon payment for PCP) across your term at your agreed APR.

What is a balloon payment / GFV?

The Guaranteed Future Value (GFV) is the optional final payment on a PCP deal that lets you buy the car outright at the end of the agreement. If you don’t pay it, you simply hand the car back.

How much does it cost to settle early?

Use the Early Repayment tab: enter your current monthly payment, APR and months remaining to estimate your settlement figure. Lenders may add an early settlement fee on top, so always get an exact figure from your finance company.

Updated 6 April 2026

Car Finance Calculator · PCP & HP, Free UK

Calculate your monthly car finance payment for PCP or HP, plus total cost, total interest and early settlement figures.

✓ Free to use✓ PCP & HP✓ Early settlement estimate✓ Instant results

Car Finance Calculator

Enter your details below. Your result updates instantly

Car price (on the road)

Deposit

Annual APR

Term

Balloon payment (GFV)(optional final payment to own the car)

Monthly payment

£—

Enter your figures above to calculate

Monthly

£—

Weekly

£—

Daily

£—

Hourly

£—

This calculator provides estimates only. Actual payments depend on your lender's terms, lenders may also add an early settlement fee. Always check the full credit agreement before signing.

How to Use This Calculator

Choose PCP if you want lower monthly payments with the option to hand the car back or pay a balloon payment at the end. Choose HP if you want to own the car outright with no final lump sum. Switch to Early Repayment if you already have an agreement and want an estimated settlement figure. Results are estimates for guidance only, always check the exact figures in your credit agreement.

Frequently Asked Questions

With PCP (Personal Contract Purchase) you pay lower monthly amounts and a large optional balloon payment (GFV) at the end if you want to own the car. With HP (Hire Purchase) you pay off the full car price in equal instalments and own the car outright at the end, no balloon payment.