Car Finance Calculator
Compare PCP, HP, and personal loan monthly costs side-by-side. Typical UK rates applied — adjust for your own APR.
Your Details
8.9% APR representative
9.9% APR representative
7.5% APR representative
Which is right for you?
| Feature | PCP | HP | Loan |
|---|---|---|---|
| Lowest monthly payment | — | — | |
| You own the car outright | — | ||
| Option to hand car back | — | — | |
| No mileage restrictions | — | ||
| Can sell car anytime | — | — | |
| Lowest total cost | — | — | |
| FCA regulated agreement |
For illustration only. Rates shown are typical UK market APRs (8.9% PCP, 9.9% HP, 7.5% personal loan). Your actual rate will depend on your credit score and the lender. Always check the total amount payable before signing any finance agreement. CarLook is not a credit broker.
PCP (Personal Contract Purchase) — Lower monthly payments because you're not paying off the full car value. At the end you can hand the car back, pay the balloon (GFV) to own it, or use any equity as a deposit on a new deal.
HP (Hire Purchase) — Higher monthly payments but you own the car outright at the end. No mileage limits. Simpler to understand.
Personal Loan — You own the car from day one. Often the cheapest total cost if you have a good credit score. No restrictions on mileage or modifications.
