Car Loan Calculator
Calculate exact monthly payments and total cost for any car finance deal. Compare the real cost of PCP, hire purchase, and personal loans side by side.
PCP vs HP vs Personal Loan
HP (hire purchase): fixed monthly payments, you own the car at the end. PCP: lower monthly payments, large optional final 'balloon' payment, return or buy at end. Personal loan: you own the car immediately, often lower total cost but higher monthly outlay.
The True Cost of 0% Finance
Manufacturers offering 0% finance often charge a higher purchase price or restrict negotiation. Always compare the 0% financed price against negotiating a cash discount and using a personal loan. 0% is rarely as good as it appears.
APR vs Flat Rate Interest
APR (Annual Percentage Rate) represents the true cost including all charges — use this to compare deals. Flat rate interest is calculated on the initial amount and looks lower but doesn't account for the reducing balance. Always compare APR figures.
When to Seek Financial Advice
Calculator results provide estimates based on stated inputs and should not replace professional financial advice for significant decisions. Free, regulated financial guidance is available through MoneyHelper (moneyhelper.org.uk, 0800 011 3797) for general money queries. Regulated independent financial advisers (IFAs) — find one at unbiased.co.uk — provide personalised advice on mortgages, pensions, investments, and insurance. Advice fees are typically £150-350 per hour or a percentage of assets
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