Calculate your car finance options with our HP and PCP calculators
Calculate NowCompare Hire Purchase (HP) and Personal Contract Purchase (PCP) financing options for your next vehicle
Your finance calculation results will appear here after clicking "Calculate".
| Month | Payment Date | Payment Amount | Principal | Interest | Remaining Balance |
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| Month | Payment Date | Payment Amount | Principal | Interest | Remaining Balance |
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HP (Hire Purchase) allows you to pay for the car in monthly installments and own it at the end of the term. PCP (Personal Contract Purchase) offers lower monthly payments but includes a balloon payment at the end if you wish to own the car, or you can return it.
The balloon payment is typically calculated as a percentage of the car's initial value, representing the predicted future value of the car at the end of the finance term. In our calculator, we use a standard 20% of the car price as the balloon payment.
Our calculator uses a standard interest rate of 5% for both HP and PCP calculations. This is an average rate, but actual rates may vary based on your credit score and the lender's terms.
Generally, finance terms are fixed at the beginning of the agreement. However, some lenders may allow you to refinance or adjust the term under certain circumstances, often with associated fees.
This calculator provides estimates based on standard formulas and assumptions. For precise figures tailored to your financial situation, we recommend consulting with a financial advisor or your chosen lender.