Car Finance Calculator
A car showroom will always lead with the monthly payment, because it's the smallest number in the deal. This calculator shows you the other two that matter just as much: what the car costs you in total, and what you actually own when the agreement ends.
The deal you've been offered
You spread the whole price over the term and own the car outright once the last payment is made.
What it costs
- Monthly payment
- £779.12for 3 years
- Total you will pay
- £31,048
- Interest charged
- £3,048on £25,000 borrowed
The same car, four ways to pay
Based on the figures above. The last column is the one the monthly payment hides.
| Way of paying | Per month | Total cost | What you own at the end |
|---|---|---|---|
| Cash | — | £28,000 | Yours outright, straight away |
| Hire purchase (HP) (your choice) | £779.12 | £31,048 | Yours outright at the end |
| PCP | £481.42 | £20,331 £32,331 to own | Hand it back, or pay the final payment to own it |
| Lease (PCH) | £300.00 | £13,800 | You hand it back and own nothing |
Paying cash always costs least, because you're not borrowing. That doesn't automatically make it the right answer: money spent on a car is money not in your emergency fund. The gap between the cash row and your row is what the convenience is costing you.
Show the year-by-year breakdown
| Year | Off the balance | Interest | Still owed |
|---|---|---|---|
| Year 1 | £7,708 | £1,641 | £17,292 |
| Year 2 | £8,317 | £1,032 | £8,974 |
| Year 3 | £8,974 | £375 | £0 |
🔒 Calculated on your device; nothing is stored or sent. Figures are an illustration, not a quote: real agreements also carry arrangement fees, option-to-purchase fees and mileage charges that vary by lender.