Compare a car, van or motorbike finance estimate using deposit, APR, term, fees and an optional final payment.
For HP or a bank-loan style comparison, set the final payment to zero. For a PCP-style estimate, enter the optional final payment or balloon. The calculator discounts that final payment back into the monthly-payment formula.
Do not stop at the monthly payment. Compare deposit, total paid, final payment, mileage or condition limits, ownership at the end and whether you could keep the vehicle if circumstances changed.
This is a planning estimate, not a finance quote. Real vehicle finance can include dealer fees, option-to-purchase fees, early settlement rules, mileage charges, condition charges and credit checks.
Vehicle finance can look cheap when the monthly payment is separated from the deposit, balloon payment, mileage terms, fees and running costs. The useful question is not only whether the payment fits this month. It is whether the whole deal still fits after insurance, fuel, servicing, tyres, tax and likely repairs.
A PCP-style quote can show a lower monthly payment than hire purchase because part of the car price is pushed into the optional final payment. That does not make the car cheaper automatically. It changes when and how the cost is paid, and it may affect what happens if you keep, return or part-exchange the car.
Check the cash price, deposit, APR, term, final payment, mileage allowance and any fees. A bank loan comparison should use the same car price and deposit assumptions, otherwise the monthly payments are not comparing like with like.
Read the Vehicle Finance Guide, then use the Vehicle Finance Worksheet to record the quote, running costs and questions to ask before signing.
Compare estimated vehicle finance payments for hire purchase, PCP-style balloon payments and bank loan-style borrowing. The useful part is not just the first answer; it is checking whether the answer still makes sense when the uncertain number changes.