Car Finance Calculator
Compare the cost of financing a car in the UK. See monthly payments, total cost and interest for PCP, HP and personal loan options to find the best deal.
PCP Results
With a car price of £20,000, a £2,000 deposit and a £7,000 balloon payment at the end, your 48-month PCP deal at 6.9% APR would cost £303.15 per month. The total amount payable including deposit, monthly payments and balloon is £23,551, of which £3,551 is interest. Your annual mileage limit is 10,000 miles — exceeding this may incur excess mileage charges.
Payment breakdown
At the end of your PCP deal
After 48 months you have three options:
1. Hand the car back — Return the car and walk away with nothing more to pay (subject to fair condition and mileage limits).
2. Pay the balloon to own it — Pay the £7,000 Guaranteed Minimum Future Value (GMFV) to take full ownership of the car.
3. Part-exchange — If the car is worth more than the GMFV, use the equity as a deposit on a new PCP deal.