Calculate your monthly car finance payments. Enter the car price, deposit, APR, and loan term to see exactly what you'll pay.
13.3% of car price
Monthly Payment
£316.76
per month
Total Repayable
£17,204.39
inc. deposit
Total Interest
£2,204.39
cost of borrowing
APR (Annual Percentage Rate) is the total cost of borrowing per year, including interest and fees. Always compare APR (not just the monthly payment) when comparing finance deals.
A larger deposit reduces the amount you borrow, which means lower monthly payments and less total interest paid. Even a 10% deposit can save hundreds over the loan term.
A longer term means smaller monthly payments but far more interest overall. A shorter term costs more per month but saves significantly in total interest paid.
Dealer 0% finance sounds free, but the car price is often higher to compensate. Compare the total cost of a 0% deal against a discounted cash price before deciding.
PCP (Personal Contract Purchase) has lower monthly payments with a large final 'balloon' payment. HP (Hire Purchase) costs more monthly but you own the car outright at the end.
Your credit score affects the interest rate you're offered. Checking and improving it before applying can get you a significantly lower APR and reduce your total cost.
Calculate monthly car finance payments, total interest, and the full cost of the loan. Enter the car price, deposit, APR, and loan term to see a full breakdown.
£15,000 car, £3,000 deposit, 9.9% APR, 48 months
Monthly: approx £300 | Total cost: approx £17,400
£25,000 car, £5,000 deposit, 6.9% APR, 60 months
Monthly: approx £396 | Total cost: approx £28,760
£8,000 car, £1,000 deposit, 12% APR, 36 months
Monthly: approx £231 | Total cost: approx £9,316
Monthly payment on £10,000 at 8% APR over 36 months
Approx £313/month — total £11,268 (£1,268 in interest)
Over 90% of new cars in the UK are now bought on finance. Personal Contract Purchase (PCP) — where you pay a deposit, monthly instalments, and an optional final 'balloon payment' to own the car — became the dominant form of car finance in the 2010s, largely replacing Hire Purchase (HP) and outright cash purchases.
The estimate uses the car price, deposit, APR, and loan term entered to calculate an amortising payment and total repayment. It may not include arrangement fees, optional extras, insurance, maintenance, taxes, a final balloon payment, or dealer-specific charges. Compare the calculator’s assumptions with the lender’s written quote before signing.
No. Extending the term normally reduces each payment but increases the number of months interest is charged, so the total repayment can be higher. Compare deposit, monthly instalments, fees, final payment, and total amount payable together. A payment should also fit a budget that leaves room for fuel, servicing, insurance, and unexpected repairs.
The interest rate describes the cost of borrowing, while APR is intended to represent a broader annual cost and may include certain mandatory fees. Lenders can present finance structures differently, so use the APR and total amount payable from the same quote. For PCP, include the optional final payment when comparing the cost of ownership.
Enter each offer using the same vehicle price, deposit, term, and treatment of fees, then compare the total amount payable rather than the monthly payment alone. Include any balloon or optional final payment and check mileage or condition conditions for conditional products. Use the lender’s written quote for the final decision because a calculator cannot capture every contract term.