How to use this calculator
Enter the vehicle price, your deposit, the term in months and the APR you have been offered (or want to stress-test). The tool shows monthly payment, total repayable, total interest and a simple principal versus interest split. Adjust sliders or type exact figures — both stay in sync. This page is written for UK buyers comparing regulated motor finance and personal loans; it does not replace your lender’s illustration or pre-contract credit information.
What each field means
Vehicle price is the agreed cash price of the car before finance. If you are including a manufacturer deposit contribution, use the net price you will actually finance after that contribution is applied (your order form should show the breakdown).
Deposit is any upfront payment that reduces the amount borrowed. A larger deposit usually lowers the monthly payment and total interest, all else equal — our guide to lowering your payment walks through the trade-offs.
Term is how long you spread repayments. Longer terms often reduce the monthly amount but increase total interest. Shorter terms do the opposite. Always check whether your lender allows overpayments without penalty if you plan to clear the loan early.
APR (Annual Percentage Rate) is the standardised measure for comparing credit in the UK. Use the rate on your personalised offer, not only the representative rate from an advert — see UK car finance rates explained for the 51% rule and risk-based pricing.
PCP, hire purchase and personal loan tabs
The three tabs switch illustrative default APRs typical of different product types. They do not change the legal nature of the agreement you sign on the forecourt. Real PCP includes an optional final payment, mileage limits and condition charges; this calculator uses a single loan-style repayment path so you can compare interest cost on the amount financed. For product choice, read PCP vs hire purchase and the overview how UK car finance works. A personal loan may let you act as a cash buyer; compare channels in bank loan vs dealer finance.
Settlement figures and “how much to clear the finance”
Many people search for a car finance settlement calculator. Lenders calculate settlement day-by-day, including any permitted early settlement fees. You can use this tool to model “if I borrow the settlement amount for N months at APR X, what would I pay?” — but you must plug in the written settlement quote from your finance company, not a guess. Our guide ending car finance early covers settlement, voluntary termination and refinance links.
Credit file, self-employed income and used cars
The calculator does not see your income or credit score. If you are worried about acceptance or pricing, read credit score and car finance and our guide on car finance with adverse credit in the UK. Buying a used car on finance follows the same APR logic; lenders may shorten the maximum term or adjust rates for older vehicles.
Related guides
- How UK car finance works — products and paperwork
- How to negotiate car finance — price, APR and fees
- Common car finance mistakes — before you sign
- True cost of running a car — beyond the monthly payment
- Car finance glossary — key terms in one place
Educational estimates only — not a quotation or advice. See our disclaimer.