Finance Calculator
PCP vs HP Calculator
Compare Personal Contract Purchase (PCP) and Hire Purchase (HP) side by side to see which finance option is right for you.
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Your comparison
Based on a £30,000 car with a £3,000 deposit over 48 months at 9.9% APR.
PCP Finance
Personal Contract Purchase
Your estimated monthly payment
£464/month
9.9% APR Representative
Optional final
£12,840
Pay at the end
or return the car
or return the car
Cash price£30,000
Deposit£3,000 (10%)
Amount of credit£27,000
Term48 months
Annual mileage10,000 miles
Monthly payments47 × £464.38
Optional final payment£12,840.00
Total amount payable£38,130.46
Includes interest of £8,130.46
HP Finance
Hire Purchase
Your estimated monthly payment
£683/month
9.9% APR Representative
No final payment
You own the car outright
Cash price£30,000
Deposit£3,000 (10%)
Amount of credit£27,000
Term48 months
Annual mileage10,000 miles
Monthly payments48 × £683.49
Final payment£0.00
Total amount payable£35,807.70
Includes interest of £5,807.70
Key differences at a glance
Ownership
Who owns the car at the end?
You have options: return it, part-exchange or pay the final payment to own it
You own the car outright once all payments are made
Monthly payments
How much are the payments?
Usually lower monthly payments
Usually higher monthly payments
Final payment
Is there a balloon payment?
Yes, optional final payment at the end
No, no final payment
Flexibility
What are your options?
More flexible — return, part-exchange or pay final payment
Less flexible — you own the car
Best for
Who is it best suited to?
Lower monthly payments, changing cars frequently
Longer-term ownership, keeping the car
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