If you have no interest in owning a car at the end of a finance agreement, you may instead want to explore personal car leasing (PCH). If you’re looking at financing a car with the view to own the car or have the option to buy the car at the end of the agreement, the most popular options are PCP, HP or a personal loan. There are a couple of main car financing options.

There’s a lot to consider when you’re buying a car and unless you’re buying a car with cash, one of the biggest choices to make is which of the available car finance options to choose from. What are the different types of car finance? Reducing the length of the loan will increase your monthly repayments but lower the total amount you repay over the course of the finance agreement. Once you’ve entered all of the required details, we will calculate your monthly repayments, the total amount you’re borrowing and the total amount repayable, including the interest. Where you are calculating the cost of a PCP agreement, you will also need to enter the amount of the balloon payment, which is also known as the GMFV (Guaranteed Minimum Future Value) or option to purchase fee. If you are taking out a PCP or HP agreement, you will need to enter your deposit, including any dealer contribution. Regardless of the type of finance you choose, you will need to select how much you want to borrow, select the term of the loan and the APR. Our car finance calculator allows you to choose from any of these options to see what your repayment plan would look like. There are various ways to finance a car, with the most popular options being PCP, HP, or taking out a personal loan.

Monthly finance calculator