PetrolCalculator

Finance calculator

HP Car Finance Calculator

Estimate Hire Purchase monthly payments and borrowing cost from the price, deposit, APR and term you enter.

Estimate finance payments

Enter price, deposit, APR and term to estimate repayment finance.

What your result means

This Hire Purchase estimate uses a standard amortising repayment model: a deposit reduces the amount financed and no PCP-style final payment is assumed.

Worked example

Using the same £20,000 price, £2,000 deposit, 6% APR and 48 months:

Monthly payment
£422.73
Total paid including deposit
£22,291.07

Actual agreements may calculate interest or fees differently.

Formula

Vehicle price−Deposit\text{Vehicle price}-\text{Deposit}

Assumptions and limitations

  • Results are estimates based on the values entered. Actual finance agreements may include fees, different interest calculations and other terms.
  • No final balloon, optional extras, early settlement or missed-payment charges are included.

Helpful questions

Is a final payment included?

No. Compare with PCP finance if you need to model a final payment.

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