Car Financing Calculator
Calculate your monthly payment and plan your next vehicle purchase
Loan Parameters
Amortization (First 6 Months)
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | £292.39 | £213.39 | £79.00 | £11,786.61 |
| 2 | £292.39 | £214.79 | £77.60 | £11,571.82 |
| 3 | £292.39 | £216.21 | £76.18 | £11,355.61 |
| 4 | £292.39 | £217.63 | £74.76 | £11,137.97 |
| 5 | £292.39 | £219.07 | £73.32 | £10,918.91 |
| 6 | £292.39 | £220.51 | £71.88 | £10,698.40 |
Your Monthly Payment
£292.39
for 48 months
Loan Summary
Tips to Save
- • A larger down payment reduces total interest
- • Shorter terms mean less interest paid
- • Compare offers from multiple banks before deciding
How does car finance work in the UK?
Car finance in the UK is typically offered through PCP (Personal Contract Purchase), HP (Hire Purchase), or a personal loan, via banks, manufacturer finance (like Volkswagen Financial Services, Toyota Financial, etc.) or independent FCA-regulated lenders. Interest rates vary based on your credit history, the amount financed, and the term chosen.
This calculator helps you estimate your monthly payment to better plan your purchase. Remember that results are indicative and may vary depending on the specific conditions of each financial institution.
Not sure which finance product fits your situation? Our PCP vs HP vs personal loan guide explains the real cost, ownership, and exit options of each.