PCP Calculator
Calculate your PCP monthly payments with our free calculator. Adjust deposit, term, APR and final balloon payment to see total costs.
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PCP Calculator
Final payment: £6000.00 (30%)
PCP FAQs
What is a PCP (Personal Contract Purchase)?
PCP is a car finance product where you pay a deposit, fixed monthly payments over a term, and an optional final payment (balloon) to own the car at the end.
How is the final payment decided?
The final payment (balloon) is typically based on the expected value of the car at the end of the term. In this tool you can set it as a percentage of the car price.
Does a higher final payment reduce my monthly payments?
Yes. Increasing the final (balloon) payment reduces the financed amount repaid monthly, lowering monthly payments but leaving more to pay at the end if you purchase the car.
What APR should I use?
Use the APR quoted by your lender. If you’re estimating, try between 6% and 12% APR to see a range of outcomes.
What happens if I return the car at term end?
If you hand the car back, you do not pay the optional final payment, but additional charges may apply for excess mileage or damage per your contract.
Is the optional final payment guaranteed?
No. Some agreements provide a guaranteed minimum future value (GMFV). Otherwise, the actual market value may differ from the assumed final payment.
Can I pay off a PCP early?
Usually yes, but early settlement figures and potential fees apply. Check your agreement’s terms and request a settlement quote from your lender.
Does a larger deposit help?
Yes. A higher deposit reduces the amount to finance, lowering both monthly payments and total interest paid.
What fees are included?
This calculator excludes additional fees (arrangement, option-to-purchase, documentation). Check your lender’s quote for a full cost breakdown.
Is this a credit offer?
No. This is an educational tool to estimate costs. Always confirm figures with your lender before making decisions.