UK Car Finance Calculator (2026)

Use the full list price for ECS check. "Condition" sets the depreciation curve for PCP GMFV estimation.

Higher deposits lower monthly payment. Some PCP deals require minimum 10% deposit; others accept £0.

24–60 months. Longer terms lower monthly but increase total interest. 36–48 months is typical sweet spot.

Drives the PCP excess-mileage calculation. Be realistic — commuting + holidays often hits 12k/year.

Check your free credit score at ClearScore. APRs shown are market benchmarks.

See PCP/HP/Loan side-by-side: monthly, total paid, interest, fees. Plus depreciation vs GMFV chart and recommendations.

Finance companies set GMFV conservatively — typically 10–20% BELOW expected market value at term end. This makes PCP safe for them (low negative-equity risk) but gives customers less equity to roll into a new PCP than they expected. Check: compare the GMFV offered to the We Buy Any Car or CarWow estimate for a same-age, same-condition car. If GMFV is >20% below expected value, the "positive equity" at end-of-term will be smaller than headline marketing suggests.

At PCP end-of-term, you can refinance the balloon payment as a separate personal loan — often at lower APR than the original PCP. Example: £12,000 GMFV refinanced as 36-month personal loan at 6.9% = £370/mo for 36 months. Gives you ownership without the new-PCP cycle. Particularly useful when residual market value exceeds GMFV — you gain equity for the next purchase. Dealers will often push "new PCP with trade-in" — compute the refinance alternative before signing.

Section 75: credit card purchases between £100–£30,000 are jointly liable between you and the card issuer for defects or mis-selling. Put the deposit on credit card for this protection. Voluntary Termination: right to hand back at 50% paid. Early settlement: always allowed with maximum 28-day interest rebate reduction. 14-day cooling off (for distance or off-premises signing): full right to cancel. Unfair commission cases: the Court of Appeal's October 2024 judgment exposed dealer discretionary commissions — potential mis-selling claims if dealer didn't disclose commission structure before you signed.

EVs carry unique PCP risks: (1) Battery degradation concerns → lenders set lower GMFVs (often 40–50% of list price at 4 years vs 55–60% for ICE). (2) Rapid tech improvement → 2021-era EVs have lost value quickly as range improved. (3) 2023–24 EV price cuts by Tesla/Kia/Polestar hit PCP values → finance companies became more cautious. Tactics: prefer manufacturer-subsidised PCP (BMW i, Volvo, Polestar offer strong deals), consider leasing instead of PCP for unpredictable residuals, and check EV-specific excess-mileage terms (some manufacturers offer higher EV mileage allowances due to lower wear).