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Car Payment Calculator
Enter the car price, your deposit, the APR, and the term. See exactly what you'll pay per month — and more importantly, what you'll pay in total.
Your details
PCP result
Total Amount Payable
£29,386.98
This is the total that leaves your account — deposit + all payments + balloon
Representative Example
Monthly payment is what you can afford. Total cost is what you actually pay.
Two deals can have the same monthly payment but wildly different total costs. A £25,000 car at 3.9% APR over 48 months costs £2,000 in interest. The same car at 9.9% costs £5,400. Same monthly-ish — but £3,400 more out of your pocket.
What determines your monthly payment
Four variables control your monthly outgoing:
- Car price (OTR) — the on-the-road price. Higher price = higher payments, obviously. But a £5,000 difference in price has a smaller impact on monthly payment than most people expect — it's the APR that multiplies.
- Deposit — reduces the amount borrowed. A 20% deposit instead of 10% cuts your borrowing by roughly 11% (because the deposit replaces that slice of credit). This directly reduces both monthly payment and total interest.
- APR — the annual percentage rate including fees. This is the most impactful variable. The difference between 3.9% and 9.9% on a £20,000 car over 48 months is £2,400 in total interest.
- Term length — longer terms reduce monthly payments but increase total interest. A 60-month term on £15,000 at 6.9% costs £700 more in interest than a 36-month term.
Typical UK car finance rates (April 2026)
| Finance type | Typical APR range | Best for |
|---|---|---|
| Bank personal loan | 3.0–5.8% | Good credit, £7,500–£25,000 |
| Manufacturer PCP (subsidised) | 0–4.9% | New cars with manufacturer offers |
| Dealer PCP/HP (standard) | 5.9–9.9% | New and used, average credit |
| Broker (standard) | 7.9–19.9% | Used cars, mixed credit |
| Subprime specialist | 19.9–47.5% | Poor credit — high cost |
Reference rate
The Bank of England average personal loan rate is currently 4.1% APR (IUMBV48 series, March 2026). If you're being offered significantly more than this, either your credit profile warrants it or you're being overcharged.
The "£199/month" trap
Adverts love round monthly numbers. "From £199/month" or "£299/month" are designed to anchor your thinking on cash flow. But two £299/month deals can be completely different:
- Deal A: £20,000 car, 3.9% APR, 48 months, £3,000 deposit. Total cost: £17,352. Fair deal.
- Deal B: £25,000 car, 6.9% APR, 60 months, £1,000 deposit. Total cost: £22,940. Expensive deal.
Same monthly payment. £5,588 difference in total cost. This is why we rank deals by Total Amount Payable, not monthly payment.
How to get a lower payment (without a longer term)
- Bigger deposit. Every extra £1,000 in deposit saves ~£25/month on a 48-month deal at 6.9%.
- Better APR. Shop around. Get a quote from your bank before visiting a dealer.
- Cheaper car. The most effective lever. A car that costs £3,000 less saves ~£75/month at any APR.