Free PCP Car Finance Calculator

Personal Contract Purchase (PCP) is a popular car finance option where you pay a deposit, make fixed monthly payments over an agreed term, and have the option to either return the car, pay a final balloon payment to own it, or trade it in for a new vehicle. The monthly payments are typically lower than HP finance because you're only paying the depreciation, not the full vehicle value.

Our PCP calculator provides realistic estimates based on the information you provide including vehicle price, deposit, term length, mileage, and APR. However, actual finance quotes may vary depending on your credit score, the specific vehicle, dealer offers, and current market conditions. Always get personalized quotes from lenders for exact figures.

The GMFV, also known as the balloon payment or optional final payment, is the predicted value of your car at the end of your PCP agreement. This amount is set at the start of the contract based on the vehicle model, term length, and mileage allowance. At the end of the term, you can pay this amount to keep the car or return it to settle the finance.

If you exceed the agreed mileage limit specified in your PCP contract, you'll typically be charged a per-mile fee at the end of the agreement, usually between 5p and 20p per excess mile. Higher mileage reduces the vehicle's value, which is why it's important to estimate your annual mileage accurately when setting up your PCP agreement.

Yes, you can settle your PCP finance early by paying the outstanding balance, which includes all remaining monthly payments and the final balloon payment minus any rebate for early settlement. Alternatively, if your car is worth more than the settlement figure, you may be able to trade it in and use the equity toward a new vehicle.

PCP offers several benefits including lower monthly payments compared to Hire Purchase, flexibility at the end of the term with three options (keep, return, or trade), fixed monthly payments for easier budgeting, the ability to drive a newer car more affordably, and protection from depreciation since the GMFV is guaranteed regardless of actual market value, as long as the car is in good condition and within mileage limits.