Free calculator

PCP calculator

Work out what a car costs on PCP. Put in the figures from the quote, balloon included, to see the monthly payment, the total cost and the interest. Free, no sign-up.

Your PCP figures

Cash price of the car The on-the-road price you'd pay for the car in cash.

Deposit

Part-exchange (optional)

Term (months) Most PCP deals run 24–48 months.

Representative APR (%) It's on the finance quote. Use 0 for a genuine 0% deal.

Final payment (balloon / GMFV) The optional final payment on the quote, often 40–55% of the price on a 3–4 year deal.

A worked PCP example

A £24,000 car with a £3,000 deposit over 48 months at 9.9% APR, with a £11,000 balloon. Straight from the calculator above.

Worked example: £24,000 car on PCP
Deposit paid up front	£3,000
Amount financed	£21,000
Monthly payment	£338
Balloon left at the end	£11,000
Total to own the car	£30,224
Cost of credit	£6,224

The low monthly payment is real, but so is the interest running on the whole balance, balloon included. If you plan to keep the car at the end, compare the total against our HP calculator before deciding. If you change cars every few years and hand it back, PCP is doing exactly what it is designed for.

Figures last checked against the official source on 25 August 2026. Check the source yourself.

How PCP actually works

PCP splits the cost of a car into three parts. A deposit, a run of monthly payments, and a large optional final payment, the balloon, that you only pay if you decide to keep the car. The balloon is the lender's guess at the car's future value.

Because the monthlies only bridge the gap between price and balloon, they are much lower than HP on the same car. The catch is that interest runs on the whole balance throughout, balloon included, so the cost of credit is higher than it looks.

PCP deals are tied to an agreed annual mileage, and going over it costs pence per mile at hand-back. The car also has to come back in fair condition. Neither matters if you pay the balloon and keep it.

Getting a fair PCP deal

Judge any quote on the total amount payable, not the monthly figure. A tempting monthly can hide a long term, a high APR or an optimistic balloon. The calculator above puts the total and the interest next to the monthly so nothing hides.

And check the car itself before signing anything. The free MOT check takes seconds, and the £5.00 report reads back the recorded history and spec.

PCP calculator: common questions

How is a PCP monthly payment worked out?

Your payments cover the gap between the car's price and the balloon, the lump the lender guarantees the car will still be worth at the end. Interest is charged on the whole balance including that balloon, which is why PCP costs less per month than HP but usually more in total if you buy the car. This calculator runs the standard maths on your own figures.

What is a typical balloon or GMFV?

Lenders commonly set the Guaranteed Minimum Future Value around 40 to 55 percent of the price on a three or four year deal, depending on how well the model holds its value and the mileage you agree. It is set by the lender, not chosen by you, but the quote will state it plainly.

What happens at the end of a PCP deal?

You get three choices. Pay the balloon and keep the car. Hand the car back and owe nothing more, provided it is within the agreed mileage and in fair condition. Or trade it in, using any value above the balloon as the deposit on the next deal. That surplus is called equity, and it is never guaranteed.

Can I end a PCP deal early?

Yes, two ways. Ask for a settlement figure and pay the deal off, which includes a rebate of future interest. Or once you have paid half the total amount payable, you can voluntarily terminate, hand the car back and walk away. On PCP that halfway point usually lands late in the term because of the balloon.

What if the car is worth less than the balloon at the end?

That risk is the lender's, not yours. The Guaranteed in GMFV means you can always hand the car back rather than pay more than it is worth. You only lose out if you had planned on equity for your next deposit and the market took it away.