Work out the monthly repayment and total cost of financing a vehicle or piece of equipment via hire purchase, lease or PCP, including any final balloon payment.
Données vérifiées · July 2026
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The amount financed is the asset price less any deposit, repaid over the term via a reducing-balance annual interest rate. If you set a balloon (or PCP-style final payment), its present value is deducted from the amount amortised each month, so the monthly instalment only repays the non-balloon portion — the balloon itself falls due as a lump sum at the end.
£30,000 asset price, £3,000 deposit, 8% annual rate over 36 months, no balloon: roughly £846/month, with total interest of around £4,470 over the term.
Enter the asset's price and any deposit you're putting down.
Enter the annual interest rate quoted by the lender and the term in months.
If it's a PCP or finance lease, enter the balloon/final payment.
Read the monthly payment, total cost and effective cost rate.
Last data update
July 7, 2026
Sources and references
FCA — Consumer credit / car finance guidance (gov.uk/consumers/car-finance); Finance & Leasing Association (FLA) hire purchase and PCP explainers (fla.org.uk), 2025/26.
The data in this calculator is updated regularly to reflect the latest official rates. When in doubt, consult the official sources listed above.
It reduces the amount amortised monthly, because only the non-balloon portion of the loan is repaid in instalments — the balloon itself is settled separately at the end (paid, refinanced, or the asset returned, depending on the agreement type).
Not exactly — the effective cost rate here is total interest divided by asset price, a simple comparison metric. The APR quoted by lenders follows FCA-mandated disclosure rules and can differ slightly depending on fees included.