The honest car finance calculator.
This runs on real amortisation maths rather than marketing maths. Work out PCP and HP payments by price, deposit, term and credit profile, with no sign up, no credit check and no nonsense.
Estimated monthly payment
This estimate is subject to status. An initial soft credit search takes around 60 seconds and will not affect your credit score.
Representative Example
Borrowing £10,000 over 48 months with a representative APR of 10.9%, an annual interest rate of 10.9% (fixed) and a deposit of £0, the monthly payment would be £257.97. The total cost of credit would be £2,382.55, with a total amount payable of £12,382.55.
MotoLend is a credit broker and not a lender. Finance is subject to status; 18+, UK residents only. We work with a panel of lenders and may receive a commission for introducing you. This may be a fixed fee or a percentage of the amount borrowed, which may vary by lender. You have the right to request the amount of commission before entering into the credit agreement.
Reading the numbers
What the calculator is actually doing
Most calculators quote flat interest to make the payments look smaller. Ours uses standard reducing balance amortisation maths, so the numbers you see give an accurate indication of borrowing costs.
- Amount financed is the vehicle price minus your deposit.
- APR is based on your individual credit assessment; our representative rate is 10.9% APR, with rates from 8.9% APR for eligible applicants.
- Optional final payment applies to PCP, where roughly a third of the car's value is deferred to the end. You can pay it to keep the vehicle, trade it in, or return the car (subject to terms).
- Total payable adds up your deposit, every monthly payment and any final payment, reflecting the total cost of borrowing.
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