Finance Calculator

Choose between:
HIRE PURCHASE or LEASE PURCHASE
If you are unsure of the difference, see below:

Credit Rating
Term
Deposit
Price of vehicle
Hire Purchase
Lease Purchase

Total amount payable:

48 monthly payments:

Representative APR*

Hire Purchase (HP): borrow a set amount of money over an agreed period at a fixed interest rate. The amount borrowed and the total interest is divided across the entire agreement, meaning you pay the same amount each month. You can also pay off the total early.

Key Features
• Fixed monthly payments
• Fixed interest rate means interest doesn’t fluctuate
• Option to pay off the agreement early
• No annual mileage limits

Lease Purchase (LP): defer some of the total cost to the end of the agreement, called a balloon payment. Unlike Personal Contract Purchase (PCP), you have to pay the balloon payment at the end as there is no option to hand the vehicle back.

Key Features
• Fixed monthly payments
• Fixed interest rate means interest doesn’t fluctuate
• Can defer up to 31% until to end of the agreement
• Balloon payment must be paid at the end
• No annual mileage limits

Disclaimer: In assessing your car loan application, we will make enquiries about you including searching your records held by Equifax Plc and/or Experian Ltd. You consent to us disclosing details of your finance application and we may use a 'credit scoring' or other automated process in deciding whether to accept your application. Your information may also be sent to a 3rd party for further loan/insurance option purposes.

*APR's stated are for illustration purposes only - a full quotation to SECCI compliance available on request.