Car HP (Hire Purchase) Calculator
Work out your monthly payment and total cost on a Hire Purchase car deal — you own the car outright once every payment is made.
Estimate only. This is an estimate based on a representative APR and does not constitute a finance offer. Always check the exact APR, fees and terms in your HP agreement before signing.
Enter your HP deal details
Your monthly payment and total cost of ownership appear here as you type.
How Hire Purchase is calculated
With Hire Purchase (HP), you finance the car price minus your deposit, and pay it off in equal monthly instalments over the term — just like a car loan, but secured against the car itself. Once you've made every payment, plus a small option-to-purchase fee (often around £10), the car is legally yours. Unlike PCP, there's no balloon payment at the end, so your monthly payments are typically higher — but the total cost of ownership is usually lower.