PCP vs HP vs PCH Calculator
Personal Contract Purchase, Hire Purchase and Personal Contract Hire (leasing) can all get you into the same car, but they cost different amounts and end differently. Enter the car's price once and see the monthly payment, total cost and whether you own the car at the end, for all three side by side.
Estimate only. This is an estimate based on the figures you enter, real dealer/lender quotes, fees and PCH admin charges vary. Not financial advice.
Enter the car's details to compare
Add the cash price, deposit, APR and term, plus the PCP balloon and PCH rental, and we'll compare all three finance types.
PCP, HP and PCH, what's the difference?
Hire Purchase (HP) spreads the full price (minus your deposit) over the term with no balloon payment, you own the car outright once the last payment (and small option-to-purchase fee) is made. Personal Contract Purchase (PCP) defers a lump sum, the Guaranteed Minimum Future Value (GMFV) or 'balloon', to the end, so your monthly payments are lower, but you only own the car if you pay that balloon; otherwise you hand it back. Personal Contract Hire (PCH) is a lease, not finance, you never own the car, and the cost is simply the quoted monthly rental (plus any months paid upfront and an admin fee). This calculator totals up all three so you can see whether the lower monthly payment on PCP or PCH actually costs more over the full term.
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