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HP Car Finance Calculator

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PCP/HP FINANCE
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How our HP Car Finance Calculator Works

To find out your monthly payment and total interest for an HP loan, enter the loan amount, APR, and the loan term in months. Remember, this is an estimate based on the information you provide. Please verify the ‘Final Payment’ details with a Motorfinity expert.

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Enter the loan amount.
Enter the annual percentage rate.
Enter the term length in months.

Hire Purchase (HP) Results

Monthly repayments, total cost, and total interest will be displayed here.

Representative Example

You could borrow £13,000 over 48 months, with 48 monthly payments of £308.15. The total amount repayable would be £14,798.40, including a £10.00 option to purchase fee. This is based on a representative 6.3% APR, with a fixed annual interest rate of 6.1%.


What is HP Car Finance?

HP (Hire Purchase) finance involves paying a deposit and monthly instalments to cover the full cost of a car. Once all payments are made, you own the car outright.

Read more about car finance? Read more about PCP vs HP car finance? Read more about buying vs leasing a car? Read more about electric car finance?
How is HP car finance calculated?
HP car finance is calculated by taking the total cost of the car, subtracting the deposit, and dividing the remaining amount into equal monthly instalments over the agreed term, with interest applied on the loan amount.
What is the difference between HP and PCP Car Finance?
HP finance lets you own the car after higher monthly payments, while PCP has lower payments but offers options to return, trade, or buy the car at the end with a balloon payment.
Can you sell a car on HP Finance?
You can't sell a car on HP finance until you've fully paid off the loan, as the lender owns the car until the final payment is made.
Can you end your HP finance Early?
Yes, you can end HP car finance early by paying off the remaining balance, known as a settlement figure, which includes the remaining loan and any applicable interest.

HP Car Finance for NHS and Key Workers

At Motorfinity, we provide exclusive PCP and HP car finance deals for NHS, Military, Police, and other key workers. Enjoy tailored finance solutions with competitive rates and excellent service.

NHS Car Finance Key Workers Car Finance
172.71.222.204

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