Car Finance Calculator: PCP and HP Monthly Repayments
How much will a car cost per month on finance?
Enter the car price, your deposit and the term. The calculator shows an estimated monthly repayment for HP and PCP, the total amount repayable and the PCP final payment. The lender’s own quote is the figure that counts. The cost of hire purchase is the total hire purchase price minus the cash price.
Loan Details
20% of car price
Hire Purchase
You own the car at the end
per month
Personal Contract Purchase
Balloon payment at the end
per month
Quick Comparison
Monthly Saving
€203
Lower monthly repayment at these inputs: PCP
Total Cost Diff
€247
PCP costs more overall
HP Interest
€3,269
PCP Interest
€3,516
Payment Breakdown
HP Total: €28,269
PCP Total: €28,516
How HP works
- You don’t own the car until the final payment is made.
How PCP works
- A large final payment is agreed at the start; you pay it if you want to own the car.
- There may be limits on mileage, rules about wear and tear, and servicing requirements.
Disclaimer
This calculator is for illustration only. Actual rates and terms depend on your credit profile, the lender, and the vehicle. Compare the total amount repayable on each written quote. GMFV is set by the manufacturer — check your PCP contract for the exact amount. Check your lender’s authorisation on the Central Bank of Ireland register.
How this calculator works and its limits
Last reviewed: 21 October 2026
- It is an estimate built from the inputs on screen.
- It does not include fees, excess-mileage or wear-and-tear charges, insurance or servicing.
- PCP agreements may have mileage limits, wear-and-tear rules and servicing requirements (CCPC).
- Firms providing hire purchase must be authorised by the Central Bank. Check the Central Bank register.
- A garage arranging HP is usually acting as a credit intermediary for a finance company and must be authorised by the CCPC (Citizens Information).
- An HP agreement must state your right to withdraw within 10 days of receiving a copy of the agreement. This is the cooling-off period (Citizens Information).
Before you buy, check the car. For more on how the two compare, read the HP vs PCP guide.
Sources (checked 21 October 2026)
Want a real finance quote for this car?
These figures are estimates. A lender quote depends on your circumstances.
Get a finance quoteCar finance questions
What is the difference between HP and PCP?
With Hire Purchase (HP) you repay the full price over the term and own the car after the last payment. With PCP your monthly payments are usually lower because a large final payment is left at the end; you can pay it to keep the car, hand the car back, or trade it in.
Which costs less overall, HP or PCP?
Paying with cash or savings is the cheapest way to pay for a car because you won’t pay any interest (CCPC). With finance, the total cost depends on the interest rate, the term and any final payment, so compare the total amount repayable, not just the monthly repayment.
Can I get car finance for a private sale?
A personal loan is one option. With a personal loan you own the car from the day you buy it, unlike HP and PCP where you don’t own it until the final payment is made (CCPC).
What are my options at the end of a PCP?
The CCPC lists three options: pay the final balloon payment and own the car, hand the car back, or enter into another PCP agreement. If you hand the car back you generally don’t pay anything more, but you may face penalties for exceeding mileage limits or excessive wear and tear, and any equity in the car is not returned to you.
Can I end an HP or PCP agreement early?
Yes. PCPs are a type of hire purchase agreement, and under the Consumer Credit Act 1995 you can end a hire purchase agreement before the final payment falls due by giving notice in writing to the finance company. Under the ‘half rule’ you can return the car: if you have paid less than half of the total hire purchase price, you still owe the difference between what you have paid and half that price; if you have paid half or more, there are no further repayments, though you still owe any missed payments and may have to pay for damage if the car was not taken care of.
Who owns the car on HP or PCP?
The finance company owns the car until you make the final payment. On a PCP, if the car has a fault the finance company is responsible for fixing it, as it is the legal owner (CCPC).
Can someone sell a car privately while it is still on HP or PCP?
Citizens Information says you cannot legally sell an item on hire purchase until the agreement has been paid off, and PCPs are a type of hire purchase agreement. Check a car for outstanding finance before you buy.
Further reading