⚠️ Representative APR: The actual rate you get will depend on your personal circumstances and credit score. The representative APR shown is the rate offered to at least 51% of successful applicants.
This is an unsecured loan. Your home is not at risk if you fail to keep up repayments, but your credit rating will be affected.
🚗 Car finance: With HP you own the car at the end of the agreement. With PCP, you have the option to return the car, pay the balloon to own it, or part-exchange. The car is security for the loan and may be repossessed if you do not keep up payments.
| Year | Interest | Principal | Balance |
|---|---|---|---|
| Mo | Opening | Payment | Interest | Principal | Closing |
|---|---|---|---|---|---|
Comparing loan offers. Got quotes from different lenders? Enter each one to see the total cost over the full term. A lower monthly payment might mean a longer term and more interest overall. This calculator shows the total cost, not just the monthly figure.
Deciding between HP and PCP for car finance. HP means you own the car at the end. PCP has lower monthly payments but a large balloon payment if you want to keep the car. The calculator shows both side by side so you can see the true cost difference.
Planning credit card repayment. If you're carrying a balance, the credit card tab shows how long it'll take to pay off and how much interest you'll pay at different monthly payment levels. A small increase in monthly payment can save a lot of interest.
APR (Annual Percentage Rate) is the true cost of borrowing including fees and compound interest. A flat rate looks lower but doesn't account for the fact you're paying interest on the full amount even as you repay. Always compare APRs. a 6% flat rate is roughly equivalent to an 11% APR.
In a PCP deal, the balloon payment (also called the Guaranteed Minimum Future Value) is the lump sum due at the end if you want to own the car. It's typically 30–50% of the car's original value. You can pay it, part-exchange the car, or hand the car back and walk away.
Under the Consumer Credit Act, you can settle most loans early. For loans taken out after February 2011, the lender can charge a maximum of 1 month's interest as an early settlement fee. For loans under 1 year, the maximum is 58 days' interest. It's usually worth overpaying if you can.
The calculations use standard amortization formulas. For personal loans, this should closely match your actual payments. For car finance, some lenders use daily interest or different calculation methods, so your actual payments may differ slightly.
Yes. All calculations run entirely in your browser. Your financial details never leave your device.
Most loan calculators only show you the monthly payment. they don't reveal the total interest over the full term. This one does, plus it gives you a full amortization schedule and covers personal loans, car finance (HP and PCP), and credit cards all in one tool.
It works entirely in your browser with no tracking, no account needed, and no lender will contact you after using it. It also works offline, so you can use it at the car dealership without needing a signal.