Question 1

What is a balloon payment?

Accepted Answer

A large final payment deferred to the end of PCP finance — lowers monthly payments; you can pay it, return the car, or part-exchange.

Question 2

Typical car finance APR?

Accepted Answer

~4–8% on manufacturer PCP deals, 8–15% for used cars and independent lenders.

Question 3

PCP vs HP vs loan?

Accepted Answer

PCP: low payments + optional balloon. HP: higher payments, you own the car. Personal loan: cheapest APR often, you own it from day one.

Question 4

What is a good car finance APR?

Accepted Answer

Under 6% is strong; 0% deals exist on new cars. Above 15% is expensive — compare against a bank loan before signing.

Question 5

Is the Car Loan & Finance Calculator free to use?

Accepted Answer

Yes — completely free, no signup, no account. It runs instantly in your browser and you can use it as often as you like.

Question 6

Is the Car Loan & Finance Calculator accurate?

Accepted Answer

Results use standard published formulas and current rates where applicable. They're accurate for the inputs given, but always verify figures that affect real money or decisions — rates change and edge cases exist.

Question 7

Do you store the numbers I enter?

Accepted Answer

No. Everything is calculated in your browser — nothing is sent to or stored on our servers.

Question 8

Can I use this on my phone?

Accepted Answer

Yes — the calculator is fully responsive and works on mobile, tablet and desktop.

Car Loan & Finance Calculator

Result