Car Affordability Calculator
Find out how much car you can afford, compare PCP vs HP vs bank loan financing, and see the true cost including depreciation.
Max car price
£18,983
Default rates: HP ~6.9%, PCP ~5.9%, Bank loan ~4.9% APR (typical rates — adjust to your local market). Actual rates depend on credit score, dealer, and lender.
Maximum car price you can afford
£18,983
£3,797 deposit + £15,187 loan
Monthly payment
£300/mo
Total interest
£2,813
Total repaid
£18,000
Deposit needed
£3,797
Affordability check: At £300/month over 5 years at 6.9% APR, you'll pay £2,813 in interest — that's 19% of the loan amount.
Depreciation over time
Depreciation reality check: Your £18,983 car will be worth approximately £9,690 after 3 years (51% retained) and £7,419 after 5 years. That's £9,293 lost to depreciation in just 3 years.
This calculator provides estimates only. Actual rates, terms, and depreciation vary by vehicle, credit score, and lender. Depreciation model uses industry averages — specific cars may depreciate faster or slower. Always check the total cost of finance, not just the monthly payment.