Car Finance Calculator for Hire Purchase

We understand that every individual’s circumstances are unique and that’s why our user-friendly loan calculator lets you explore finance options tailored to your needs.

After using the calculator you can apply for car finance effortlessly by completing our straightforward online application. Direct Cars Limited is an appointed representative of ITC Compliance Limited which is authorised and regulated by the Financial Conduct Authority.

Ensuring transparency when choosing us for your car loan needs. At Direct Cars, we’re committed to transparency. Our representative APR aims to provide you with a clear understanding of your monthly repayments.

Our finance calculator considers your credit rating and credit score, allowing us to offer personalised financial solutions. As a family-owned business we take pride in being a trusted name in the industry since 1996.

Buy a car in confidence, knowing that Direct Cars is here to make the process seamless. Explore your finance options today and take the first step towards driving away in your dream car.

60 months

Hire Purchase (HP) Example

Vehicle Price £
Total Deposit £
Total Amount Of Credit £
Option to Purchase Fee £
APR (fixed)
Flat Rate
Period of Loan
Total Amount Payable
(inc deposit)

These figures are for illustration only and could change depending on your individual circumstances.

Why use our car finance calculator?

Embarking on the journey to secure car financing can be a daunting task, laden with uncertainties and complex calculations. That's precisely why Direct Cars offers you a lifeline in the form of our user-friendly car finance calculator.

Transparency in financial planning

In the world of car financing, transparency is paramount. Our finance calculator acts as your trusted companion, unveiling the intricacies of your potential loan. No hidden fees, no ambiguous terms—just clear, concise information tailored to your unique needs. Planning your budget becomes a breeze when armed with the clarity our calculator provides.

Empowerment through knowledge

Our calculator empowers you with insights into the dynamics of interest rates, loan terms, and overall affordability. By experimenting with different scenarios. You gain a deep understanding of how each factor influences your monthly payments and the total cost of your car loan.

Customisation for individual needs

We designed our finance calculator for personalisation. Whether you're eyeing a compact car or a family-friendly SUV, the tool adapts to your specific requirements.

Tailor the loan amount and adjust the interest rate. Then explore various terms to find the combination that aligns seamlessly with your financial comfort.

Preventing unpleasant surprises

Imagine the frustration of committing to a car purchase only to discover unforeseen financial challenges later. Our calculator acts as a preventative measure, ensuring you enter the car-buying process with your eyes wide open. No surprises, no guesswork—just a clear understanding of what your financial commitment entails.

Key Terms Explained

Before delving into the nitty-gritty, let's demystify some key terms you'll encounter on your financing journey:

  • APR (Annual Percentage Rate): This is the cost of borrowing, expressed as a yearly interest rate. It includes interest and any additional fees, providing a comprehensive view of your loan.
  • Credit Score: Your financial report card. A good credit score can open doors to lower interest rates, potentially saving you money.
  • Representative APR: A representative APR can be different to the actual APR you might be offered when applying for car finance. When you see a representative APR advertised. This means that at least 51% of customers receive a rate that is the same as, or lower than, the representative APR.
  • Credit Check: A review of your credit history. Our calculator lets you understand how this might impact your loan application.
  • Balloon Payment: A balloon payment is a one-off lump sum paid at the end of your finance agreement to buy the car outright. You determine the size of the balloon payment at the beginning of your finance agreement.
  • FCA: The Financial Conduct Authority are the financial regulator in the UK. Direct Cars Limited is an appointed representative of ITC Compliance Limited which is authorised and regulated by the Financial Conduct Authority.
  • Hire Purchase (HP): HP finance is a type of car finance that enables you to hire the car while paying agreed monthly instalments. These repayments cover the cost of the car, plus interest. You secure ownership of the vehicle only when you complete the final payment.
  • Personal Contract Purchase (PCP): Personal Contract Purchase (PCP) is a type of car finance that lets you loan a new car. The loan is paid back in monthly instalments with an optional balloon payment at the end of your contract if you want to own the car outright. You can also return the car.

How to Use Our Car Loan Calculator

  1. Enter the price of the vehicle: Start by inputting the total cost of the vehicle you're interested in.
  2. Enter desired deposit amount: Specify the amount you'd like to put down as a deposit for your car.
  3. Select your credit score rating: Choose the credit score category that best represents your financial history.
  4. Select agreement duration: Decide on the duration of the finance agreement that suits your budget.
  5. Calculate your finance quote: Hit the calculate button to get an instant overview of your potential car finance package.

Free Soft Credit Searches

We offer free soft credit searches as part of our commitment to transparency and customer satisfaction.

What is a soft credit search?

A soft credit search is a preliminary inquiry into your credit history. However, it doesn't leave a visible mark on your credit report. Unlike hard credit checks, soft searches are only visible to you and do not affect your credit score. This means you can explore your car financing options without any impact on your financial standing.

Why do we offer free soft credit searches?

We believe in empowering our customers. By offering free soft credit searches. We provide you with the opportunity to understand your current credit situation without the fear of negative consequences. Knowing where you stand financially is crucial when considering a major investment like a car purchase.