GBWise
UK Car Finance Hub

Car Finance Calculator & Eligibility Checker

Calculate your monthly payments, check your eligibility, and understand your finance options

How to Use This Tool

Get accurate car finance results in 4 simple steps

1

Enter Vehicle Details

Input the car price, your deposit amount, and preferred finance term

2

Choose Finance Type

Select between PCP (lower payments) or HP (own the car)

3

Check Eligibility

Complete our quick eligibility checker - no credit impact

4

View Results

See monthly payments, total interest, and full repayment schedule

PCP (Personal Contract Purchase)
HP (Hire Purchase)

Vehicle & Finance Details

£
£1k£25k£50k
£
£0£10k£20k
%
5%15%25%
months
12m24m36m48m60m72m
miles
5k10k15k20k
Higher mileage reduces the car's guaranteed future value (GFV)

Your Results

Monthly Payment
£0
PCP Finance
Total Amount Payable
£0
Including interest
Total Interest
£0
Over full term
Final Payment
£0
Optional balloon payment
Month Payment Interest Balance
Based on representative APR. Your actual rate may vary.

Check Your Eligibility

See if you qualify for car finance - soft search only, no credit impact

Why Check Your Eligibility?

Our eligibility checker uses a soft credit search that won't affect your credit score. You'll get an instant indication of:

  • Your likelihood of approval
  • Estimated APR rate you may be offered
  • How much you could borrow
  • Which finance options suit you best
Soft search only - no impact on your credit score

Frequently Asked Questions

Everything you need to know about car finance

What's the difference between PCP and HP finance?
PCP (Personal Contract Purchase) offers lower monthly payments because you're only paying off part of the car's value. At the end, you have three options: return the car, pay a balloon payment to own it, or trade it in for a new one.

HP (Hire Purchase) has higher monthly payments, but once all payments are made, the car is yours automatically with no final balloon payment.
Will checking my eligibility affect my credit score?
No. Our eligibility checker uses a soft credit check which does not leave any footprint on your credit report. Only when you proceed with a full finance application will a hard search be performed, which may temporarily affect your credit score.
What APR can I expect for car finance in the UK?
APR rates vary based on your credit profile. Typical ranges for 2026 are:
- Excellent credit: 5.9% - 8.9% APR
- Good credit: 9.9% - 12.9% APR
- Fair credit: 13.9% - 18.9% APR
- Poor credit: 19.9% - 24.9% APR
Your actual rate will be confirmed after a full application.
Can I get car finance with bad credit?
Yes, it is possible to get car finance with bad credit. Specialist lenders consider applicants with a range of credit profiles. You may need a larger deposit or accept a higher APR. Use our eligibility checker to see your chances without affecting your credit score.
How much deposit do I need for car finance?
While some lenders offer 0% deposit options, we recommend a deposit of at least 10% of the vehicle price. A larger deposit (20-30%) will lower your monthly payments and reduce the total interest you pay over the term.
What happens at the end of a PCP agreement?
At the end of a PCP agreement, you have three options:
1. Return the car - Hand it back with nothing more to pay (subject to fair wear and tear and mileage limits)
2. Pay the balloon payment - Make the final payment to own the car outright
3. Trade it in - Use any positive equity as a deposit on a new car
How long does the finance application take?
The initial eligibility check takes just 2-3 minutes. A full finance application can be completed online in 10-15 minutes, and decisions are often provided within 1-2 hours. Once approved, you can usually collect your car within a few days.
Are there any hidden fees I should know about?
Reputable lenders are required to be transparent about all fees. Common charges to look out for include: early settlement fees, late payment fees, and excess mileage charges on PCP agreements. Always read your credit agreement carefully before signing.
This calculator and eligibility checker provide estimates for illustrative purposes only. Actual finance offers may vary based on credit checks, lender criteria, and market conditions. Always read the terms and conditions carefully before signing any finance agreement.