HP Calculator

Hire Purchase pays off the full car price with no balloon — you own it outright at the final payment. Your headline monthly payment doesn't include the deposit or any fee, so the effective monthly outlay is usually a little higher; true cost then subtracts what the car is worth once you're done paying.

Your deal

Car price

Deposit

APR

Agreement duration

months

Number of regular paymentsoften term − 1

pmts

Documentation fee

I know what the car will be worth

Otherwise we'll estimate it

Illustrative estimate

£9,657

Adjust

Depreciation

%/yr

Headline payment

£454/mo

Effective monthly outlay

£476/mo

Estimated true monthly cost

£275/mo

Total cash outlay

£22,861

Estimated true cost (period)

£13,204

Estimated end value

£9,657

Estimates only, based on the methodology stated above — actual lender or dealer figures may differ. RealCarCost is not a broker, lender or financial adviser, and nothing here is financial advice or a personal recommendation.

Last reviewed: 30 August 2026. Figures and methodology are reviewed as UK rates and rules change.