Finance Comparison Tool
HP vs PCP Calculator
Compare Hire Purchase vs Personal Contract Purchase side-by-side. See which finance option costs less and fits your budget.
Loan Details
€
€
20% of car price
HP
Hire Purchase
You own the car at the end
€484.77
per month
Amount Financed€20,000
APR7.9%
Total Interest€3,269
Total Payable€28,269
PCP
Personal Contract Purchase
Balloon payment at the end
€281.57
per month
Amount Financed€20,000
APR5.9%
Balloon (GMFV)€10,000
Total Interest€3,516
Total Payable€28,516
Quick Comparison
Monthly Saving
€203
PCP is cheaper
Total Cost Diff
€247
PCP costs more overall
HP Interest
€3,269
PCP Interest
€3,516
Payment Breakdown
HP Total: €28,269
Deposit
Principal
Interest
PCP Total: €28,516
Deposit
Repaid
Balloon
Interest
HP — Best If...
- ✅ You want to own the car outright
- ✅ You plan to keep it long-term
- ✅ You want no surprise balloon at the end
- ✅ You do high mileage
PCP — Best If...
- ✅ You want lower monthly payments
- ✅ You change cars every 3-4 years
- ✅ You like driving newer models
- ⚠️ You stay under mileage limits
Disclaimer
This calculator is for illustration only. Actual rates and terms depend on your credit profile, the lender, and the vehicle. Always compare offers from multiple lenders. GMFV is set by the manufacturer — check your PCP contract for the exact amount. Regulated by the Central Bank of Ireland.
Further reading