Car Finance Comparator
Side-by-side analysis of PCP, Hire Purchase, and Personal Loans. Model your next vehicle purchase with precision.
Monthly Payment
$484
Lease Outcome
Lower monthly cost, but you must pay the $15,000 at the end to own the car, or hand it back.
Monthly Payment
$731
No Balloon payment for standard Auto Loan.
Auto Loan Outcome
Higher monthly payments than Lease, but you own the car outright at the end of the term with no final balloon payment.
Monthly Payment
$706
Typically lowest APR but check eligibility.
Loan Outcome
You own the car from day one. Usually the most cost-effective way to buy, but monthly costs are higher than Lease.
Interest Comparison
PCP vs Finance vs Personal Loan: Which is right?
The Lease Cost Trap
Balloon loans and leases are popular due to lower monthly payments. However, you are effectively only paying off the depreciation, plus interest on the entire vehicle value. This is why total interest can be higher than a standard personal loan.
Ownership Advantage
With a Personal Loan or Standard Auto Loan, you own the vehicle at the end of the term. With Lease/Balloon, you only own it if you pay the balloon payment. If you plan to keep your car for a long time, a Personal Loan is almost always the cheapest route to ownership.