Car Loan & PCP Repayment Calculator
For illustrative purposes only — not financial advice. About our calculators
Car Finance Configuration
Leave at 0 for a standard Auto Loan.
Optimization Strategy
Even a small monthly overpayment can shave years off your term and potentially save thousands in interest.
REPAYLY REPORT
Car Finance Repayment Analysis
Car Finance Summary Results
Monthly Payment
$447
Interest Cost
$6,443
Total Repayable
$21,443
Interest Saved
$0
Term reduced by
0m
Detailed Amortisation Schedule Table
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| #1 | $446.73 | $261.31 | $185.42 | $24,738.69 |
| #2 | $446.73 | $263.25 | $183.48 | $24,475.43 |
| #3 | $446.73 | $265.20 | $181.53 | $24,210.23 |
| #4 | $446.73 | $267.17 | $179.56 | $23,943.06 |
| #5 | $446.73 | $269.15 | $177.58 | $23,673.91 |
| #6 | $446.73 | $271.15 | $175.58 | $23,402.76 |
| #7 | $446.73 | $273.16 | $173.57 | $23,129.60 |
| #8 | $446.73 | $275.19 | $171.54 | $22,854.41 |
| #9 | $446.73 | $277.23 | $169.50 | $22,577.18 |
| #10 | $446.73 | $279.28 | $167.45 | $22,297.90 |
| #11 | $446.73 | $281.35 | $165.38 | $22,016.55 |
| #12 | $446.73 | $283.44 | $163.29 | $21,733.11 |
| #13 | $446.73 | $285.54 | $161.19 | $21,447.56 |
| #14 | $446.73 | $287.66 | $159.07 | $21,159.90 |
| #15 | $446.73 | $289.79 | $156.94 | $20,870.11 |
| #16 | $446.73 | $291.94 | $154.79 | $20,578.16 |
| #17 | $446.73 | $294.11 | $152.62 | $20,284.05 |
| #18 | $446.73 | $296.29 | $150.44 | $19,987.76 |
| #19 | $446.73 | $298.49 | $148.24 | $19,689.28 |
| #20 | $446.73 | $300.70 | $146.03 | $19,388.57 |
| #21 | $446.73 | $302.93 | $143.80 | $19,085.64 |
| #22 | $446.73 | $305.18 | $141.55 | $18,780.46 |
| #23 | $446.73 | $307.44 | $139.29 | $18,473.02 |
| #24 | $446.73 | $309.72 | $137.01 | $18,163.30 |
| #25 | $446.73 | $312.02 | $134.71 | $17,851.28 |
| #26 | $446.73 | $314.33 | $132.40 | $17,536.95 |
| #27 | $446.73 | $316.66 | $130.07 | $17,220.28 |
| #28 | $446.73 | $319.01 | $127.72 | $16,901.27 |
| #29 | $446.73 | $321.38 | $125.35 | $16,579.89 |
| #30 | $446.73 | $323.76 | $122.97 | $16,256.13 |
| #31 | $446.73 | $326.16 | $120.57 | $15,929.96 |
| #32 | $446.73 | $328.58 | $118.15 | $15,601.38 |
| #33 | $446.73 | $331.02 | $115.71 | $15,270.36 |
| #34 | $446.73 | $333.48 | $113.26 | $14,936.88 |
| #35 | $446.73 | $335.95 | $110.78 | $14,600.93 |
| #36 | $446.73 | $338.44 | $108.29 | $14,262.49 |
| #37 | $446.73 | $340.95 | $105.78 | $13,921.54 |
| #38 | $446.73 | $343.48 | $103.25 | $13,578.07 |
| #39 | $446.73 | $346.03 | $100.70 | $13,232.04 |
| #40 | $446.73 | $348.59 | $98.14 | $12,883.45 |
| #41 | $446.73 | $351.18 | $95.55 | $12,532.27 |
| #42 | $446.73 | $353.78 | $92.95 | $12,178.48 |
| #43 | $446.73 | $356.41 | $90.32 | $11,822.08 |
| #44 | $446.73 | $359.05 | $87.68 | $11,463.03 |
| #45 | $446.73 | $361.71 | $85.02 | $11,101.31 |
| #46 | $446.73 | $364.40 | $82.33 | $10,736.92 |
| #47 | $446.73 | $367.10 | $79.63 | $10,369.82 |
| #48 | $446.73 | $369.82 | $76.91 | $10,000.00 |
Understanding Auto Loans & Lease Options
Auto Loans vs. Car Leases
Auto loans typically involve borrowing the full purchase price of the vehicle (minus deposit) and making equal monthly payments until the car is owned. Car leases, on the other hand, only finance the vehicle's projected depreciation over the lease term. At lease-end, you must return the car or pay a predetermined buyout option. REPAYLY helps you model both paths to understand the true cost of vehicle ownership, including interest and depreciation.
The Balloon Payment & Refinancing Costs
If you opt for a lease buyout or a balloon auto loan, you face a large lump-sum payment at the end of the term. Many drivers find themselves unable to pay this balloon sum in cash and are forced to refinance it. Refinancing the balloon payment means taking out a new personal or auto loan, extending the time you are paying interest on the car and significantly increasing the total cost of ownership. Modelling your early settlement or overpayment options is key to avoiding this interest trap.
Mileage Restrictions & Depreciation Realities
PCP and lease agreements are built around a strict annual mileage limit. If you exceed this limit, you will face hefty excess mileage charges (typically between 6p and 30p per mile) when returning the vehicle. Furthermore, because cars are rapidly depreciating assets, PCP contracts are highly sensitive to market fluctuations. If the car depreciates faster than expected, you may find yourself in 'negative equity' during the contract, where the vehicle is worth less than the settlement figure. Overpaying or saving to settle the contract early can help protect against negative equity.
Early Settlement Fees & Regulations
If you want to exit your auto loan agreement early, you can request a payoff quote from your lender. Prepayment penalties are increasingly rare on standard auto loans, but it is essential to check if your lender uses the simple interest method or precomputed interest, which can affect how much interest you save by paying early. Our calculator helps you estimate the principal reduction and interest savings when making extra payments on your vehicle loan.
Financial Literacy Hub
Managing debt effectively requires more than just a calculator. It requires a strategy. Whether you're using the Snowball Method (paying off small debts first for momentum) or the Avalanche Method (targeting high-interest debt first), REPAYLY provides the data you need to stay on track.
Expert Tip
Always verify early repayment terms with your lender before making large lump-sum payments.
Key Concept
Overpayments reduce your principal balance directly, compounding your savings every month.
Related Guides
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