All Schemes Comparison Calculator
The ultimate car finance comparison. Enter your deal details once and see PCP, HP, PCH, and outright cash purchase compared side by side with monthly payments, total cost, and the cheapest option highlighted.
Frequently asked questions
Which car finance option is cheapest?
Buying outright with cash is almost always the cheapest in total because there is no interest. Among finance options, HP typically costs less than PCP (if you keep the car) because interest does not accrue on a deferred balloon. PCH may be cheapest monthly but you never own the vehicle.
Why does this comparison assume a 3-month initial PCH payment?
A 3-month initial payment (sometimes called 3+23 or 3+47) is the most common PCH structure in the UK. Your actual initial payment may differ, but 3 months is the industry standard used for fair comparison.
Should I always choose the cheapest option?
Not necessarily. The cheapest option (cash) ties up your capital. PCP offers flexibility to change cars regularly. HP gives ownership with fixed payments. PCH minimises hassle. The right choice depends on your cash position, how long you keep cars, and your preference for simplicity versus ownership.
Are there any other costs not included here?
This comparison covers the finance cost only. You should also factor in insurance, road tax (VED), fuel or charging, servicing, MOT, and depreciation (for cash and HP where you own the car). Some PCH deals include maintenance packages.
Can I mix schemes — for example, part cash and part finance?
Yes, the deposit acts as the cash element. A larger deposit reduces the amount financed and lowers monthly payments and total interest. Use our deposit impact calculator to see how deposit size affects each scheme.
These calculations are estimates based on 2026/27 HMRC and DVLA rates. Speak to a lender or qualified financial adviser for a personalised quote.