PCP Extra Payment Calculator
Find out how much a lump sum payment towards your PCP balance would reduce your monthly payments and total interest. The extra payment is applied immediately to your outstanding balance.
Frequently asked questions
Can I make an extra payment on PCP?
Yes. You can make partial early repayments on a PCP agreement under the Consumer Credit Act. The lump sum reduces your outstanding balance, which means your remaining monthly payments can be recalculated to a lower amount. Contact your lender to arrange this.
Does an extra PCP payment change the GFV?
No. The guaranteed future value (balloon payment) is fixed at the start of the agreement and does not change regardless of extra payments. Your lump sum reduces the financed balance only, lowering the monthly payments needed to reach the GFV at the end of the term.
Is it better to save for a bigger deposit on my next car instead?
It depends on the APR. If your current PCP rate is high (above 7-8%), reducing the balance now saves more in interest than earning from a savings account. If your PCP rate is low, saving for a bigger deposit on your next car may be more efficient.
Will the lender recalculate my payments automatically?
Not always. Some lenders will recalculate your monthly payment after an extra payment; others will keep the same payment and shorten the term. Contact your lender before making the payment to confirm how they handle partial early repayments.
These calculations are estimates based on 2026/27 HMRC and DVLA rates. Speak to a lender or qualified financial adviser for a personalised quote.