Tesla Finance Calculator (HP & PCP)

Work out Hire Purchase or PCP on a Tesla — deposit, any dealer deposit contribution and your part-exchange included. See the monthly payment, the total amount payable, the optional final payment and your choices at the end, what overpaying saves, which term fits your budget, and every payment in the schedule.

Car & price
Options = paint, wheels, interior, tow bar, accessories. UK prices include 20% VAT, so there's no tax to add.
Sales tax
Most states tax only the difference. State base rate shown — add your local rate.
Part-exchange & deposit
A deposit contribution is money the dealer or manufacturer puts towards your deposit on some offers. Settlement figure = what you still owe on the car you're part-exchanging.
Finance
Type of finance
Term (months)
Leave the final payment blank to use a typical UK value.
Affordability check
Net monthly income after tax and NI. "Insurance etc." = insurance plus charging — the 15% guideline counts all car costs.
Monthly payment
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Amount of credit
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Interest & charges
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Total amount payable
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price, interest & fees
Payoff date
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At the end of the agreement

Estimated value uses a typical UK depreciation curve for the model at your expected mileage — real offers depend on condition and the market at the time.

Overpay each month

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Balance and interest over time

What you're financing

Can you afford it?

Compare terms at —

Same price, deposit and APR

Payment schedule

Show every monthly payment

How this is calculated

  • Amount of credit = cash price + options − cash deposit − deposit contribution − part-exchange equity (part-exchange value − settlement figure). Negative equity is added to the credit.
  • Hire Purchase spreads the whole amount of credit over equal monthly payments: P × r ÷ (1 − (1 + r)−n), with r = APR ÷ 12. Example: £40,000 at 6% over 60 months = £773.31. You own the car after the last payment.
  • PCP defers part of the credit to an optional final payment (the Guaranteed Minimum Future Value, or GMFV). The monthly payment covers the rest plus interest on the whole balance: (P − GMFV ÷ (1 + r)n) × r ÷ (1 − (1 + r)−n). That's why PCP payments are lower but total interest is higher than HP at the same rate.
  • Default GMFV = cash price × a typical UK retained-value figure for the model at the end of the term, adjusted about 0.4% of the price per 1,000 miles a year above or below 10,000. Lenders set their own figure, often a little below the expected value.
  • Total amount payable = everything paid under the agreement: deposits (including any contribution and part-exchange), monthly payments, the final payment and the option-to-purchase fee.
  • Equity at the end = estimated value at your expected mileage − the final payment. Positive equity can go towards your next car; if the car is worth less than the GMFV you can hand it back.
PCP or HP — which is cheaper?
At the same APR, HP costs less in interest because you repay the balance faster, but the monthly payment is higher. PCP suits you if you plan to change car at the end of the term; HP suits you if you want to keep the car for years. Switch between them above to compare.
Can I hand the car back early?
Under the Consumer Credit Act you can usually end an HP or PCP agreement once you've paid half of the total amount payable (voluntary termination), as long as the car has been looked after. You can also settle early at any time — ask the lender for a settlement figure, which includes a rebate of future interest.
What are the mileage limit and excess charge for?
The GMFV is set from your annual mileage. If you hand the car back having driven more, you pay the excess-mileage charge per mile. If you keep or part-exchange the car instead, the charge doesn't apply, but higher miles lower its value.

Estimates only, not an offer of finance. Your APR depends on your credit history, the lender and current offers — verify current terms.