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Cars & Motoring2 min check
PCP vs Lease vs Cash Calculator
Step 1 of 20%
How it works
We total deposit + monthly payments × term for both. PCP includes a Guaranteed Future Value (GFV) you can pay to keep the car, refinance or hand back. Lease has no buyback — you simply return it.
Worked example
£30k EV: PCP £4k deposit + £350/m × 36 + £18k optional balloon = £16,600 spent (£34,600 if buying). Lease £4k + £305/m × 36 = £14,980 — and you walk away.
Who should use this
- •Drivers choosing between finance options
- •Company-car-eligible employees
- •People who upgrade every 3 years
Common mistakes
- ×Going over annual mileage limit (charged 8–14p/mile excess)
- ×Over-spec'ing a lease — every option adds to monthly cost
- ×Damaging a leased car beyond fair wear & tear (BVRLA guide)
- ×Treating PCP balloon as 'buy price' — usually higher than market value
Frequently asked questions
Is leasing wasted money?▾
No more than renting. You pay for the depreciation, just like buying — but with predictable cost and warranty cover.
Can I exit early?▾
Voluntary termination on PCP at 50% paid; lease early termination usually means most remaining payments.
Should I buy outright?▾
Cheapest long-term if you keep cars 6+ years. Worst if you want to change every 2–3 years.