Most used-car finance is a loan secured on the car. You pay a deposit, then a fixed number of monthly payments. At the end of a typical hire purchase agreement you have paid for the car, plus the cost of borrowing.
The three numbers that matter
The monthly payment is the one in the advert. It is not the whole story. Also look at the total amount payable, which is the deposit plus every monthly payment, and the total cost of credit, which is how much the borrowing itself adds.
APR
APR is a way of comparing the price of credit. A lower APR is cheaper only when the term and the amount borrowed are the same. Our calculator uses a sample APR. A real lender sets the rate after they look at your application. That is not guaranteed, and it is not done without a check.
What we do not ask here
This demo never asks for your bank login or your salary. A real application will ask about income and spending, because the lender has to consider whether the payments are affordable. You should be 18 or over.