Easily Compare Vehicles, Other Loans with Hire Purchase Calculator

Comparing repayments on vehicles at different prices, comparing the different funding options, comparing interest rates and preparing preferences for CHP funding is as easy as inputting a few figures. Our CHP computation device empowers car buyers to do their own repayment calculations before they buy and before they apply. Free and easy to use – get started now!

Hire Purchase Calculator Empowers to Compare & Prepare

Advertised driveaway prices are great as a guide, but when vehicle HP financing is required, the monthly repayment figures are usually far more significant to business owners. The repayments are what need to work with cash flow and to achieving the target ROI on the investment.

Our HP buying tool enables buyers to work out their financing estimates quickly and easily. The tool is accessible from any device with connectivity. Buyers can be quickly calculating estimates while at a dealership, attending an auction for second hand vehicles or in their office or home. Fast, convenient and essential for buyers that want to save time and be prepared.

If undecided as to which credit facility is best suited to the business, this tool allows operators to compare the different options in regard to repayments. Providing a clear picture of the different outcomes for HP compared with Leasing and Chattel Mortgage.

  • Compare HP repayments on different vehicles.
  • Make decisions around no deposit or making a downpayment.
  • Be better prepared when submitting car loan application.
  • Plan budgets for upcoming vehicle acquisitions.
  • Generate repayment estimates on new and used vehicles.
  • Free to use with no obligation.
  • Calculate estimates for any number of vehicles.
  • Compare HP on different makes and models.
  • Empower to make critical buying and financing decisions.
Loan Amount Loan Term
Loan Product Interest Rate Monthly Repayment
{{Loan Product}} {{From - Advertised Rate}}
{{Rate Type}}
${{Payment Amount}}
Monthly
*The comparison rate shown is calculated based on a $30,000 loan for a 5 year term. The results derived using this calculator should be utilised for indicative purposes only. The repayments calculated are based on the advertised interest rates and do not include the charges and fees applicable by lenders. The results shown do not in any way represent a pre-approval or re-qualification for finance, they do not represent a finance quote. The exact details pertaining to your finance will be provided in any loan contract or offer. It is advised that those seeking loan quotes contact us directly so tailored advice can be provided.
Young Asian woman showing a coin while charging her electric car.

Easy-to-Use Car Hire Purchase Calculator

Our HP computation device takes all the complexities and confusion out of working out roughly how much HP car finance may cost. Anyone can use the device to obtain estimates on any vehicles and as many vehicles as required.

Key to getting the most benefit from this device is appreciating its functionality. The most important aspect is that the device does not allow for the HP fees and lender charges which may apply. These fees vary with different lenders and until we determine which lender is best suited to your credit requirements, those elements will not be known. The result is that the repayments shown are estimates and to be used as a guide only.

  • Vary amounts to compare vehicle prices.
  • Vary terms and balloon to plan HP structure preferences.
  • Vary interest rate to compare HP with Leasing and Chattel Mortgage.

 

The device also does not have the functionality to assess the creditworthiness or the financial position of the user. This can only be determined when one of our lenders assesses the application. Any quote we provide can vary from the results shown on the device.

To use the device simply enter the amount that you require which can be the full purchase price of the vehicle. Enter the term preferred – we can achieve up to 7 years on commercial vehicle financing. Enter the preference for the balloon – this is the percentage payable at the end of the term. Enter the interest rate we are currently offering on CHP. Click calculate and you’ll have your estimated repayment for those values.

If the amount is higher or lower than expectations and preferences, simply change the term or the balloon to receive a different result. Note the results with the term and balloon entered for later reference. The device does not store the calculations in a memory.

Woman smiling and holding her phone while charging her electric car.

What is Car Hire Purchase?

HP or CHP is a commercial credit product used for funding a range of business assets including motor vehicles. It is compatible with both cash and accruals accounting methods, attracts a low interest rate in line with Chattel Mortgage and offers tax deductions via depreciation of the motor vehicle.

  • Flexible, affordable Hire Purchase Car Finance.
  • Fixed competitive rates, Fixed Terms up to 7 years.
  • Tax deductions with vehicle depreciation.

Two Happy and young adults with backpack renting their electric car.

Hire Purchase Calculator Easiest Way to Compare Interest Rates!

Interest rates can be confusing when buyers are trying to do mental calculations as to how that rate factors out in repayments. We’ve made the process easy with our computation device. Simply enter the amount, term and balloon required for the funding and automatically see the repayment estimates. Rates can vary for individual applications, but using our latest low rates is a great starting point. For a confirmed quote based on your individual requirements, request a quote now.

Hire Purchase Calculator Result in Budget? Request a Quote Now!

When you’ve done your calculations and the results shown are in budget and expectations, it’s time to obtain a confirmed quote based on your specific profile and individual requirements. That process is also quick and easy. Simply upload your information and we’ll provide a quick quote from a lender that is best suited to your details.

Empower yourself to make vehicle buying and financing decisions by preparing and comparing with our Easy Hire Purchase Car Calculator.

In order to provide the best experience, your details are saved on our secure server as you enter them.

Frequently Asked Questions
Hire Purchase Calculator

I used the Hire Purchase Calculator but the quote I received has a higher repayment amount. FAQ Arrow

The results shown on an online finance calculating device do not include lender charges and fees and does not allow for credit profile and other individual aspects of the users. Any quote received can be different from the calculated results..

Is using a Hire Purchase Calculator a commitment to proceed with a finance application? FAQ Arrow

No. Using a finance calculating tool is free to use without any obligation to proceed with requesting a quote or submitting an application.

Do I need to add GST to the Hire Purchase Calculator repayment estimates? FAQ Arrow

With CHP financing, no GST is added to the repayments so there is no need to consider that element when using a HP calculation tool.

How can I use a Hire Purchase Calculator to compare with Leasing? FAQ Arrow

Interest rates differ for HP and Leasing. To compare the two, simply enter the relevant interest rate while keeping the other figures the same.

What type of vehicles can the HP calculator be used for? FAQ Arrow

Financing on all makes, models, sizes and types of vehicles can be calculated with an online finance computation tool.

What interest rate do I enter when using the Hire Purchase calculator? FAQ Arrow

Rates offered by lenders will be subject to individual assessments of the application. For the purpose of receiving estimates, computation device users can enter the rates shown by the provider of the device.

Do I deduct the balloon amount from the total loan amount when using an HP calculator? FAQ Arrow

No. Enter the full amount required and the device will automatically deduct the balloon when calculating the repayment estimates.

If I’m trading in an old vehicle, do I deduct the trade-in offer from the loan amount when using the HP calculator? FAQ Arrow

Calculation device users should enter the amount that they require for financing. If a trade-in is used to reduce the vehicle purchase price and hence the amount required for finance, then it should be deducted from the total amount entered.

What percentage can I enter for the HP balloon on the calculator? FAQ Arrow

Balloon amounts will be subject to lender approval. Users can enter a range of percentages to arrive at a configuration that meets their preferences.

Can I enter the full purchase price of the vehicle as the loan amount in the calculator? FAQ Arrow

Yes. Where no deposit car financing is required, users can enter the full price including any options and accessories and dealer delivery charges.