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Borrowing & debt

Whether you're weighing up a loan, trying to clear a credit card, financing a car or getting on top of what you owe — here are free calculators to run the numbers, plain-English guides to explain the jargon, and where to get free, confidential debt help.

Where to start

Calculators

Loan repayment calculatorMonthly payments, total interest and the true cost of a personal loan — plus what overpaying saves.Credit card payoff calculatorHow long a balance takes to clear, and what the minimum-payment trap really costs versus a fixed payment.Car finance calculatorPCP and HP monthly payments, the balloon and total cost to own, side by side.Balance transfer calculatorWhether a 0% transfer is worth the fee: interest saved, break-even and if you clear it in time.

Guides

How credit card interest worksAPR to a daily charge, the grace period that means £0 interest, and how to clear a card faster.PCP vs HP explainedBalloon payments, lower monthlies, voluntary termination and how to choose your car finance.What is APR?Representative vs personal APR, how it differs from the interest rate, and AER vs APRC vs EAR.Getting out of debtFree help, priority debts, the snowball and avalanche methods, and when to seek a formal solution.

Struggling with debt? Help is free

If debt feels overwhelming, free and confidential advice is available whenever you're ready — and you never need to pay a company for it. These charities can help with budgeting, talking to your creditors and understanding your options:

MoneyHelperStepChangeNational DebtlineCitizens Advice

Common questions

Which borrowing calculator should I use?

Use the loan calculator for a personal loan, the credit card payoff calculator to see how long a card takes to clear, the car finance calculator to compare PCP and HP, and the balance transfer calculator to check whether a 0% deal beats its fee. If the terms are unfamiliar, start with the “What is APR?” guide.

Is it better to pay off debt or save?

As a rule of thumb, clearing debt usually wins because the interest you pay on borrowing is typically higher than the interest you earn on savings — so paying off a 24% credit card beats a 4% savings account. The common exception is keeping a small emergency buffer so you don’t have to borrow again. This is general information, not financial advice.

What is the cheapest way to borrow?

It depends on the amount, the term and your credit profile. Lower-APR borrowing over a shorter term costs less overall, and a 0% deal can be cheapest if you clear it before the promotional period ends. Always compare the total cost, not just the monthly payment — a lower payment over a much longer term can cost more.

Where can I get free help with debt?

Free, confidential and impartial debt advice is available from MoneyHelper, StepChange, National Debtline and Citizens Advice. They can help with budgeting, talking to creditors and your options — you never need to pay a company for debt help.