New Car Savings Planner
Save the deposit — or the full price — without a five-year finance chain.
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Your goal
Your roadmap
£14,500 to go
731 days · 104.4 weeks · 24 months until 3 Aug 2028
Success score
Per day
£19.84
Per week
£139
Fortnightly
£278
Per month
£604
Trim monthly spending
You'd need 86% of your disposable income. Cutting £135/month from subscriptions and takeaways typically closes half the gap.
Add extra side income
Tutoring, freelance, weekend shifts or reselling can add £200–£400/month — often the difference between stretch and comfortable.
Assign your next bonus
A £1,000 workplace bonus routed straight to this pot advances your target date by ~1 month at current pace.
Motivation
You've already covered 3%. Small wins compound — a £5/day cut equals £150/month.
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How to plan a new car fund
- 1
Budget 15% of the car price for insurance, tax, MOT and first-year servicing.
- 2
A 2–3 year old ex-lease car offers the best value per pound.
- 3
Save the equivalent of a PCP monthly payment for 12 months first — it also proves affordability.
- 4
Avoid dealer add-ons: GAP insurance, paint protection and extended warranties rarely pay back.
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FAQs
Is it better to save or use PCP for a car?+
Saving avoids 8–12% APR and mileage penalties. PCP suits people who want a new car every 3 years and don't mind never owning it.
How much should I put down as a deposit?+
20–30% keeps monthly payments manageable and reduces total interest. 40%+ is even better.
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