I've changed my mind about PCP after I've applied. How long until I apply for a loan.

[Airconblows]

There's a car I want to buy. I was offered finance PCP at £220 a month over 4 years with a final payment of £8k and 12k miles per year limit.
I was perfectly happy with this but hadn't finished the deal yet.
I've been playing on my loan calculator on my banking app and I can get a loan for £235 a month over 5 years but no balloon payment and I'd not be concerned about how many miles I'm doing.
I've decided I'd prefer to use a loan. My app says the loan is 'highly likely' to approve me but I don't know if it knows I applied for the PCP finance yesterday. I don't want to lose this car but what will happen to my credit score if I apply for two loans essentially in 2 days?
Or is it worth risking losing the car and leaving it a while before I apply for the loan and just hoping this car is still available? And if so, how long?

I think you get a 'cooling off ' period with finance applications. Halt the application today.

If you make the balloon payment at the end and buy the car outright then the miles don't matter. They only matter if you give the car back.

My PCP had 0% interest, whats the interest rates of the different loans?

Rereading it I'm confused how there's a £8k difference at the end of the loan?

The extra £15 per month isn't paying that off 🧐

Is it your credit rating you're worried about? As in applying for two loans in quick succession?

If this is what you're concerned about, I'd apply sooner rather than later as your PCP might not have registered in your credit score just yet. This is my opinion so might not be right.

But your credit rating will take a dip if you've had two hard searches on your file, but it will go back up after a few months.

Just a word of warning, I did similar calculations when getting a new car as I didn’t want a PCP and the loan repayments suggested very reasonable re-payments (can’t remember the exact details but would have paid back say £25,000 on a loan of £20,000 to own the car outright but when I actually applied for the loan, from a well known high street bank the interest rate offered would have meant paying back over £30,000. I had another option to borrow the money so I would apply for the loan to double check. When I went pick the car up I paid two months of pcp payments to get a discount offer on the deposit then paid off the balance, buying the car for list price exiting the pcp plan without having to pay the balloon payment. The sales person said loads of people do this to get discount offers it was really straightforward) no idea if it’s had an impact on my credit rating though, I don’t think it would?