About PCP

Personal Contract Purchase, also known as PCP, offers great flexibility at the end of the agreement, combined with fixed, low monthly payments.

At the beginning of the agreement we will get a guaranteed future value generated, based on an agreed mileage. This is then deferred as a final payment made at the end of the agreement.

At the end of the agreement you have a several options:

  • Purchase the car, by paying the final balloon
  • Part-exchange the car, using any equity towards your next vehicle
  • Sell the car privately, retaining any equity once the balloon has been paid
  • Refinance the final balloon payment
  • Or, subject to the mileage and condition, return the car to the finance company
  • We can help you with all the above options to make it easy for you
Benefits

  • Flexible set up – you decide deposit and term to suit your financial needs
  • Low, Fixed Monthly Payments – you know all payments from day 1
  • A Better Car – you may be able to get a newer, higher specification car compared to a Hire Purchase agreement
  • Flexibility – You can change the car at any point during your agreement if it financially works

Before choosing PCP car finance, what you need to know:

  • If you choose to return the vehicle at the end of the agreement, additional charges may be applied if you have exceeded the mileage limit or has any damage not considered fair wear and tear for agreed age and mileage
  • You are bound to the terms of the finance agreement, so you should consider your ability to repay, even if your circumstances change. You do not own the vehicle until the sums required by the agreement have been paid, including the option to purchase fee. If you fail to keep up repayments, this will impact your credit rating and may impact your ability to obtain credit in the future. In the event of default, the vehicle may be repossessed without a court order, unless you have paid a third of the total amount payable.

For a quote for Personal Contract Purchase (PCP), please fill out the form below.

Get a quote


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