Personal Contract Purchase (PCP)

We offer PCP finance. To apply for this finance option, please contact us on 0844 800 9406 and one of our finance specialists will help you with your application.

With PCP, a part of the amount financed and the final payment is deferred until the end of the repayment period which means your monthly payments are lower.

At the beginning of the period you will pay a deposit and have set monthly repayments.

An agreement is made with regards to the annual mileage, length of time for the agreement (usually 2 or 3 years) and a Guaranteed Minimum Future Value (GFV). This is the minimum amount the car is guaranteed to be worth at the end of the agreement which is deducted from the purchase price along with the deposit. The remainder of the finance charges for the agreement are divided into monthly payments.

At the end of the finance agreement you typically have 3 options:

• Pay the Final payment and keep the vehicle
• Sell your vehicle privately and use the equity as a deposit for your new car
• Return the car to the finance company (subject to Terms & Conditions)

PCP offers you:

• Flexible deposit amounts
• Fixed monthly payments for easy budgeting
• Defers a part of the loan until the end keeps monthly payments low
• Provides the reassurance of a Guaranteed Minimum Future Value
• Loan periods vary from 12- 48 months
• Competitive interest rate - fixed from day one
• Early settlement option

Other Information:

• Maximum age of car at end of finance agreement - up to 7 years depending on lender
• Maximum mileage of vehicle at end of contract 100k (only if you want to return the vehicle)
• Please note: Some lenders may charge a small setup fee which is normally added to the first monthly payment