Personal Contract Purchase

PCP can keep your monthly payments lower by deferring a significant proportion of the amount of credit to the final payment at the end of the agreement.

Agree an initial deposit, how many miles you are likely to travel each year and how long you want the agreement to run for and we will then calculate the Guaranteed Future Value (GFV) of your vehicle and confirm your monthly payment.

How it works

  • Choose your pre-owned or new car. Cars up to three years old can also qualify.
  • Agree your maximum annual mileage—up to 24,000 miles a year.
  • Choose to repay over two or four years
  • Agree your deposit with us.
  • Borrow any amount between £1,500 – £250,000
  • Set payments to suit your budget.
  • At the end of the agreement you have three options to choose from as below.

What you pay

  • You pay a flexible deposit on the car, typically 10% or less of the cash price
  • We obtain the Guaranteed Future Value (GFV) of the car from lender*
  • You pay equal monthly payments over the chosen period
  • At the end of the agreement, you have three final options as below

Then at the end of the term you have 3 options:

  1. Part exchange the vehicle subject to settlement of your existing finance agreement; new finance agreements are subject to status.
  2. Return the vehicle and not pay the Final Lump Sum Payment. If the vehicle is in good condition and has not exceeded the allowed mileage you will have nothing further to pay. If the vehicle has exceeded the allowed mileage a charge for excess mileage will apply.
  3. Pay the Final Lump Sum Payment to own the vehicle.

And you have 2 to 4 years to decide which option to choose.

Please call our finance department today on 08450 230 100 to discuss your requirements and let us find your next car.

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