Finance Personal Contract Purchase
Finance Option - Personal Contract Purchase
PCP is one of the most popular ways to purchase a car today. It allows you to drive the car of your choice at a very attractive, fixed monthly cost, with a low initial deposit.
The Company car Alternative: If you are a company car driver, PCP is a sensible alternative to the usual company car scheme because you can use your company car allowance to fund your PCP monthly payments without paying company car tax.
Monthly payments are fixed over the repayment period, normally two or three years. The scheme adapts to your individual needs giving you three options when the agreement ends:
Option 1
Your dealer will accept your car in part exchange for another vehicle. Any value over and above the optional final payment, as declared when you started the agreement, will be carried over toward
Option 2
If you want you can keep the vehicle, by making the optional payment and the small option to purchase fee (Approx. ?50).
Option 3
You can simply hand the vehicle back to the finance company or your dealer. Provided it is in good condition and you have not exceeded your agreed mileage, there is nothing more to pay.
Benefits of PCP:
- Ownership
- Low initial deposit
- Flexible deposit term
- Fixed repayments
- Optional final payment
- Low monthly payments
- Guaranteed equity available
