Personal Contract Purchase (PCP)

• Do you want to change your car every few years?
• Do you want to avoid the risk of depreciation?
• Would you like the option to buy the car?

If the answer is YES to the above then Personal Contract Purchase (PCP) may be for you. 

 

You pay monthly payments and at the end of the PCP agreement (which can be between 2 and 4 years) you would have 3 options on what to do.

• The car can be purchased for a pre agreed value;
• The car can be handed back to the finance house with nothing further to pay as long as you keep within the contract mileage and look after the vehicle while in your care;
• You can part exchange the vehicle and once the finance has been cleared you can use any equity towards the deposit of your next car.

 

Main Features

You have no concern of the depreciation of the vehicle as you do have the option to hand the vehicle back subject to mileage and condition, meaning you will never be in negative equity situation.

 

The final guaranteed value means you can drive a better car or drive a car for less money.

 

The 3 options at the end enable a very cost effective way to motoring with flexibility.

 

OSV tip: “make sure you predict the correct annual mileage to make the most of this scheme”

 

If you don’t want the option to own then why not look at Personal Contract Hire?