Personal Contract Purchase (PCP)

A Personal Contract Purchase (PCP) is a financing option commonly used for purchasing cars. With PCP, you make monthly payments over a fixed term, usually 2-4 years. At the end of the term, you have three options:

1. **Return the Car:** You can return the car to the dealer, provided it meets certain agreed-upon conditions regarding mileage and condition. If it does, you can walk away with no further obligations.

2. **Purchase the Car:** You have the option to buy the car outright by paying the remaining predetermined amount, often called the "balloon payment" or "Guaranteed Minimum Future Value" (GMFV). This value is set at the beginning of the contract.

3. **Start a New Agreement:** If you want a new car, you can use any remaining equity (if the car's value exceeds the GMFV) as a deposit for a new PCP agreement on a different vehicle.

PCP can offer lower monthly payments than HP for the same vehicle because you are essentially only financing the depreciation of the car rather than its full value!

From the menu, click on "Used Cars" to see our current special offers.....