PCP - Personal Contract Plan

For many people today, a Personal Contract Plan, or PCP as it is often known, is the preferred route for funding their next new or used car. If it were more affordable would you change your car more often? If the answer is yes then our personal contract plan is an option that you should consider.  

PCP terms can be anything between 18 and 48 months in duration. The deposit you choose to pay, added to the optional final payment which is guaranteed by the finance company, is offset against the invoice price of the car and your monthly payments are then calculated on the remaining balance.  

At the end of your PCP agreement you have three options. Firstly, if the car is worth less than the optional final payment, which is guaranteed, then you can just return it to us, with nothing more to pay subject to terms and conditions of the mileage and condition of the vehicle and all monthly payments having been made.  

The second option is that you can pay the final payment and keep your car. Now it’s yours. Or thirdly, you can part exchange your car with us and purchase a new car using any additional deposit generated using any equity you may have in your current vehicle that is over and above the optional final payment. You can do this at any point throughout the agreement.  

In summary a PCP gives you the opportunity to have lower fixed monthly repayments - making your choice of a car more affordable whilst having the peace of mind of a guaranteed future value at the end of the agreement.