Personal Contract Purchase (PCP)
PCP is great if you want to change or upgrade your car or motorcycle at the end of the finance term.
Under a PCP agreement we guarantee the minimum the vehicle will be worth at the end of your agreement based on the agreed annual mileage and maintenance of the vehicle. This value is known as the ‘Guaranteed Minimum Future Value’ and by deferring this to the end of the term, you could benefit from lower fixed monthly payments compared to our HP and CS products.
A deposit of around 10% is usually required and the term can be 1 - 4 years. The finance is also secured against the vehicle.
At the end of the term you have three options: