Personal Contract Purchase PCP – The features
Personal Contract Purchase or also known as PCP offers lower monthly payments to conventional Hire Purchase and flexibility at the end of the agreement. Payments are spread over an agreed period of between 24 and 48 months and at the end of the agreement there is a final “balloon” payment. There are four options available to you at the end of a PCP agreement.
1- Buy the car by paying the final “balloon” payment.
2- Part exchange the car for another.
3- Sell the car yourself and settle the final “balloon” payment.
4- Subject to the mileage and condition of the car, return it with nothing else to pay (subject to terms and conditions)
How it works.
Advise your annual mileage which will determine the estimated future value of the vehicle and final guaranteed “balloon” payment.
Agree a deposit and decide your term between 24 and 48 months.
Personal Contract Purchase PCP – The Benefits
Fixed Payments –Ideal for budgeting.
Fixed Interest – protects from fluctuations in interest rates.
Low Deposit – Doesn’t tie up valuable cash reserves.
Low Risk – Future value is guaranteed (subject to mileage, condition, terms and conditions)
Better car - lower payments than standard Hire Purchase allow you to purchase a better car for your budget.
Flexibility - Not using your personal bank facility with a vehicle purchase gives you greater financial flexibility.
Tax Benefits – Speak to one of our Client Managers about tax benefits for business users.
No VAT – There are no VAT payments on Lease Purchase agreements.
Call 08455 193 293 or apply online for a FREE QUOTATION.
All finance packages are subject to status and finance company acceptance. UK residents only.
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