PCP Car Finance

With PCP (Personal Contract Purchase), you decide:

• How much deposit you want to put down
• The length of the contract (the length of time you intend to keep your car, a typical contract would be 3 years)
• The annual mileage you think you will do

Monthly payment are then calculated based on the Guaranteed Future Value (GFV) of your car. The GFV is simply how much your car will be worth at the end of the contract based on its age and milage. PCP monthly repayments are usually noticeably much less than HP finance, because of the final GFV payment. At the end of the contract you have three options:

• Pay the GFV and your car is yours to keep
• Part exchange your car for a different car*
• Return your car and walk away**

*Subject to settlement of your existing finance agreement; new finance agreements are subject to status.
**Subject to your car being returned on time, in good condition (fair wear and tear accepted, within the maximum mileage and all the required repayments having been made).