PCP Finance

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Personal Contract Purchase (PCP)

A Personal Contract Purchase (PCP) agreement is a form of a Conditional Sale, and has a reduced monthly payment due to part of the cost being deferred until the end of the agreement. The deferred amount is known as the Guaranteed Future Value (GFV), this is sometimes referred to as an Optional Final Payment or a Balloon Payment.

How does a PCP work?

At the end of your agreement, you have several options:

Option 1
Part-exchange your vehicle and use all or part of any equity above the Guaranteed Minimum Future Value as a deposit on your next vehicle.

Option 2
Keep and become the owner of your vehicle by paying the Guaranteed Minimum Future Value.

Option 3
Refinance the final balloon payment.

Option 4
Return your vehicle to the lender and have nothing further to pay, this is subject to vehicle condition and that the vehicle is within the agreed mileage terms. (Always read the lender terms and conditions).

Features & Benefits

• Flexible deposit
• Low fixed monthly payments
• Several options at the end of the agreement
• Potential lower payments than Hire Purchase (HP)