The car and motorcycle finance professionals.

The car and motorcycle finance professionals

Get a quick quote or apply online.

Get a quick quote or apply online

Smart funding solutions...aggressively competitive pricing.

Smart funding solutions...aggressively competitive pricing

We will fund any new or used car/ bike from your chosen supplier.

We will fund any new or used car/ bike from your chosen supplier

Fully licensed for the sale of CCA regulated finance products.

Fully licensed for the sale of CCA regulated finance products

Delivering innovative funding solutions across the UK since 2004.

Delivering innovative funding solutions across the UK since 2004

Motorcycle finance deals to get you on the road.

Motorcycle finance deals to get you on the road

Personal Contract Purchase

Personal Contract Purchase (PCP) Explained

What is PCP?
PCP is similar to Lease Purchase, with a fixed interest rate and lending periods usually between 12 and 48 months. A deposit of 10% is normally required as a minimum,with monthly repayments and a final ‘balloon’ payment. The size of the balloon, or what’s known as the guaranteed future value (GFV) of the car, is based on the length of the loan and anticipated mileage. PCP contracts offer the opportunity to hand the vehicle back at the end of the agreement, provided the terms have been adhered to. How PCP works

Your monthly payments will be determined by your anticipated annual mileage, the guaranteed future value applied by the lender and of course the vehicle you wish to purchase and deposit payment. You are able to settle the agreement at any time. The interest rate, and payments are fixed for the term of the agreement. The main difference between PCP and Lease purchase is that PCP offers an option to return the vehicle at the end of the contract, whereas with Lease Purchase you are liable to settle the final balloon payment. PCP tends to be a slightly more expensive in terms of the interest rates applied compared to Lease Purchase.

What happens at the end of a PCP contract

  1. Make the final balloon payment and take full title (ownership) of the vehicle.
  2. Hand the vehicle back to the finance company (If you have exceeded the contracted mileage allowance, an excess mileage charge will be payable, as per the terms on your agreement at the end of the contract).
  3. Part Exchange the vehicle and use any equity towards another vehicle.

Summary
A PCP is a popular financing method for private users. Monthly payments are lower than with Hire Purchase or Personal Loan, and the guaranteed future value offers protection from excessive depreciation. PCP contracts can be settled at any time.

Click here for a bespoke quoteApply online here or contact us for further information.

3 SIMPLE STEPS TO ARRANGE THE CAR FUNDING YOU NEED AT THE LOWEST POSSIBLE RATE...
  • 1. Request a finance quotation based on the most cost effective way of financing your new Vehicle.
  • 2. We will arrange your loan facility (subject to status). This normally takes just an hour or two.
  • 3. We will arrange an invoice from the supplier and make payment (same day cleared funds) in time for delivery.