Finance Options to suit your situation
For a quotation, help, or advice contact your local
dealership and ask to speak to a Finance and Insurance
Specialist.
Find out more about our Finance Options:
Personal Contract Purchase
Personal Contract Purchase (or 'PCP') has been developed and
has been increasingly used since the introduction of the new
company car tax rules in 2002.
Benefits of Personal Contract Purchase:
- Low initial deposit
- No 'Benefit in Kind' tax
- Fixed payments
- Maintenance package facility
- You can drive the car of your choice
- No risk on the residual, subject to mileage and
condition
- Optional final/balloon payment
- Eventual ownership if desired
Many individuals crippled with the Benefit in Kind tax have
opted for this method of funding their cars.
As with Contract Purchase and Contract Hire, the chosen terms of
the contract i.e. age, mileage and duration will determine the
balloon payment.
The balloon payment is the higher final payment required to own
the vehicle outright.
At the end of the agreement the purchaser may pay the residual
amount and take ownership or simply hand the car back to the
provider.
Charges will be made for excess mileage and any damage, which is
considered to be over and above Fair Wear and Tear.
This form of contract is between an individual and a provider
and therefore the individual will not be liable to pay Benefit in
Kind tax.