Personal contract purchase or PCP for short is becoming a very popular alternative to hire purchase for private users and consumers who have opted out of a company car scheme.
It is designed to be affordable and offers nil and up deposits as well as low monthly payments. It also allows individuals the opportunity to change their car on a regular basis.
Main benefits of personal contract purchase
- Low deposit and monthly payments
- Flexible allowing you to change regularly
- Protection against vehicle depreciation
- You can drive the car of your choice
Personal contract purchase - how does it work?
When you have chosen your vehicle, you will then agree your annual mileage and decide on the agreement term with one of our Business Managers.
We will then determine the Guaranteed Minimum Future Value (GMFV) of the vehicle at the end of the agreement and work out a deposit and monthly amount that works for you.
At the end of your agreement you will then have three options:
Return – Simply return the car the back to us
Retain – Keep the car by paying the optional final payment
Renew – Trade it in for another car
For a quotation, help, or advice contact your local dealership and ask to speak to one of our Business Managers at your local Evans Halshaw dealership