Finance

Personal Contract Purchase (PCP)

This is the most popular way to pay for a car and is ideal for customers who wish to change their car at intervals between 24 and 48 months taking away the worry of depreciation.

How does it work?

Choose the car (new or used) you like.

Choose the most suitable repayment period.Agree on your annual mileage.You are given a Guaranteed Minimum Future Value which becomes your optional final payment.You decide on the deposit and payments suitable for your budget.At the end there are three choices for you; part exchange your vehicle for another car, keep the car and pay the final payment, or hand it back and have nothing further to pay.

What are the benefits?

Fixed monthly payments mean you always know what you will be paying, so there are no nasty surprises.

A Guaranteed Minimum Future Value, so you know from day one the minimum you will receive as a part exchange in the future.

Lower monthly payments than traditional forms of funding because the final payment at the end reduces your monthly commitment.Changing your car regularly saves money on repairs and maintenance.

PCP can be arranged for private individuals and business customers.

Hire Purchase (HP)

The most straightforward method of purchase. Ideal for a customer who desires outright ownership of their car and probably changes their car at intervals of greater than 48 months.

How does it work?

Choose the car (new or used) you like.Choose your most suitable repayment period between 12 and 60 months.You agree on a deposit and monthly repayment to suit your budget.At the end of the agreement as long as all the payments have been made the car is yours to keep.

What are the benefits?

At the end of the agreement you own your car with nothing further to pay.

Fixed monthly payments help with your budgeting.

HP can be arranged for private individuals and business customers.

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