Personal Contract Purchase (PCP)

If you want the option to change or upgrade your vehicle at the end of the agreement.

Spread the cost of your vehicle with a guaranteed minimum future value

You pay a deposit, and the remaining cost of the vehicle is split into monthly repayments over the term of the agreement. We guarantee the minimum amount the vehicle is worth at the end of the agreement (the GMFV).

With PCP, you could benefit from lower fixed monthly payments compared to Hire Purchase and Conditional Sale.

Available for: cars and motorcycles

Initial deposit

You put down a deposit of around 10% of the vehicle price and pay the remaining cost of the vehicle over the term of the agreement.

Fixed monthly repayments

Monthly repayments are fixed during the agreement and spread equally throughout the term, including interest. The agreement is up to four years (48 months).

Guaranteed minimum future value (GMFV)

We guarantee the minimum value that the vehicle will be worth at the end of the agreement, based on agreed annual mileage and maintenance of the vehicle. (If you drive more miles than the agreed annual mileage or the vehicle is damaged beyond our fair wear and tear standards, you may need to pay additional charges).

Choose to own, return or exchange the vehicle

At the end of the agreement, you can choose one of three options: pay the ‘option to purchase’ (OTP) and Guaranteed Minimum Future Value (GMFV) fees to become the legal owner of the vehicle, hand it back to us and walk away, or part-exchange it for a new one.