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Rates from 6.9% | 8.9% APR Representative

PCP Finance

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8.9% APR Representative

We are a credit broker, not a lender

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Representative Example – Personal Contract Purchase: Cash Price £35,000.00, Deposit £2,000.00, borrowing £33,000.00 over 4 years at 8.9% Representative APR (fixed). 47 monthly payments of £496.83 followed by a final payment of £18,590.00. Total cost of credit of £8,941.01 and total amount payable of £43,941.01. Based on 8,000 miles per annum, excess mileage charges will apply if this is exceeded. Finance subject to status 18+ only. 

What is PCP finance?

PCP finance (personal contract purchase) is a cost-effective way to finance a car with a flexible deposit and three end-of-contract options: keep, trade, or return.

Originally introduced in the late 90s, it defers the car’s value (Guaranteed Minimum Future Value/GMFV) until the end of the contract, reducing monthly payments over traditional Hire Purchase.

This kind of agreement is typically taken over 4 years (48 months) with an average deposit of 10%, although a deposit isn’t always required, the lenders available to you may reduce if you choose not to add a deposit.

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8.9% APR Representative

We are a credit broker, not a lender.

What are the benefits of PCP finance?

PCP offers consistent, lower monthly payments due to the GMFV reducing the amount you actually pay off, along with a more flexible ownership cycle, allowing you to swap cars regularly. Most customers switch around 3 years into a 4-year agreement, using any positive equity as a deposit for their next car.

At the end of your term you can:

Return the car (must be in good condition and within mileage limits or you will be subject to charges).

Pay the GMFV to keep the car.

Part-exchange for a new vehicle.

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8.9% APR Representative

We are a credit broker, not a lender.

What are the risks of PCP finance?

In some situations a PCP agreement might become more expensive in the long run when compared to a HP. A smaller deposit at the beginning of your agreement can also cause issues should you exceed the limits of your agreement with financial penalties for excess mileage etc.

Remember, unless you pay the balloon at the end of the agreement in full, the car isn’t yours. Exceeding contract limits can have financial repercussions.

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8.9% APR Representative

We are a credit broker, not a lender.

Mercedes CLA35

PCP Finance Example

8.9% APR Representative

We are a credit broker, not a lender

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Audi Q3

PCP Finance Example

8.9% APR Representative

We are a credit broker, not a lender

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BMW 330e M Sport

PCP Finance Example

8.9% APR Representative

We are a credit broker, not a lender

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Representative Example – Personal Contract Purchase: Cash Price £35,000.00, Deposit £2,000.00, borrowing £33,000.00 over 4 years at 8.9% Representative APR (fixed). 47 monthly payments of £496.83 followed by a final payment of £18,590.00. Total cost of credit of £8,941.01 and total amount payable of £43,941.01. Based on 8,000 miles per annum, excess mileage charges will apply if this is exceeded. Finance subject to status 18+ only. 

Got questions?

Our team are on hand to help answer any queries you may have. You can call us, chat with us on WhatsApp and Live Chat or get in touch using the contact form in the footer.

FAQs

  • You can use our calculator to get multiple finance quotes in just a few taps, we show you the lowest APR and monthly payment options we have available from our lenders, for PCP, HP and HP + Balloon (depending on qualifying vehicles).

    If you’d prefer, our team can walk you through the finance options we have available to you on the phone, via email, live chat or WhatsApp.

  • You can use our calculator to get multiple finance quotes in just a few taps, we show you the lowest APR and monthly payment options we have available from our lenders, for PCP, HP and HP + Balloon (depending on qualifying vehicles).

    If you’d prefer, our team can walk you through the finance options we have available to you on the phone, via email, live chat or WhatsApp.

  • Yes, car finance is available for both new and used cars. Terms may vary based on the car’s age and condition. There are limits to what a regular PCP or HP agreement can finance, with older cars of higher value we can look to use a HP + Balloon agreement with some lenders (dependent on qualification terms)

  • Deposits typically range from 10% to 20% of the car’s value, some lenders may require a minimum deposit to be added to be able to borrow from them.

  • Yes, but this will depend on the amount you are looking to finance, and the lenders available will be limited. For lower value vehicles this is normally not an issue, but it will take longer for you to pay off your finance.

    The average deposit is usually 10% of the price, and on higher value vehicles the lender may ask for a larger deposit depending on your situation.

  • No, this kind of finance is not something our lender panel can offer.

  • Yes, but you may need to provide proof of income, such as pension statements etc. Our team will discuss this with you.

  • Yes, you can finance a private sale, but the options for this are limited and there are requirements that must be met to be able to fund one, along with a minimum vehicle value of £30,000. Please speak to our team if you are looking to finance a private sale.

  • Yes, most agreements allow early repayment, but you may incur early settlement fees (usually 58 days of interest), but this is dependent on the lenders terms and the type of finance facility you take out.