Personal
Contract Purchase (PCP)
A purchase method which spreads the
cost of a vehicle and removes the
risk of it's future value at
disposal. An agreed final payment is
set subject to a fixed mileage and
term. At the end of the term the
consumer can purchase the vehicle
outright OR return it to the finance
company subject to the mileage and
condition with no extra cost.
Features
Low initial outlay
Fixed budgeting
Maintenance option
Optional Final Payment
Pre-agreed contract mileage
(Excess mileage charges will
apply)
Personal
Contract Hire
A hire agreement where the vehicle
is paid for with monthly rentals. It
can include service and maintenance.
At the end of the agreement period
the vehicle is returned to the
finance company with nothing more to
pay, subject to pre-agreed mileage
and fair wear and tear. The VAT is
included within the rental and
cannot be reclaimed. Ideal for
Company Car drivers opting out.
Low initial outlay
Fixed budgeting and no disposal
worries
Full Maintenance Option
Pre-agreed contract mileage
(Excess mileage charges will
apply)
