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Personal Contract Purchase (PCP) Finance
At Car-finance.net one of the most popular choices of finance is Personal Contract Purchase (PCP).
Why is it so popular? What is PCP finance and how does it work?
Will PCP finance suit my needs?
Let’s take a closer look at Personal Contract Finance and find out.
What is PCP finance?
Personal contract purchase finance (PCP) is a very flexible type of finance.
An amount of the total cost is deferred to the end of the contract.
This amount is called the Guaranteed Future Value (GFV).
PCP finance gives you the freedom of choice at the end of the contract.
How does PCP finance work?
You make a deposit and the Guaranteed Future Value will be estimated.
The deposit and the GFV are subtracted from the total price and your monthly payments will be based on the balance.
At the end of the contract you will have a few choices. You can buy outright for an agreed lump sum (the GFV), sell, part-exchange, or walk away with no further obligation (subject to terms and conditions).
What are the benefits of PCP finance?
• You will have little or no initial deposit.
• Your monthly repayments are reduced due to the deferred GFV.
• The interest rates will be fixed for the duration of the contract.
• The GFV is guaranteed by the lender.
• At the end of the contract you have the flexibility of choice.
If you have any further questions regarding PCP finance please
Call on 0845 680 1508.
