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ARE ONE OF THE UK's LEADING PCP FINANCE SPECIALISTS IN THE FOLLOWING AREAS.
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Personal
Contract Purchase (PCP) - Frequently Asked Questions
Car-Finance.net
offer great deals on Personal Contract Purchase (PCP), you can read all
about PCP below before deciding whether it is the right product for you.
Hire Purchase (HP), Contract Hire or even Outright Purchase are other
options to consider.
If
you wish, you can Get
a Quote now for PCP, please click here to use our finance calculator,
otherwise please read on to find out more about Personal Contract Purchase
(PCP).
PCP
is one of the best ways to buy or finance a car today, It allows you to
purchase the car of your choice at a very attractive, fixed monthly payment,
with the benefit of a low initial deposit with a guaranteed minimum future
value (GMFV) at the end of the agreement.
Car-finance.net
has the benefit of offering both low interest rates (From just 6.9%
APR) for PCP and this together with the industry leading GMFV's make
cars that would seem just a dream become a reality.
PCP
is particularly useful if you are a company car driver opting out of the
company car scheme (Cash for Car), because you can use your company car
allowance or mileage reclaims to fund your monthly PCP payments and avoid
paying excessive company car taxes.
Monthly
payments are fixed for the repayment period, which is normally two or
three years. The flexibility of PCP allows for your individual needs giving
you three options at the end of the agreement:
Option
1
If you think the vehicle is worth less than the GMFV you can simply return
it to the finance company. As long as the vehicle is in good condition
and has not exceeded the agreed mileage set at the beginning of the contract,
you have nothing more to pay, the finance company guaranteed this future
value and they will absorb any loss.
Option
2
If you want to keep the vehicle, you simply pay off the outstanding GMFV
to the finance company.
Option
3
You can part exchange the vehicle with a motor dealer for your next new
vehicle. If the trade-in value is greater than the GMFV, this sum can
be used as a deposit for your next new vehicle finance.