Personal Contract Purchase (PCP) Explained
PCP offers lower monthly payments with flexible options at the end. Perfect if you like to upgrade regularly or want payment flexibility.
View Cars with PCP FinanceHow PCP Works
Understanding the PCP process and your options
Choose Car
Select your vehicle and agree mileage
Pay Deposit
Make initial payment (usually 10-30%)
Monthly Payments
Lower payments over 24-48 months
Choose Option
Return, buy, or part-exchange
Complete
Enjoy your choice of outcome
Your Options at the End
PCP gives you three flexible choices when your agreement ends
Hand back the keys and walk away with nothing more to pay (subject to condition and mileage)
Pay the Guaranteed Minimum Future Value (GMFV) to own the car outright
Use any positive equity as a deposit on your next car
Pros and Cons
- Lower monthly payments compared to HP
- Flexible options at the end of the agreement
- Protected from depreciation with GMFV
- Can upgrade to a newer car easily
- Option to hand back the car with nothing more to pay
- Warranty usually covers the entire agreement period
- Mileage restrictions apply (excess charges for going over)
- Potential charges for excessive wear and tear
- Don't own the car unless you make the final payment
- More complex than HP with multiple end options
- May cost more overall if you always want to own
Is PCP Right for You?
See if these scenarios match your situation
Perfect if you like to change cars every 2-4 years
"Emma loves having the latest technology and upgrades her car every 3 years with PCP."
Ideal if you want lower monthly payments
"Tom needed lower payments to fit his budget. PCP gave him £150/month less than HP."
Great if you want warranty coverage throughout
"Lisa wanted worry-free motoring. PCP kept her car under warranty for the full term."
PCP Finance Glossary
Understanding the key terms
Ready to Find Your Next Car?
Browse our inventory and see PCP finance options on every vehicle