Explained: Personal Contract Purchase (PCP) | Personal Car Finance UK
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Personal Contract Purchase (PCP)

Personal Contract Purchase (PCP)
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Personal Contract Purchase (PCP)

Personal Contract Purchase (PCP) agreements allow you to defer ownership of the vehicle until you reach the end of the contract. This means the vehicle is considered as hired or leased until you reach the end of your contract. This makes PCP agreements similar to hire purchase. However with PCP agreements, the monthly repayments are usually lower because you only pay for depreciation value of the vehicle, this calculated by the value of the vehicle at the beginning of the contract minus it’s value at the end of the contract, this is commonly known as “agreed residual value.”

Once the contract has ended, you can either return the vehicle back to the proprietor or make a “balloon payment” to the vehicles proprietor of the “agreed residual value” to buy the vehicle outright. This is usually referred to as a “balloon payment,” or you can part exchange your vehicle.

Use our finance calculator to see what you could borrow today; we have competitive rates, we consider all our applicants on an individual case by case basis, this way we can take all small personal factors into consideration when making a decision. You can call 0330 445 5505 and talk to one of our friendly members of staff who will help you with any queries.

Car Finance Option Personal Contract Purchase (PCP)
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U Car FInance
U Car Finance is one of the leading UK Car Finance Brokers, we are dedicated to giving our customers the best service as possible. We accept people who have been refused elsewhere, people with good credit, bad credit and people with no credit history at all.

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