A Personal Contract Purchase (PCP) is an alternative form of leasing with added benefits. Unlike leasing or Hire Purchase (HP), you have more flexibility and options at the end of the agreement.#

We’ll confirm how long you want to keep your new car and how many miles you’ll drive each year. This allows us to calculate a Guaranteed Future Value (GFV). The Guaranteed Future Value is the value of your new car at the end of the agreement based on your annual mileage and term.

The Guaranteed Future Value is then subtracted from your amount to finance, meaning repayments are generally smaller vs Hire Purchase or leasing. Once you’ve made your final payment you have 3 options.

• Re-finance the Guaranteed Future Value and keep the car
• Return the car to the finance lender
• Part exchange towards a new PCP deal

If you decide to part exchange and the value is higher than the Guaranteed Future Value, then this can be used as a deposit towards a new car. If it’s lower, the Guaranteed Future Value protects you.

A Personal Contract Purchase is a great option if you want to lower your monthly payments and like to update your car regularly.

It’s important to remember, that a Personal Contract Purchase isn’t available on every vehicle. If the car is older, or over a certain mileage then limitations can apply. We’ll be happy to confirm this with you.

Absolutely. You can get a price for your old car online, it’s easy and only takes a couple of minutes. If you have an existing finance agreement, we recommend confirming your settlement figure beforehand. This means we can calculate your repayments and progress your new application without delay.

In some cases, you can, but every agreement is different. We’ll be happy to confirm this with you.

Absolutely, we have a wide panel of lenders, each with varying criteria. We’ll be happy to progress your application and answer any questions you have along the way.

Sub-prime finance is not guaranteed and may cost more than finance provided by a prime lender. We will try to obtain finance for you but there is no guarantee. It may be from a sub-prime lender, and if so, the cost of finance may likely be at a higher rate than prime lenders offer.

All applications require what’s called a ‘hard search’. These are displayed on your credit report and are visible to any prospective lenders. Although it’s not bad, it’s best to avoid too many applications as this can impact your credit score.

If you’ve seen a car online, we recommend confirming your eligibility with our free credit check option. You’ll find this on our vehicle pages under the ‘Can I get credit’ option. This search won’t affect your credit score because it’s a soft search - it’s a great way of checking your affordability too.

In short no, we do have other options though if you’re looking to sell or part exchange your old car. We’ll be happy to discuss your options and answer any questions.

It’s easy to apply online, over the phone or in-store. If you apply online, you’ll get an instant decision in minutes from our wide panel of lenders. You can quickly tailor your deposit and part exchange and see your monthly payment upfront.

To apply, we’ll confirm your annual mileage, how long you want to keep the car and your deposit.

We’ll keep you up to date and answer any questions you have along the way.

It’s easy to apply for Personal Contract Purchase finance online, in-store or over the phone. All we need is:

• Employment details
• 3 years address history
• Bank account details
• A copy of your driving license