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How it works

  • A Personal Contract Purchase (or PCP) agreement is a way to purchase a car with a deposit and monthly payments. It also gives you additional flexibility since part of the cost of the car is deferred until the end of the contract
  • The deferred amount is known as the Guaranteed Future Value (GFV) sometimes called an Optional Final Payment or Balloon Fee. This gives you the benefit of tailoring your monthly payments to suit your budget.
  • Personal Contract Purchase is a flexible car finance option, especially if you’re unsure what you will want to do with your vehicle at the end of your contract or require lower monthly payments than a standard Hire Purchase Contract.
  • Together with our brands we offer PCP agreements that include your tax, your insurance, your warranty, roadside assistance and servicing.

At the end of the agreement, you have 3 options:

  1. Part exchange your vehicle for a new one and start another contract, paying any excess mileage and/or damage (if applicable). 
  2. Return your vehicle to us, paying any excess mileage and/or damage (if applicable). Should excess mileage and damage impact the value of your vehicle it could be worth less than the GFV, meaning that additional payment could be necessary.
  3. Keep your car, by paying the Guaranteed Future Value

Did you know that Personal Contract Purchase is available on both new and used vehicles? Visit a dealer or one of our brand websites to find out more.