Personal Contract Purchase (PCP)
Similar to a Conditional Sale contract but with additional flexibility since part of the cost is deferred until the end of your contract.
At the start of the contract we’ll set this optional final payment for the car, this will be based upon your chosen term and approximate annual mileage.
You select the deposit you wish to pay and then make monthly repayments based on the outstanding loan balance, less the optional final payment.
Conditional Sale (CS)
Trade in your existing car and put this towards your initial deposit, or select the deposit you wish to pay, if any at all, and structure the contract to your requirements. Select a term and make regular monthly repayments to repay the balance, it’s that simple.
As your interest rate is fixed, you have a guaranteed monthly payment, allowing you to budget with confidence. Once all the monthly repayments have been made, you will own the car.
Personal Contract Hire (PCH) on New cars only.
Personal Contract Hire is the choice favoured by most people who would prefer to lease a car, rather than own one. You pay an initial upfront advance rental (amount dependent on size of monthly rental), usually the equivalent to three, six or nine monthly rentals. You then pay a fixed monthly rental fee (plus VAT) and in return have the right to use your chosen car over a pre-agreed period and mileage.
At the end of this period you are not responsible for the disposal, you simply return the car without further cost, providing it has not exceeded the agreed mileage and the condition is reflective of its age and mileage. There is no option to own the car at the end of the contact.
Please contact us if you require additional information.