PCP Car Finance (Personal contract purchase)
PCP Car finance deals with Socialmotors
PCP or Personal contract purchase – With personal contract purchase’ agreements you have the ability of deferring the ownership of the car till the end of the agreement, meaning you are basically hiring or leasing it.
This makes personal contract purchase’s the same as hire purchase agreement in some ways, although the period of time hiring the vehicle is generally lower, as they are based on the vehicle value at the beginning of the contract compared to the value at the end of the term that you have agreed (This is what is known the “residual value”).
The contract you sign represents your agreement to pay for the car on a continual monthly basis. Once your PCP agreement is complete you have the option to give the vehicle back to the seller or to buy it out right, via a lump sum that will represent the vehicle “residual value”
PCP car finance eligibility
To determine you are eligible for a PCP deal we will assess your credit file, this will give us the information we need to provide you the best options for you.
To be considered for a personal contract purchase (PCP) you generally need to have a good credit rating to get an approval, if you have a rating that is not so good we have hire purchase options available that would be better suited to you.
We specialise in providing the lowest interest rates on finance agreements possible for your personal circumstances.
We are also able to finance many other vehicles such as motorbikes, motorhomes, caravans and vans, not just cars!
