Finance

Personal Contract Purchase (PCP)

PCP may be right for you if:

• You want a low deposit and monthly payments.
• You want flexibility to exchange, return or buy your car at the end of your agreements.
• You want to change your car regularly and avoid some maintenance costs.

PCP may not be suitable for:

• Customers who are deemed high mileage (e.g. in excess of 40,000 pa*).
• Customers who want to keep their car for a longer period (e.g. 5 years).
• *(maximum mileage parameters will apply with funders).

Hire Purchase (HP)

HP may be right for you if:

• You want to own the car outright at the end of your purchase agreement.
• You like to budget – you’ll know the exact payment amounts each month.
• You have a larger deposit available or a part-exchange which could be used as a deposit.

HP may not be suitable if:

• You want to have ownership of the vehicle from the start.
• You intend to change your car in 2 – 4 years time.

Contract Hire (CH)

CH may be right for you if:

• You want fixed regular rentals for an agreed period and mileage.
• You don’t want to have ownership.
• You are VAT registered as you can claim some of the VAT back on rentals and are claimable as an expense against taxable profits (Business only).

CH is not suitable if:

• You want to have ownership of the vehicle at any time.
• You want the flexibility to change your car part way through the contract.*(maximum mileage parameters will apply with funders).

Lease Purchase (LP)

LP may be right for you if:

• You want a low deposit and monthly payments.
• You want flexibility to part exchange or buy your car at the end of your agreement.

LP is not suitable if:

• You want the final value to be guaranteed by the finance company.
• You who want to keep their car for a longer period i.e. 5 years.