PCP (Personal Contract Purchase)
is a simple cost effective way to buy your new or nearly new vehicle.
You choose the vehicle, the deposit, how long you want the contract to run for and the mileage you intend to do. You will then receive a quote for fixed cost motoring for the length of the contract. At the end of the contract you have a choice to either buy the vehicle outright for an agreed lump sum (the Guaranteed Minimum Future Value or final balloon payment), or hand the vehicle back to the lender.
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Hire Purchase (HP)
| Customer Deposit |
£10,000 |
| 59 Monthly Payments Of |
£1,279 |
| Cash Price |
£70,849 |
| Amount of Credit |
£60,849 |
| Fees |
£10 |
| Total Amount Payable |
£86,750 |
| Duration Of Agreement |
60 Months |
| Fixed Rate APR |
9.51% |
Representative 9.9% APR (Fixed)
Takes into account any fees associated to the loan in
addition to the
interest rate. This is considered to be the best indicator of the cost of credit.
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We are a credit broker and not a lender. Finance is subject to status and finance company acceptance. We can introduce you to a limited number of lenders and their finance products. We will receive a commission from the lender, as a fixed percentage of the amount you borrow, when we arrange the finance for you. These arrangements are negotiated with our lenders in advance and do not give us any discretion to negotiate or adjust your annual percentage rate (APR) or any other item included in the total charge for credit. The APR may vary according to your credit score or the amount you borrow. The value of the commission we will receive is set out in the Demands and Needs document we will provide to you. The commission paid to us is included within the cost of your finance. Some lenders may provide preferential rates to us for the funding of our vehicle stock or provide us with interest free loans. The finance rate will vary dependent of customer personal circumstances for in dealership purchases. Business users only. Unless otherwise stated, metallic paint at extra cost. Library image for illustration purposes only.
Lease
Personal contract hire is very similar to normal contract hire but is exclusively for private individuals. This is one of the most common forms of leasing.
With a personal contract hire agreement you take control of a vehicle for a contractual period - usually referred to as the 'lease period'. You will make fixed monthly payments for the duration of the contract - when the contract expires you will simply return the vehicle and take out a new personal contract hire lease. PCH means you never have to worry about resale values of your vehicle.
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Lease
Personal contract hire is very similar to normal contract hire but is exclusively for private individuals. This is one of the most common forms of leasing.
With a personal contract hire agreement you take control of a vehicle for a contractual period - usually referred to as the 'lease period'. You will make fixed monthly payments for the duration of the contract - when the contract expires you will simply return the vehicle and take out a new personal contract hire lease. PCH means you never have to worry about resale values of your vehicle.
Call us for more details on