How Will a PCP Deal Work for you?

Posted on September 5, 2017 at 7:43 pm

PCP, or personal contract purchase, means that you will be able to get a new car and make monthly payments towards its cost. However, you must understand that you will not own the car when your contract is up. This can be one major downside of PCP and is something that can put people off or make it a less appealing option. There are also a number of benefits as well, including:

  • Cheap monthly repayments. You are not paying off the full value of the car from new, so it will not be as expensive.
  • A brand new car. This is the most affordable way for you to be able to drive a car that is brand new.
  • You can reduce your payments further if you decide to part exchange a vehicle.

It’s not impossible to own a car after a PCP deal comes to an end – usually after around 3 years. You will have to pay off the remaining amount.

Posted in Cars