Personal Contract Purchase(PCP):

PCP is a great way to buy a car with lower monthly payments than traditional finance. When you set up your PCP agreement you select your preferred term, either 24, 36, 48 or 60 months, estimate your annual mileage and confirm the monthly payment you are able to make. We will then confirm the Guaranteed Minimum Future Value (GMFV) for the car, which is the amount at which the finance company agrees to buy back the vehicle from you at the end of the agreement; Alternatively, this amount becomes your optional final payment in the PCP deal should you decide to keep the car.

When you reach the end of the agreed term, you have 3 options:

• Part exchange your car, using any surplus value over the GMFV as the deposit on your next car

• Keep the car and make the final payment (the GMFV) outstanding on your agreement

• Return your car to us. If the previous options aren’t right for you, you can choose to return the car to us and walk away with no further obligations.

PCP is a popular choice with many of our customers as there are some great benefits including:

• Low monthly payments, as some of the cost is deferred to the end of the agreement

• Fixed payments, making budgeting easier

• Your car has a Guaranteed Minimum Future Value (GMFV), which takes away the worry and uncertainty of future depreciation and, if it is valued higher than the GMFV you pocket the difference.

• You will be able to change your car more frequently

• By changing frequently you will spend less on maintenance and repairs