Why choose PCP over traditional Hire Purchase (HP) finance?
- Generally lower monthly repayments than a typical Hire Purchase agreement
- Flexible repayment terms to help suit your monthly budget
- No minimum deposit, so you can have more control over the amount of finance required
- Fixed interest rates, so you know exactly what you’re paying every month for the length of the term
- At the end of the agreement, you can purchase the vehicle outright, return the vehicle to the lender, use it as part exchange for your next vehicle or refinance the balloon payment into a new HP agreement, subject to finance approval
- No need to worry about the vehicle being worth less than the outstanding amount owing to the finance company at the end of the agreement as you are protected by the (GFV) Guaranteed future value set by the finance company.
