PCP
Under a Personal Contract Purchase (PCP) your vehicle purchase will be supported by one of our approved finance providers. Thereafter, it will be your responsibility to make the agreed monthly payments for the duration of the agreement. A portion of your car's value will be deferred until the end of the agreement – called the Guaranteed Future Value – which is the minimum value that we can guarantee your vehicle will be worth (subject to fair wear and tear and mileage). At the end of your agreement period, you will be presented with three options: part-exchange the vehicle for a new car, pay the optional final payment and retain the car or return your car with no further payments (subject to terms and conditions).
PCH
Personal Contract Hire (PCH) works in a similar way to PCP, the main difference is that ownership of the vehicle would not be assumed at the end of the agreement period and instead the car would be handed back. However, another vehicle could then be chosen under the same scheme (subject to credit checks and application).
Personal Contract Hire – provides hassle-free motoring, you benefit from a low initial outlay, regular rentals and no worries about disposing of your vehicle at the end of the contract.
HP
You may opt to buy your car through Hire Purchase (HP) after paying an initial deposit, you then pay the remainder of the value of the car in instalments, normally for between two and five years. The finance agreement is secured against the car being bought. In effect, you are hiring the car until you make your final payment after which you will own it.
Personal Loan
Personal Loan Finance – this product is ideal for people who want to own the car at the beginning of the finance agreement and do not have a deposit to put towards their purchase, or in some circumstances where your current part exchange has negative equity.
Business C/Hire
Business Contract Hire – the efficient way of funding the use of the vehicle without the cost of ownership, you benefit from initial outlay, regular rentals and no worry about disposal of your vehicle at the end of the contact.