Personal Contract Purchase Financing

If you’re planning on investing in a high-quality vehicle from such reliable dealerships as The Car Sales Company, it pays to fully be aware of the various purchasing schemes that are available. After all, a new or used car doesn’t come cheap, so ensuring you’ve secured value for money and affordable rates of financing is crucial. Among the various purchasing schemes we have available, one of the most popular - and one of the most affordable - is a Personal Contract Purchase arrangement, which enables you to drive away in a high-quality vehicle for low monthly repayments.

Car PCP FCA

How does Personal Contract Purchase work?

A Personal Contract Purchase - or PCP - agreement is the ideal option for those drivers that like to change model every few years, and offers exceptional flexibility. A PCP scheme is essentially a loan that helps you buy a car, but one that isn’t paying off the overall cost of the model. Instead, the value you will be paying off will be that which the finance company thinks the vehicle will lose in value for the duration of the agreement. As such, you can often expect to pay lower monthly repayments throughout the course of your agreement.

Like most finance agreements, a PCP contract requires you to pay an initial deposit on the vehicle of your choice. Often, manufacturers will provide a deposit contribution special offer that represents even greater value for money, and reduces the amount of money you need to borrow. Note that these monthly payments are subject to varying rates of APR, so you will be paying interest on top of the value of the model.

At the end of the agreement, a PCP arrangement provides you with a number of options, depending on how you wish to proceed. If you wish to purchase the car outright, you will have to pay a final balloon payment - known as the Guaranteed Minimum Future Value - which amounts to how much the dealer expects your vehicle to be worth at this time. Of course, you also have the chance to simply return the car to the dealer with nothing further to pay. Or, you can take out a new agreement on a new vehicle.

What are the benefits of Personal Contract Purchase?

  • Drive away in a new car for low monthly repayments
  • Take advantage of the flexibility a PCP arrangement provides
  • There are no concerns over the future resale value of the vehicle as the lender guarantees its value
  • Lower repayments mean you can often upgrade to a higher specification model
  • Deposit contribution special offers often make purchasing via PCP even more affordable
  • The choice to simply hand back the model and invest in something new at the end of the agreement

Why finance with The Car Sales Company?

Here at The Car Sales Company in Bury, it’s our aim to help motorists find and purchase the very best vehicles at the most affordable prices. In fact, we pledge that we are able to not only provide flexible financing that meets your requirements, but also operate a price match promise to ensure we will not be beaten on price. Our sales advisors have many years’ experience in helping motorists secure the best deals, so you can be confident we will be on hand to provide competitive rates of finance on your Personal Contract Purchase.

To learn more about the benefits of PCP with The Car Sales Company, or to take the first steps to investing in one of our high-quality used cars, get in touch with a member of the team today. We’ll be happy to arrange a test drive of your chosen model, answer any questions you may have, and ensure you’re always taking advantage of the best possible value for money. Pick up the phone or submit an online enquiry form today.