N ew Car Finance PCP & Lease Deals

You have a choice of finance options between Personal Contract Purchase or PCP for short, Lease Purchase (LP) and Hire Purchase (HP).

All are types of hire purchase agreements and are protected by the Consumer Credit Act 1974. The main differences are Hire Purchase Agreements (HP payments) are made evenly over the period of the agreement. Lease Purchase (LP) where equal payments are made over the agreed period together with an agreed final balance payment. The benifit is low monthly finance repayments without any mileage restrictions.

Personal Contract Purchase (PCP) – Equal payments are made over the agreed period together with a final payment (equal to the estimated future value of the car) being made at the end. Provided that the agreed mileage has not been exceeded the vehicle can be returned to the finance company instead of making the final payment. The benefit is lower monthly finance payments. In all cases the car remains the property of the finance company until the final payment is made. you.