What is Personal Contract Plan (PCP)

A Personal Contract Plan (PCP) is a highly flexible, sophisticated method of financing your vehicle. Rather than paying for the car outright, you simply pay manageable monthly installments for its use over a fixed term.

At the conclusion of your agreement, you enjoy the ultimate freedom of choice with three distinct options:

• Renew: Part-exchange your vehicle and use any built-in equity as a deposit toward your next model.
• Return: Simply hand the keys back to us with nothing further to pay, subject to mileage and vehicle condition.

How it Works

While technically a form of Hire Purchase (HP), a PCP arrangement typically offers significantly lower monthly repayments. This is achieved by deferring a portion of the vehicle’s value to the very end of the agreement.

This final sum—known as the Guaranteed Minimum Future Value (GMFV)—is calculated at the start of your agreement based on your estimated annual mileage. This clever structure keeps your ongoing costs beautifully manageable while protecting you against unexpected depreciation, giving you complete peace of mind from day one.