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Personal Contract Purchase (PCP)

Personal Contract Purchase (PCP)
Personal Contract Purchase, also known as PCP, is an increasingly popular way to fund the purchase of a prestige car. Best described as the equivalent of a long-term rental, allowing you to use the car until the contract ends before deciding whether to keep it or change it.

At V12 Automobil we offer a broad range of finance products including Personal Contract Purchase.

If you’re opting out of your company car scheme, PCP is an ideal choice. Your company car allowance can fund your monthly payments, without paying company car tax.
Benefits of PCP Car Finance
Flexibility
You choose if you want to own the car at the end of the agreement.

Set Monthly Payments
Perfect for budgeting.

Low Deposit
Allowing you to free up funds.

Guaranteed Minimum Future Value
Protecting you from market fluctuations.

Change Cars
Ability to change your vehicle more often.
Things to know about a PCP product
At the beginning of the agreement, your car’s ‘Guaranteed Minimum Future Value’ (GMFV) is calculated, based on agreed mileage. This is then deferred as a final payment made at the end of the agreement, often referred to as a ‘balloon’ payment. Deferring the GMFV to the end of the agreement in this way means that your regular monthly payments are lower than those on a comparable HP agreement over the same term.

Before choosing a PCP, you need to consider the following:
  • You will need to agree up front the mileage you will cover and stay within this.
  • Early termination may result in additional costs.

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Contact Details

Thomas House
84 Eccleston Square
Pimlico
London
SW1V 1PX 0330 1335108

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