What is Personal Contract Purchase (PCP)?
PCP is similar to Lease Purchase in that the monthly payments are offset by a final payment but the difference with PCP is that this final payment is optional. At the beginning of the agreement the future value of the car is set by the finance company and at the end of the agreement you have the option to just hand back the keys rather than pay the final payment or part-exchanging for another car. PCP suits a customer who is looking to keep the same car for the duration of the finance agreement.
How does PCP actually work?
What are the advantages of PCP?
What should you consider when option for a PCP?
Can I settle my PCP agreement early?