We use cookies to give you the best possible experience on our site and allow us and third parties to customise the marketing content you see across websites and social media. By managing your preferences here, you can refine the data you are happy for us to track. By using our site, you agree to our Privacy Policy

Your Privacy

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences or your device and is mostly used to make the site work as you expect it to. The information does not usually directly identify you, but it can give you a more personalised web experience.
Because we respect your right to privacy, you can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings (click 'Accept' to opt in or 'Reject' to opt out). However, blocking some types of cookies may impact your experience of the site and the services we are able to offer.

Strictly Necessary Cookies

(Req)

Necessary cookies are absolutely essential for our website to function properly. These cookies ensure basic functionalities and security features of our website, anonymously.

The site needs these cookies

Analytical/Performance Cookies

Analytical cookies help us to understand how visitors interact with the website. These cookies help us to provide information on metrics the number of visitors, bounce rate, traffic source, etc.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps us to deliver a better browsing and user experience for the visitors.

Advertisement

Advertisement cookies help us decide which products, services and offers may be relevant for you. We use this data to customise the marketing content you see on websites, apps and social media. They also help us understand the performance of our marketing activities. These cookies are set by us or our carefully-selected third parties.
Finance options at Inchcape

Personal Contract Purchase (PCP) Finance Guide

One of the most flexible ways to buy a new or used car

PCP Car Finance Explained



PCP stands for ‘Personal Contract Purchase’. Like most car finance options, PCP finance can be used on any number of cars, including new, nearly new and used vehicles that are up to three years old. Once you've selected your chosen vehicle, the dealership will agree a deposit amount, contract length, agreed mileage and a 'guaranteed future value' (GFV) of the car at the end of the contract.

What you pay is the difference between the car's value when it's purchased and the GFV at the end, (I.e. the depreciation) plus a little interest. This amount is split into management monthly payments. Once of the biggest benefits of PCP, is the flexibility it provides once the contract has ended.

Do you have historic credit issues?
Inchcape are here to help you find your perfect vehicle thanks to our Impaired Credit Car Finance.



Personal Contract Purchase at Inchcape

What are the benefits of PCP?


A PCP contract is usually set from 24 to 48 months, giving you the flexibility to decide how long you would like to keep the car before you change it. When you reach the end of the contract you have three options:

Retain: Pay the guaranteed future value and option to purchase fee - and then the car is yours

Return: Give the car back with nothing to pay (subject to mileage and fair wear and tear)

• Renew: Part Exchange your car and use any equity available (if applicable) as a deposit on your next new car

Should you decide to take out a PCP contract, you should be aware of the following:

Excess Mileage

At the beginning of the agreement, you decide on the total mileage you expect to do. It is normal to pay a fixed amount for every additional mile over this agreed amount, so bear this in mind if you hand your vehicle back at the end of your contract.

Wear & Tear

It is in your interest to minimize the vehicle’s ‘wear and tear’ and not exceed the agreed mileage. In simple terms ‘normal wear and tear’ means that for its age and mileage, the vehicle is in fair working order,
condition and repair.

Contact a member of the team at Inchcape to find out more.