Personal Contract Purchase

Low cost car finance deals for you

Happy Man Interested In Finance

£

15000
£0 £30,000

£

0
£0 £3,000
3
12 months 60 months
4
1,000 miles 15,000 miles

Finance representative example

  • PCP PCP HP
  • 49 monthly payments £332.91
  • Deposit £1,999.80
  • APR 13.9%
  • Fixed rate of interest 6.7%
  • Cash price £17,998.20
  • Total amount payable £27,521.73
  • Term 49 months
  • Amount of credit £7,523.73
  • Annual mileage 8,000

Low Cost PCP Car Finance Deals with Carbase

Do you like changing your car regularly but don't want to pay high monthly fees? A Personal Contract Purchase may be the right car finance option for you. With a range of low cost rates available we can tailor your car finance to your needs ensuring you don't pay too much for your new used car.

Our sales team will help you identify how much you can afford and help you find the car that suits your needs. Our responsible and tailored used car service ensures you get the right car and a price you can afford.

PCP Facts

  • Reduced monthly payments
  • Deferred final payment
  • Settle agreement at any time
  • At the end you can keep the car by paying a balloon payment, return it or part exchange if for a new one

What is Personal Contract Purchase Finance?

Personal Contract Payment (PCP) is a finance product that reduces the monthly payments by delaying part of the repayment until the end of the deal. It offers a wide range of flexibility with monthly payments, annual mileage and deposit all adjustable to meet your needs. You can also settle your agreement at any time.

All these factors play a part in how much you pay back each month. PCP is a very flexible method of payment. As with Hire Purchase, the more you put down as a deposit, the less you will pay back each month, however with PCP a low annual mileage can also mean that you pay less per month. An accurate mileage prediction is important for PCP as it affects the residual value of the car so it is important to give clear and accurate information to your Business Manager as penalties can apply if you exceed your stated mileage.

Benefits of PCP

  • Lower monthly payments than Hire Purchase or a Personal Loan
  • The ability to drive a more expensive car
  • The future value of the car is guaranteed by the finance company
  • Multiple options open to you at the end of the deal

Can I finish PCP early (pay off or cancel)?

Advantages of PCP

Disadvantages of PCP

How does my credit history affect the interest rate on my finance plan?