PCP allows customers to spread the cost of their car or motorcycle by paying fixed monthly repayments over 36 to 48 months. With a maximum advance of £75,000, no minimum deposit is required. PCP contains a balloon payment at the end of the finance agreement which makes the monthly repayments lower than a HP agreement. There are three options at the end of the agreement; retain, return or replace the vehicle.
Good for customers, if:
- they want the option to pay a deposit
- they want to purchase optional extras such as Settlement Shortfall and Value Added Products
- they want lower monthly repayments in comparison to a HP
- they want to spread repayments over 36 to 48 months to suit their budget
- they want flexibility when it comes to end of agreement options
- they’re happy to pay a larger balloon payment at the end of their agreement if they decide to keep the vehicle
- they can stick to an expected annual mileage
Drive it forward with PCP on 6 & 7 year old cars
More choice means more opportunities. We’re optimising our product range to support you in helping more customers, more confidently. We’re now offering PCP finance for 6 and 7 year old cars, meaning you can serve more customers whilst keeping your forecourt moving and increasing finance penetration.
PCP parameters (cars only):
- 6 years old: 36 & 48 month terms available
- 7 years old: 36 month terms only
- All other PCP parameters remain the same including minimum mileage per annum (6,000), max mileage at inception (70k) and 90% GFV.
Unlock new business via MotoPro and Codeweavers direct
If you're one of our dealer partners who currently submit business using our MotoPro system or via Codeweavers direct, you can start using this new finance option straight away. Need more information? Contact your Business Development representative.
Finance to suit your customers
Understanding car finance isn’t just about product knowledge, it’s about tailoring finance options to suit every customer's needs. Find out more why PCP could be an excellent choice for your customers.
Finance is subject to affordability checks and is only available to UK residents aged 18 and over. If customers don't keep up with repayments, the vehicle may be repossessed.
