Personal Contract Purchase (PCP) lets you spread the cost of your vehicle by paying fixed monthly repayments over 36 to 48 months to suit your budget. At the end of your finance agreement, you pay a final balloon payment which makes the monthly repayments lower than on a Hire Purchase agreement. No minimum deposit is required, so you can choose to either finance the vehicle entirely, or put down a deposit to reduce the monthly payments.

At the end of your agreement, you have 3 options: retain, return or replace the vehicle.

  • Retain: you keep the vehicle by paying the balloon payment and option to purchase fee at the end.
  • Return: you hand the vehicle back, meaning you don’t pay the final balloon payment.
  • Replace: you part exchange the vehicle at a local dealership to get a new vehicle.

Good for you, if:

✔  you want the option to put down a deposit (but don’t have to)

✔  you want lower monthly repayments in comparison to a HP

✔  you want to spread your repayments over 36 to 48 months to suit your budget

✔  you want flexibility when it comes to your end of agreement options

✔  you’re happy to pay a larger balloon payment at the end of your agreement if you decide to keep the vehicle

✔  you can stick to your expected annual mileage (between 6,000 – 28,000 for cars and 3,000 – 10,000 for motorcycles)


  • Finance is subject to affordability checks and is only available to UK residents aged 18 and over.
  • If you don't keep up with your repayments, the vehicle may be repossessed. 
  • You don’t own the vehicle until you’ve fully repaid the finance including the balloon payment and option to purchase fee at the end.
  • Additional charges may apply if you exceed your agreed annual mileage and don’t keep the vehicle in good condition. 

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