PCP definition | Personal contract purchase definition

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Personal Contract Purchase

With Personal Contract Purchase (PCP) allows customers to make an initial payment and it is then followed by a number of monthly payments over the length of the finance contract. This is followed by a final payment at the end of the contract period to keep ownership of the car. If you decided otherwise and not to pay the final payment you can simply return the car with nothing further to pay.

What can I do at the end of my contract?

  • You can return the vehicle at the end of your contract. As long as you have not exceeded your contracted mileage, then you have nothing more to pay x You can keep your vehicle by paying the final agreed payment
  • Trade your car in at Jennings Ford Direct for a new one. If the tradeā€in value is larger than the final payment then the difference can be used towards the deposit on the next purchase
  • Sell the car privately and keep any profit over the final payment

Why choose a Personal Contract Purchase agreement?

  • You can change your car on a regular basis
  • Lower fixed payments over a shorter term
  • Risk of negative equity is removed via the Guaranteed Future Value
  • Option to settle the agreement early

Finding out more about Personal Contract Purchase

Contact our sales team on 0333 414 9750 with any questions that you may have regarding Personal Contract Plan and they will endeavour to answer them. Additionally they can answer any questions that you have about other traditional finance methods.

Guaranteed Future Value explained

Optional Final Purchase - Three Simple Choices

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