Personal contract purchase which is also known as a PCP is similar to hire purchase. You will pay an initial deposit, and then monthly payments for a set period of time. The higher your deposit the lower the monthly payments.
At the end of the agreement, if you decide you want to keep the car, you’ll need to pay what’s known as a ‘balloon payment’. This covers the cost of the vehicle and transfers ownership from us to you. If you decide you do not want to keep the vehicle, you can give it back, or start a new PCP deal and get a new car.