Personal Contract Purchase (PCP)

Personal Contract Purchase (PCP)&quality=50

PCP

Personal Contract Purchase or PCP, is a flexible and popular plan that provides you with the option to change your car on a regular basis.

How does it work?

  • At the start of the agreement we’ll set an optional final payment for your car, this will be based upon your chosen agreement term and approximate annual mileage
  • You pay a deposit and then make monthly repayments based on the outstanding loan balance less the optional final payment
  • At the end of the monthly repayment period you’ll have three options: SEE BELOW
1

RETAIN:

Pay the optional final payment and take ownership of the car.

2

RETURN:

Hand back the car with nothing to pay.

(subject to mileage and fair wear and tear)

3

RENEW:

Part exchange the car and use any equity as a deposit on your next car

(if any available, which cannot be guaranteed)

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What else do I need to Know?

  • Typical repayment periods are over 25 or 37 months
  • The optional final payment is based on your repayment period and mileage. This can be set from 6,000 to 30,000 miles per annum
  • The car can be up to 47 months old and 50,000 miles at the start of the agreement and must not exceed 84 months/ 100,000 miles at the end of the agreement
  • A maximum of 50% deposit is allowed and the minimum loan amount is £3,000
  • You will not own the vehicle until all monthly repayments are made, including the optional final payment.

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More on PCP

Watch a short video explaining how personal contract purchase works:

Play Finanace Video

Hyundai Conditional Sale

Hyundai Conditional Sale&quality=50

CONDITIONAL SALE

Conditional Sale is a simple and traditional way to finance your car over a fixed period for a fixed monthly amount.

How does it work?

  • You pay a deposit then make regular monthly repayments to repay the balance, it’s that simple
  • As your interest rate is fixed you’ll know exactly how much you’ll repay at the outset of the agreement
  • Only once all monthly repayments have been made will you own the car.

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What else do I need to Know?

  • The minimum loan amount is £3,000. Repayment periods can vary from 12-60 months, with a minimum deposit requirement of 0% (criteria may vary dependant on campaign programmes)
  • The car must not be more than 14 years old at the end of the agreement period.

Download your copy of this option

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More on Conditional Sale?

Watch a short video explaining how conditional sale works:

Play Finanace Video