Hyundai Finance

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

We may choose to offer you an alternative product as part of our underwriting conditions which may include a Fixed Sum Loan with OFP. Your dealer will make you aware of this after your application for finance has been received and assessed by us.

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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

We may choose to offer you an alternative product as part of our underwriting conditions which may include a Fixed Sum Loan. Your dealer will make you aware of this after your application for finance has been received and assessed by us.

Find out more

Personal Contract Hire

Personal Contract Hire&quality=50

PCH

Personal Contract Hire, or PCH is a funding product where you lease your vehicle for a fixed period and mileage, in return for a monthly rental. At the end of the contract you simply return the vehicle, without further cost, providing that the vehicle has not exceeded the agreed mileage and that its condition is reflective of its age and mileage.

How does it work?

  • You pay an initial upfront advance rental (amount dependent on size of monthly rental) usually the equivalent to three, six or nine monthly rentals.
  • You then pay a fixed monthly rental fee (plus VAT) and in return have the right to use your chosen vehicle over a pre-agreed period and mileage.
  • At the end of this period you are not responsible for the disposal, the vehicle is simply handed back. There is no option to own the vehicle at the end of the agreement

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What else do I need to know?

  • All agreements include road fund licence, full manufacturers warranty and the manufacturers comprehensive breakdown cover.
  • PCH contracts are normally 24, 36 or 48 months in duration.
  • Both excess mileage and vehicle condition charges may apply.
  • Maintenance of the vehicle can be included in your monthly rental as an added option.
  • There is no option to own the vehicle at the end.

Download your copy of this option

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MORE ON PCH

Watch a short video explaining how Personal Contract Hire works:

Play Finanace Video