Personal Contract Purchase

Posted by Car Finance and Vehicle Leasing Broker on at 1:05 pm. Filed under: Car Finance Personal Contract Purchase or PCP has terms normally from 24 months up to 60 months, again with fixed repayments and a guaranteed future value (GFV) which you have the option to pay to own the car at the end of the agreement although you can also choose to hand the car back to the finance company with nothing further to pay. The car needs to stay within the mileage amount stated at contract inception and also returned in a reasonable condition or the finance company does have the right to levy a charge for the loss in value. Summary: A finance product for those who wish the option to own their cars but avoid the risk of financial loss upon disposal.