Common FAQs about PCP Deals

written on Mon 18 July 2016 by

PCP is so popular because of the flexible options that it offers to car buyers. But then what do you exactly know about PCP? Is this going to be the answer for your car needs? How is it going to benefit you?

Here are some of the common frequently asked questions about PCP deals:

What is PCP?

PCP is personal contract purchase which is a kind of finance for cars that offer more flexibility. This is like renting a car however with PCP at the end of the rental agreement, you have the option to own the car or exchange it to a new one and continue with the deal. So it depends on the car company on how you will be closing the deal.

Ideally, who can get PCP deals?

This is usually for people who want to choose low monthly payment for their cars and the option to change the car at the end of the agreement. If you choose to own the car then there will be payment that you need to settle for you to own it.

How to start with the PCP deals?

There is initial payment that needs to be paid based on the car of your choice. Once you are decided you just need to call the car company so they can calculate for you the car that you have chosen and they will provide you the details. There is a balloon payment at the end of the agreement. This means it will be only paid if you will own the car at the end of the agreement. You can enquire on the website: regarding pcp deals as well as discounted cars.

What will happen at the end of the agreement?

At the end of the PCP deal you can return the car without paying anything, but subject to any damage or additional mileage. You can also trade your car in, then deal for a newer one. You just need to pay the balloon payment then pay the initial payment for the new car. You can also own the car by paying the balloon payment and you can take ownership of the car. Anything that can benefit you should be your option for these deals.

So what is the advantage of PCP?

You can get new car after 2 to 3 years. You can also take advantage of the flexible options that PCP offers.

What is the recommended car company that can give you this kind financing?

You can absolutely refer to this website for more details about the PCP deals:

Do not hesitate to ask more questions about the PCP deals to the car company you will be taking this car financing. If you think it is going to be worth it then talk to the car company that can provide you the best deal for the car you need. You have the benefit to own the car if you think it is going to suit your needs. And if not you can return it and decide later on for a new car.