PCP (Personal Contract Purchase)
How do PCP agreements work?
Firstly you choose the right vehicle for you then you will make three decisions that will affect your monthly repayments
Your deposit – how much money you want to pay upfront Your repayment period – the length of the contract Your estimated annual mileage
Once these have been decided your monthly payments can be calculated and GFV (guaranteed future value / final optional payment)
The term you are agreeing to can vary from 24 to 48 months on a personal contract purchase with a final optional payment on the 49th month as explained in the finance agreement (please keep the customer copy for your own records)