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Personal Contract Purchase (PCP)
With a Personal Contract Purchase, you can swap your car at intervals between 24 and 48 months.
This method of car finance is perfect if you are looking to have a new car every few years and don’t want to worry about your car depreciating in value. The Guaranteed Minimum Future Value ensures that the price you agree at the start of your PCP deal will be the minimum price given when you hand your car back at the end of the agreement.
What happens at the end of the PCP?
When you reach the end of your Personal Contract Purchase agreement, you have three choices; part exchange your vehicle for another car, keep the car and pay the final payment, or hand it back to the finance company with nothing further to pay (subject to the mileage being within the agreed limit and the car being in good condition). If you prefer to keep the car, you may be able to discuss refinancing the optional final payment.
Steps to take out a PCP agreement
- Pick out your favourite vehicle from our stock of new cars, or used cars
- Contact our finance specialists at Dick Lovett to discuss details of our PCP agreements, including size of deposit, monthly repayment schedule and end-of-term balloon payment
- Contact our dealerships by email, telephone or in person to collect your new car and drive away happy