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PCP suits drivers who like to change vehicles regularly while keeping monthly costs manageable. It’s particularly popular with customers keen to choose newer models or higher specifications.
At the end of the agreement, you can:
You select your vehicle, agreement length and estimated annual mileage. After paying your deposit, you make fixed monthly payments throughout the contract term.
At the end, you decide whether you wish to keep, return or exchange the vehicle.
PCP can provide lower monthly payments than traditional Hire Purchase agreements. It also offers flexibility at the end of the contract and may help you access newer vehicles more affordably.
Mileage limits and vehicle condition are important considerations. Exceeding agreed mileage or returning the vehicle with excessive damage may result in additional charges.
Yes. Early settlement may be available, although settlement figures and any applicable charges will vary depending on your agreement terms.
HP is ideal for drivers seeking simple, transparent finance with clear monthly payments and a straightforward route to ownership – and there’s no deferred final payment to consider.
You choose your vehicle, deposit amount and repayment term. Monthly payments are then calculated across the remaining balance, helping slice the overall cost into manageable instalments.
After the final payment has been made, the vehicle is yours.
HP offers fixed monthly payments, straightforward ownership and no mileage restrictions. It tends to suit drivers planning to keep their vehicle for several years.
Because the full vehicle value is repaid during the agreement, monthly payments are often higher than PCP agreements. Missing payments may also affect ownership rights.
Yes. Early settlement is usually available, although the exact figure will depend on your agreement terms and remaining balance.
PML suits customers planning longer-term ownership who prefer a simple, transparent finance structure without deferred final payments.
You choose your deposit amount, agreement length and repayment structure. Monthly payments are then calculated across the remaining balance.
Once the agreement ends, ownership transfers fully to you.
PML offers clear ownership from the outset with no mileage restrictions or optional final payment. It can suit drivers covering higher annual mileages particularly well.
Monthly payments may be higher than PCP because the full vehicle value is repaid during the agreement term.
Yes. Early settlement is often available, subject to settlement calculations and the terms of your finance agreement.
