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Personal Contract Purchase (PCP) Finance is a widely used and flexible way of financing a new car.

If you opt for a PCP finance plan with Vospers, you will pay a deposit as well as monthly instalments. This is much the same as if you took out a loan, however, the amounts are typically smaller than other finance options. This is because PCP deals require a final sum often referred to as a 'balloon payment' to be paid at the end of the agreement before you gain full ownership of the vehicle.

It is important to know, however, that you don't necessarily need to pay the 'balloon payment' as part of your PCP deal. There are a number of options available to you once all of the monthly payments are completed. At this point you have paid roughly a third of the total value of the car, you now have three options.

  • Make the final payment
  • Return the car to the dealership
  • Trade the car in and start a new deal on a new car

PCP deals provide flexibility and is more like leasing a car with the option to own at the end.

When setting up a PCP deal with Vospers we will give you a 'Guaranteed Minimum Future Value' for the vehicle. This is the minimum value of the car when the agreement ends. A GMFV protects you if the car unexpectedly drops in value, or if the car increases in value you can use the equity as a deposit for your next PCP deal.

Why Choose PCP with Vospers?

The Freedom to Choose - purchase the car, part-exchange it or return it, the choice is yours!

Manageable Monthly Payments

Guaranteed Value - We guarantee a minimum future value for your car.

Tax breaks - If you're opting out of a company scheme, your cash alternative isn't subject to company car tax.

VAT free - no VAT on payments.