Why PCP?
V12 Vehicle Finance Personal Contract Purchase (PCP) can help you buy your next car with lower monthly payments than Hire Purchase (HP) over a similar term. Unlike Hire Purchase, you won’t be paying off the full value of the vehicle. At the end of your PCP agreement, there will be a final payment called the Guaranteed Future Value (GFV). This is the amount we forecast your vehicle will be worth at the end of your agreement, subject to:
- The mileage not exceeding the limit we agreed with you at the beginning of the contract
- The condition of the vehicle at contract end click here to see our Wear and Tear Guide
You won’t automatically own your car at the end of your agreement but instead you can select from one of three options:
Part Exchange
If the value of your vehicle exceeds the GFV amount, you can use the difference as a deposit towards another car. Your supplying dealer can help you with the valuation of your car
Buy
Simply pay the GFV amount to own the car
Return
Agree a handover date and return the car to us. Please note that additional charges may apply if you have exceeded the agreed contracted mileage or if there is damage to the vehicle that exceeds our wear and tear conditions
