Personal Contract Purchase (PCP)
Although available to all clients, Personal Contract Purchase (PCP) is normally used by Private individuals. It is similar to Lease Purchase, in that it typically involves low initial outlay, followed by set monthly payments, with an optional fixed balloon payment at the end of the agreement. If you wish to retain the car at the end of the original agreement, the optional balloon payment may be refinanced or paid outright. Alternatively, you may simply hand the vehicle back and walk away (subject to terms & conditions).
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