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  • Auto Express Magazine

    OPTIONS EXPLAINED

    Feb 10, 2022 3 minutes

    What is Personal Contract Purchase (PCP) finance?

    PERSONAL Contract Purchase is one of the most popular types of car finance, because it offers low monthly payments compared with a car’s value, and the option to buy at the end of the contract or return the car to the finance company.

    PCP consists of a deposit (although this can be nothing, in some deals), followed by a series of monthly payments. At the end of the contract, you have a choice: make the large optional final ‘balloon’ payment – or Guaranteed Minimum Future Value (GMFV) – to buy the

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