• PCP Finance Explained

PCP Finance Explained

Car finance can be a confusing matter, so to make things simpler, we've explained exactly what types of finance we offer here at West Motors, and how it works.

What is Personal Contract Purchase Finance (PCP)

Personal Contract Purchase (PCP) is a very popular form of used car finance and can offer much more flexibility compared to Hire Purchase (HP). With PCP finance, you'll likely pay an initial deposit followed by fixed monthly payments. However, please bear in mind that you won't automatically become the owner of the car at the end of your agreement. 

Instead, you'll have three options to choose from; to pay the outstanding amount owed to fully own the vehicle, to part-exchange the vehicle (via West Motors) and begin a new contract on a different car, or return the car to the finance company. 

There are varying factors which contribute to the monthly amount paid during your finance term, including: deposit amount, mileage required, value of the car, and agreement interest rate.

Your monthly payment on PCP finance will likely be less than an HP deal, however, mileage limits do apply and you’ll incur financial penalties should you exceed the mileage cap. As with any finance plan, we recommend that you fully understand the payment agreement you enter into and the associated risks.

Why Finance Through West Motors?

By choosing to finance your car through a reputable dealership such as West Motors, you can tailor the finance package to suit you and your needs, whilst having peace of mind that all the hard work is done for you.

Still unsure if Personal Contract Purchase finance is the right choice for you? Our experienced and helpful team is able to answer all your questions. Simply fill out the form below to submit an enquiry, or call us on 01895 379525 to find out more.

Personal Contract Purchase Enquiry Form
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To save timely negotiation all our cars are heavily discounted upfront and offered nearer cost price, saving customers up to £2000 when compared to our competition. This ensures we are treating every customer the same. This fee is a compulsory fee and applies to all customers.

Variable admin fee is charged as listed below:

  1. Retail customers pay £199.
  2. Repeat customers purchasing a 2nd car within 12 months of the original invoice date £0
  3. Retail customers arranging finance using brokers outside of our immediate panel of lenders £499
  4. Trade customers making a purchase as the motor trade £549
  5. Export customers including Northern Ireland and the Republic of Ireland £599