With Personal Contract Purchase (PCP), you pay a fixed monthly fee to obtain and drive a new Transit for a typical period of between two to four years. Legal ownership is retained by the finance company that provides you with your van until you come to the end of the contract period where you have two options.
Purchase the vehicle for the price that you agreed with the finance company at the start of the contract.
If you think the vehicle is worth less than the pre-agreed price, return it to the finance company.
The key difference and advantage of PCP over Personal Contract Hire is that if you are considering retaining the car at the end of the contract for an extended period, you will have a predictable final payment to fund this purchase.
Choosing the most cost-effective method of funding a vehicle for your business can be a daunting task. Our Transit Centre advisors listen to your needs and take into account your situation before recommending a funding option for you. Please call one of our team today for impartial, practical advice about financing your vehicle. We are here to help and find solutions that work for both you and your business.