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Vauxhall Personal Contract Purchase (PCP)

A Personal Contract Purchase (PCP) is a flexible and very popular choice of motor finance because you can keep your monthly repayments lower by deferring a proportion of the credit until the final payment (GFV), which is payed at the end of the agreement.

Vauxhall Personal Contract Purchase Agreement

At the start of the PCP agreement the finance company sets a Guaranteed Future Value (GFV) for your vehicle. You agree your expected annual mileage, the term of the agreement and the amount of deposit. Monthly payments on the balance of the loan plus interest charges are then calculated, but minus the guaranteed future value.

What are my options at the end of the PCP?

At the end of the agreement you have a choice of three options:

  • Pay the guaranteed future value to own the vehicle outright
  • Hand back the vehicle with nothing more to pay
  • Part exchange the vehicle and use any equity as a deposit on your next vehicle

A PCP agreement can be used for buying a new or used vehicle and gives you a fixed monthly payment with a fixed for the term. It is ideal if you want to purchase a more expensive vehicle with a lower monthly payment than a traditional hire purchase agreement or if you would like to change your vehicle frequently and drive the latest models. It also provides flexibility because you can opt to settle your agreement early and part exchange for a newer model.

Points to Note: The GFV is based on your expected annual mileage, and if you exceed the agreed total excess charges will apply. Additional charges will also apply if you hand back the vehicle in a poor condition and you cannot sell the vehicle until you have made all repayments. Furthermore, your vehicle is at risk of repossession if you do not make the contractual repayments.

Other terms & conditions will also apply.

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Drive Motor Retail Limited is an Appointed Representative of Automotive Compliance Ltd, who is authorised and regulated by the Financial Conduct Authority (FCA No 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows Drive Motor Retail Limited to act as a credit broker, not as a lender, for the introduction to a limited number of lenders and to act as an agent on behalf of the insurer for insurance distribution activities only.

We can introduce you to a selected panel of lenders, which includes Vauxhall Finance. An introduction to a lender does not amount to independent financial advice and we act as their agent for this introduction. Our approach is to introduce you first to Vauxhall Finance, who are usually able to offer the best available package for you, taking into account both interest rates and other contributions. If they are unable to make you an offer of finance, we then seek to introduce you to whichever of the other lenders on our panel is able to be make the next best offer of finance for you. Our aim is to secure the best deal you are eligible for from our panel of lenders. Lenders may pay a fixed commission to us for introducing you to them, calculated by reference to the vehicle model or amount you borrow. Different lenders may pay different commissions for such introductions, and Vauxhall Finance also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. But any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement, all of which are set by the lender concerned. If you ask us what the amount of commission is, we will tell you in good time before the Finance agreement is executed. All finance applications are subject to status, terms and conditions apply, UK residents only, 18’s or over. Guarantees may be required.