PCP Finance

PCP – Personal Contract Purchase


Spread the cost of your new vehicle for up to 4 years with the flexibility to tailor the term, deposit and payments to suit your budget and anticipated annual mileage.


PCP contains a Guaranteed Minimum Future Value (GMFV) at the end of the finance agreement, which usually makes the monthly instalment amounts lower than a traditional Hire Purchase (HP) agreement. This is great for customers who like to change their vehicle frequently.


When you have paid off the finance agreement and the Guaranteed Minimum Future Value (GMFV), the vehicle becomes yours, or if it doesn’t meet the GMFV set out at the beginning of the agreement, you can return it.


Alternatively, you use it as a part exchange against your next vehicle or refinance the balloon payment into a new HP agreement, subject to finance approval.


Pros & Cons

  • Generally lower monthly repayments than a typical Hire Purchase agreement
  • Flexible repayment terms to help suit your monthly budget
  • No minimum or maximum deposit, giving you more control over your expenditure
  • Fixed interest rates, so you have confidence knowing your payments won’t change
  • Flexibility at the end of the agreement – 1. you can purchase the vehicle outright 2.return the vehicle to the lender 3. use it as part exchange for your next vehicle 4. refinance the balloon payment into a new HP agreement, subject to finance approval
  • You agree your anticipated mileage at the beginning of the agreement so you don’t pay too much, or too little


  • You don’t own the vehicle until you’ve made your final payment, including the final balloon payment, which means the vehicle could be repossessed if you do not maintain contractual payments
  • You cannot sell or give the vehicle away until you have paid all of the repayments under the finance agreement
  • Excess mileage charges apply if you exceed the pre-agreed mileage, as documented in the finance agreement prior to purchase
  • If the predicted Guaranteed Minimum Future Value (GMFV) is set very close to the actual value of the vehicle, there will be little equity to roll onto another deal
  • The vehicle’s future value is based on its condition, commensurate with age and mileage. Any damage over and above normal/fair wear and tear may need to be rectified.

From our happy customers

  • If looking for another car I would recommend you visit Ross Wilkie at Drive Autos in Dundee first. The service you receive is excellent. Ross really knows his stuff and his attention to detail is exemplary. When sourcing the car we requested he went above and beyond. Nothing was too much trouble.

    Linda, Muirhead

  • Handed Ross my car this morning and we went around the car so Ross could see exactly what he was up against and what was needed. He very professionally explained what he was going to do and how he was going to do it. Returned and found my car in showroom condition. Never had such a professional job done on my car like that with every corner gleaming and he even pointed out how to keep on top of the maintenance myself. Will not use or trust anyone else to detail my car in future apart from Ross at drive autos. 5 star service thanks again !!

    Matthew, Dundee

  • Outstanding. The service was second to none and the vehicle I collected, you would have sworn it was brand new! Ross at Drive Autos is who you need to speak to for your next car. First class!

    Barrie, Perth

  • I got in touch with Ross at Drive Autos for some assistance selling my car on a recommendation. Ross handled the sale of my car professionally, kept in touch with regular updates and the price that I received was above market value. I have since gone on to purchase two cars from Ross, both immaculately prepared and I am delighted with the service, knowledge and advice in all my dealings with Ross at Drive Autos. I wouldn’t hesitate to use Drive Autos again and I would highly recommend.

    Brian Youngson

  • We bought our new car from Ross at Drive Autos earlier this month. Undeniably the best experience of buying a car we have ever had. Ross is very professional and the whole process from beginning to end was flawless. The car itself was prepared to the highest standard and the after sales service we received has been second to none. We would highly recommend Ross at Drive Autos for anyone wishing to purchase their new car.

    Shane, Forfar

  • Took my car to Ross yesterday for the executive valet & my car looks better now than when I bought it brand new. Would definitely recommend Ross @ Drive Autos & will be back.

    Pauline, Cupar

  • Ross was very thorough and painstaking in getting us a car that suits at an affordable price. We're delighted..

    Tam, Monikie

  • Ross provide excellent service and support throughout the process. Delighted with the car which had been prepared meticulously. Thanks.

    Derrick, Burntisland

  • Just bought a lovely car from Ross at Drive Autos. The car is great and the service from Ross was second to none. Superb service and we are delighted with the gorgeous shine on the car. The technology in the car is a bit daunting but Ross has said to let him know if I struggle and he will explain it all again. Again this is service above and beyond.

    Julia, Dundee

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