Personal Contract Purchase | Finance Explained

Available from Snows across Southern England

PCP is a popular finance agreement that has lower monthly payments because the guaranteed final payment of your vehicle defers a larger payment to the end of the finance agreement. In order to determine your vehicle's final payment, the age of the car and your annual mileage will be considered.

What are the benefits?

✓ There is no minimum deposit
✓ Lower monthly payments allow you to plan and budget monthly
✓ Guaranteed final payment reduces the risk of depreciation
✓ Finance is secured against the vehicle
✓ A quicker change cycle allows you to change your new car more often
✓ Reduces maintenance costs
✓ Makes your dream car more affordable
✓ You have the final payment of the vehicle, which can provide lower monthly payments

How does a PCP finance agreement work?

Choose a vehicle from our wide variety of brands across the Group to find a model that perfectly matches what you are looking for. Our offers are at different budgets, mileage, terms, and deposits to help you tailor a quote that fits your requirements. When we have confirmed this, we will set out a fixed and affordable monthly payment. This will ensure the car's value is protected, while providing you with a car at an excellent price.

At the end of the agreement you have three options:

RENEW – opt for a new car by part-exchanging yours; should there be any equity over and above the guaranteed final payment, you can use this as a deposit towards a new car

RETAIN – you can keep the car and pay any outstanding charges (including the guaranteed final payment)

RETURN – return your car to the finance company where no further payment will be required if excess mileage and wear and tear conditions have been met. You may want to consider this option if the value of the car is less than the guaranteed final payment.

Good to know...

You can choose to drive a higher-specification car for the same monthly budget that you were planning to spend.

When compared with Hire Purchase:

✓ You will be able to drive a new car more often thanks to shorter repayment cycles
✓ There is the choice to buy the car at the end of your agreement
✓ It takes away the worry about depreciation (a proportion of the value is left until the end of the agreement)

The legal entities within Snows Group are authorised and regulated by the Financial Conduct Authority (“FCA”). Details of FCA permissions (and our trading names) can be checked via the FCA register https://register.fca.org.uk.

Snows Motor Group Limited is an Appointed Representative of Snows Business Holdings Limited who is authorised and regulated by the Financial Conduct Authority in insurance distribution activity only. Snows Business Holdings Limited FCA register number: 309925.

Snows Motor Group Limited is a Credit Broker and not a lender. We work with several carefully selected credit providers, including manufacturer finance companies, who may be able to offer you finance for your purchase. Finance is subject to credit acceptance to UK residents (excluding the Channel Islands) aged 18 or over. Guarantees and indemnities may be required. Terms and conditions apply.

Snows Motor Group Limited is directly authorised and regulated by the Financial Conduct Authority for Consumer Credit Activity (Limited Permissions). Snows Motor Group Limited FCA register number: 685889.

Discretionary rates / Commission disclosure

We have a fixed interest rate policy and we may be paid a fixed commission by the finance provider for introducing you to them. This introduction does not amount to independent financial advice.

For your reassurance, the amount of commission we receive from a lender does not have any effect on the amount that you will have to pay to the lender under your credit agreement. The lender will always set this.

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Personal Contract Purchase (PCP)

Available from Snows across Southern England

What are the benefits?

How does a PCP finance agreement work?

Good to know...

Explore Our Personal Contract Purchase Offers At Snows