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Personal Contract Plan is a Hire Purchase Agreement which is broken down into three key elements:
With a PCP agreement, you’re not actually covering the cost of the car. All cars naturally lose value over time (which is referred to as depreciation). What you pay under a PCP agreement essentially covers the depreciation experienced during the agreement.
A PCP agreement will generally give you a lower payment as it offsets the GFV vs the total amount of the car.
| 47 monthly payments of: | £324.85 |
| On-the-road cash price | £39,200 |
| Customer deposit: | £7,725.05 |
| Total amount of credit: | £30,574.95 |
| Total amount payable: | £38,300 |
| Optional final payment (GFV): | £15,307 |
| Fixed rate of interest per year, true: | 0.0% |
| Annual mileage: | 8,000 |
| Excess mileage charge, per mile: | 10p |
| Duration of agreement (months): | 48 |
| APR Representative: | 0.0% |
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Eden Automotive Ltd/Eden Motor Retail Ltd is a credit broker not a lender. We work with a number of carefully selected lenders who may be able to offer you finance for your purchase. The lender will pay us a commission for arranging finance for you, upon request we can disclose these details to you. The lender will require a credit check and conduct an affordability assessment before making any offer of finance to you. All finance is subject to status. Terms and conditions apply.
FCA number: 305868/471208.