Personal Contract Purchase (PCP) Deals

We're currently in the process of updating our PCP deals.

Contact our experienced team on 0161 667 5338 for our latest prices

How does PCP Work?

With PCP, you simply pay an agreed initial amount at the start of the vehicle lease, then a fixed monthly payment for the term of the lease. Typically, a Personal Contract Purchase agreement lasts between 2-5 years and in return you get the use of the vehicle with an agreed annual mileage allowance.

A number of factors combined can impact your monthly payments on a PCP deal. Firstly, the bigger the initial payment you put down, the lower your monthly payments will be. Also, some vehicles are quicker at depreciating (dropping in value) than others. The quicker a vehicle is expected to depreciate, the higher your monthly payments will likely be to cover the drop in value. Furthermore, your annual mileage allowance and contract term will impact your monthly payments. Typically, with a longer contract term, your monthly payments will be lower. Another factor to consider is the rate of interest on the loan (APR) for the vehicle. As PCP is a finance solution, you will be charged a rate for borrowing money.

PCP offers a flexible agreement with 3 options at the end of the contract:

• Simply return the vehicle at no cost (as long as the vehicle is in an acceptable condition and contract mileage has not been exceeded).

• Dispose of the vehicle to a 3rd party - any equity is yours to keep.

• Pay the Optional Final Payment and keep the vehicle.

What are the advantages of PCP?

• Personal Contract Purchase gives you the option to terminate the contract early subject to payment of a settlement figure. As this is a regulated agreement, our finance companies must use an Actuarial Calculation to work out your settlement figure.

• Flexible options available at the end of the agreement including the option to purchase the vehicle for a final payment (unlike with PCH).

• There’s the option to include a service & maintenance contract and roadside assistance.

• PCP offers flexible contract periods from 24-60 months. If you opt for a 60-month contract, this provides lower monthly payments, but you’re not committed to keeping the car for the full period.

• Road fund licence included for first 12 months then funder arranges and recharges to you by direct debit.

• When you lease a car, you have the option to choose either a used vehicle or a brand-new one. However, we tend to find that the majority of our customers opt for a new vehicle due to the discounts available on these vehicles via our finance partners. Not only are new vehicles typically more reliable than used ones, but any issues will be covered by the full manufacturer's standard warranty. (manufacturer's warranty varies depending on the manufacturer).

• PCP helps to control your monthly motoring spend by offering a fixed monthly payment for the agreed term of the PCP agreement. Also, a flexible initial payment and payment profiles available to suit you.

• PCP offers the option to return the car at no cost once 50% of the total payments have been made (subject to condition and pro-rata mileage in line with your contract).

Points to consider with PCP

• Contract mileage should be based on anticipated total mileage.

• Excess mileage charges will apply if contract mileage has been exceeded when handed back to the funder.

• The vehicle must be comprehensively insured. Insurance is not included as part of your agreement, so this is your responsibility.

• If vehicle is not returned in an acceptable condition, damage recharges may apply (please ask for a copy of the BVRLA Fair Wear & Tear Guide)

• If you choose to terminate the contract before you have paid 50% of the Total Amount Payable there may be a balance to pay unless the vehicle is worth more than the settlement at this point.

Why Choose GB Vehicle Leasing?

GB Vehicle Leasing is quickly becoming the fastest growing leasing company and we pride ourselves on our customer satisfaction. With over 650 genuine customer reviews, you can be sure your vehicle is supplied by a company you can trust.

For us this is a personal service and we’re always happy to answer any questions you have regarding PCP. As a reputable leasing broker, we offer bespoke and competitive quotes to suit your requirements.

Also, at GB Vehicle Leasing the customer service experience doesn’t end at delivery of your vehicle, so we offer after sales support for the life of your contract.