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Finance
Funding solutions explained Finance Here at Pure cars, we make the process of financing your car straight forward by offering competitive rates and tailored packages to suit your needs. We provide you with a simple finance application, making the journey to your new vehicle easy and stress-free. Make an Enquiry

Finance Options at Cars2 Ltd

What is Personal Contract Purchase (PCP)?
PCP
Personal Contract Purchase (PCP) is a finance product similar to Hire Purchase (HP) that allows you to finance your new or used car but with PCP you have options. Instead of paying off the entire value of the vehicle you first agree a term, normally between 18 to 48 months, and an anticipated annual mileage, the finance company will then calculate what the expected value of the vehicle will be at the end of that term, this is known as the Minimum Guaranteed Future Value (GMFV) or Option Final Payment (OFP).

This means you are only paying the expected depreciation of the vehicle making your monthly instalments smaller. At the end of the agreed term you have 3 choices, you can;

1. Pay off the known GMFV/OFP and keep the vehicle.
2. Hand the car back to the finance company, subject to fair wear and tear and mileage.
3. Part exchange your car and use any equity remaining as a deposit on your new car.

Personal Contract Purchase (PCP) is one of the most popular method of financing a vehicle.

How does PCP actually work?​

What are the advantages of PCP?

What should you consider when option for a PCP?

Can I settle my PCP agreement early?

Find and Finance your new vehicle through PCP
What is Hire Purchase (HP)?
HP
Hire Purchase is a way to finance your new or used car. You will normally pay an initial deposit followed by fixed monthly instalments to your agreed term and will pay off the entire value of the vehicle. To complete the purchase there is a very small option to purchase fee then title of the vehicle is yours.

How does HP actually work?​

What are the advantages of HP?

What should you consider when option for a HP?

Can I settle my HP agreement early?

Find and Finance your new vehicle through HP