Personal Contract Purchase (PCP)

If you want to make fixed regular payments and guarantee the future value of your vehicle, then PCP could be the right option for you. 

How it works:
1. Simply choose the vehicle you wish to purchase, agree your annual mileage and decide your agreement term of between 20 and 48 months.
2. Based on your chosen term and mileage, CA Auto Finance will determine the Guaranteed Minimum Future Value (GMFV) of your vehicle at the end of your agreement.
3. The GMFV is deferred to the end of the agreement and is the optional final payment.
4. The GMFV and any deposit are deducted from the price of your vehicle. You make regular payments based on the remaining balance plus the agreement interest.
At the end of the agreement, you will have three options to choose from:
Renew: Choose a new vehicle from your local retailer and use any excess value over the GMFV towards your deposit. You can trade in your old vehicle or sell it privately.
Retain: If you wish to keep your vehicle, you only need to pay the GMFV.
Return: Simply return your vehicle to CA Auto Finance in a good condition and within the agreed annual mileage.
The features you can benefit from by choosing PCP:
– Your monthly payments are reduced because the optional final payment is deferred to the end of the agreement.
– With shorter terms you can be driving a new vehicle more often, meaning the servicing and maintenance costs may be reduced. This also allows you to keep up to date with technological advancements in vehicle – safety, performance and economy.
– Choose your deposit, annual mileage and agreement term to suit your needs; and at the end of your agreement you choose which of the three options is right for you.