What is Personal Contract Purchase (PCP)?

Personal Contract Purchase is a Hire Purchase agreement where you make an initial payment followed by fixed monthly payments for a set period of time. You'll then have flexible options to choose what to do with vehicle at the end of the agreement.

How does PCP work?

Based on your chosen vehicle, mileage and duration, we'll predict how much the car will be worth at the end of the agreement. This figure is known as the “Optional Final Payment”. You'll then make monthly payments, based on the difference between the cash price of the vehicle and the Optional Final Payment, plus interest.

At the end of the contract term, you'll have 3 options:

  • Pay the Optional Final Payment and the Option to Purchase Fee (£10) at the end of the contract to keep the vehicle
  • Return the vehicle with nothing more to pay (subject to age, mileage and condition)
  • Take out a new Personal Contract Purchase agreement using any equity as an advanced payment on a new vehicle
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What are the benefits?

  • Personal Contract Purchase (PCP) is a popular form of personal finance
  • Fixed monthly repayments
  • Choose mileage and duration of contract to suit your needs
  • Optional fixed cost service and maintenance packages
  • Flexibility at the end of your contract

What else do I need to take into consideration?

  • You won't own the vehicle unless you choose to pay the Optional Final Payment and Option to Purchase Fee at the end of your agreement
  • Road Fund Licence not included
  • Any damage to the vehicle must be repaired by an approved manufacturer prior to returning it, otherwise this will charged to you at the end of your contract
  • Drivers are limited to the mileage limit set out in the agreement. Any excess mileage will incur additional fee
  • Vehicles cannot be modified in any way
What else do I need to take into consideration?

How can Lombard Vehicle Solutions make a difference to your business?

  • Offering intelligent, forward-thinking and flexible vehicle funding solutions to meet your long-term business ambitions
  • Working in collaboration with ALD Automotive’s innovative products and award-winning support services
  • Team of trusted experts
  • Utilising ALD Automotive's 60 years of experience combined with the asset experience of Lombard
  • Delivering an experience we're proud of to all our customers

Next steps

Leave your details using our Get in touch form or alternatively you can call 0117 908 6490

We’ll call you back to discuss your business requirements and how we can help you

We’ll create and then discuss an innovative solution that is fit for purpose for your business operations

You will then become a customer of Lombard Vehicle Solutions with the full support of our trusted team of experts

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* Landline and mobile phone calls to numbers beginning 03, cost the same as a call to a standard “01” or “02” landline number.

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