Inchcape Retail
The worlds leading car retailer
Finance Options
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Personal Contract Purchase (PCP)
This type of finance options is ideal for those customers wanting lower monthly repayments and the ability to upgrade their car every few years.
After the deposit is paid, regular monthly repayments are set up to be paid for a fixed term. At the end of the agreement a one-off lump sum falls due, but with options. The amount deferred, which is set by our funding partner, is called the guaranteed minimum future value (GMFV). This amount is what the lender guarantees the car will be worth at the end of the contract term.
This type of agreement gives the customer options such as paying off the outstanding balance and keeping ownership, selling the car privately and using the money to pay off the balance or finally returning the vehicle to the dealer. If the car, at the end of the term of funding is worth more than initially predicted, the difference can be used towards funding a new car following the settlement of the outstanding balance (GMFV).
