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Personal Contract Purchase (often referred to as PCP) is similar to a Hire Purchase or Conditional Sale Agreement but offers an additional optional final payment to buy the car at the end of the loan term. This optional final payment is known as a guaranteed future value (the GFV).

Personal Contract Purchase  is an increasingly popular way of buying a new or used  car  and is similar to Hire Purchase  in three  areas:

  1. You pay a deposit
  2. You have  fixed monthly payments
  3. You get a choice of loan term (typically 12 to 60 months).


Personal Contract Purchase  can only be taken out on cars of a certain age. Fast Car Finance can arrange Personal Contract Purchase on vehicles from  new to five years old.


At the beginning of the agreement, the finance company   calculates  a  Guaranteed Future Value (GFV)  for your car. This is based on the following information;

  1. Age of the vehicle
  2. The vehicles current mileage (if used)
  3. Your anticipated annual mileage
  4. Your required loan term


From the above information, Fast Car Finance will calculate the  projected future  value of your car  – typically this will be based on the car’s anticipated future trade value. We work in conjunction with our panel of PCP lenders to ensure that this calculation is as accurate as possible for your specific car.


Arranging car Personal Contract  Purchase  is  simple  and straight-forward with us.

Contact us

today for further information.

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  • Audi A4 TFSi S Line 2013
    £ 19,985 12/03/2015

    Personal Contract Purchase


  • Audi RS5 Quattro 2014
    £ 48,444 04/03/2015

    Personal Contract Purchase

    Business Owner

  • Audi TT 2.0 TFSi Quattro 2014
    £ 26,500 22/02/2015

    Personal Contract Purchase


  • Mercedes Benz SLS Roadster 2012
    £ 125,000 03/04/2014

    Personal Contract Purchase

    Company Director

  • Porsche Cayenne 2014
    £ 55,000 11/03/2014

    Personal Contract Purchase

    Property Developer

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The finance company guarantees the cars future  value,  subject to certain return  conditions. This should mean that the value of your car at this time will be “at least” the same as the amount outstanding (hence, a Guaranteed Minimum Future Value).   So, if you want, you can simply give the car back to the finance company and the finance is settled.   If the market value of the car is less than the amount outstanding, that’s not your problem – the finance company takes the loss.

At the end of the Personal Contract Purchase agreement you have three  choices:

  1. RETURN THE CAR to the finance company  -this won’t cost you anything so long as you have kept within the agreed mileage and the car is in good condition
  2. KEEP THE CAR – this means that you make a final lump sum  payment as outlined when you signed   your agreement.   This balloon payment is called the GFV (Guaranteed Future Value)
  3. TRADE THE CAR IN FOR A REPLACEMENT – any equity left  following the repayment of the GFV  can be used as a deposit to towards the next one.

Personal  Contract Purchase may be  the right choice for you if you answer  “yes” to one or more of the following statements

  • YES – I want my monthly payments to be as low as possible
  • YES – I like the flexibility of having 3 different options at the end of the agreement
  • YES – I like the idea of changing my car every 2,  3 or 4 years
  • YES – I want to avoid increased maintenance and service costs associated with running an older vehicle.

If you are confused between Hire  Purchase (HP)  and Personal Contract Purchase  (PCP) read on:


Imagine a car costs  £30,000 to buy now and in 3 years’ time it will be worth  £15,000

  • With a  Hire Purchase arrangement over 3 years, you will pay  £30,000 plus interest and at the end of the payment term you own the car which will be worth  £15,000.   So when you want to part-exchange the car you will have spent  £30,000 plus interest and you will be given  £15,000 for the car.   Overall you will have spent  £15,000 plus the interest.
  • With a PCP arrangement the finance company  guarantees the final value of the car (the GFV).   So instead of paying off  £30,000 (plus interest) and getting back  £15,000.   You will only be paying  £15,000 back plus interest and may end up  getting nothing for the car.

The net result is the same really, but how you get there is quite different.

Arranging a Personal Contract Purchase  Agreement is simple and straightforward with Fast Car Finance. Are you ready to get in the driving seat?  Please  Contact Us

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  • Thank you Fast Car Finance, your car finance quotation was far better than the one offered to me from the dealer supplying the car. Furthermore, your advice and guidance on the various finance products that were available to me was first class. Great service from great people, you can rest assured I will be in ...

  • Having dealt with Fast Car Finance previously and having the whole process explained to me in plain English, I had no hesitation in returning to them to help finance my next purchase. As expected, the service was excellent . Thank you for holding my hand once again and I’ll be in touch for the next ...

  • Excellent. From my first purchase of my Ferrari a few years ago, then my Aston, to my most recent purchase, Andy has been awesome. Always available for any questions I have, always quick to reply – even at unsociable times. Even when my imagination runs wild Andy is always on hand to provide me quotes ...

  • … my experiences have all been very positive, and I would gladly use the guys again. They have also been a big help working in an advisory role. Steve has helped me out on 2 vehicle purchases this year and on both occasions FCF have worked quickly and effectively to come up with the most ...

  • Thanks Andy – another super job. I know where to come for my numerous car finance needs in the future ...

  • I really appreciated Andy’s professional attitude, ability to find a deal that suited me, his hands-on approach to the paperwork and the personal touch of visiting me at my office in London ...

  • All I have to say is a very excellent service and would recommend you to anyone. Thanks ...

  • Always Fast and Friendly… ...

  • I’ve dealt with Steve for both my transactions and I have to say he’s been brilliant. In both instances he has dealt with almost everything from start to finish with no impact on my busy schedule – no problems and minimal fuss ...

  • I have only dealt with Steve but I can report that he has been professional, courteous and efficient at all times. I would have no reservations in recommending Steve and Fast Car Finance to anyone ...



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