Personal Contract Purchase (PCP) Car Finance

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Personal Contract Purchase (PCP) Explained

What is a PCP?

Personal Contract Purchase, also known as PCP, is an increasingly popular way to fund the purchase of a prestige car. Best described as the equivalent of a long-term rental, allowing you to use the car until the contract ends before deciding whether to keep it or change it.

At Oracle Finance we offer a broad range of finance products including Personal Contract Purchase.

If you’re opting out of your company car scheme, PCP is an ideal choice. Your company car allowance can fund your monthly payments, without paying company car tax.

At the end of the agreement PCP offers a number options as per below:

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Benefits of PCP Car Finance

You could benefit from any of the below…

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you choose if you want to own the car at the end of the agreement

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Set Monthly Payments

perfect for budgeting

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Low Deposit

allowing you to free up funds

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Guaranteed Minimum Future Value

protecting you from market fluctuations

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Change Cars

ability to change your vehicle more often

Things to know about a PCP product

Things To Know

At the beginning of the agreement, your car’s ‘Guaranteed Minimum Future Value’ (GMFV) is calculated, based on agreed mileage. This is then deferred as a final payment made at the end of the agreement, often referred to as a ‘balloon’ payment. Deferring the GMFV to the end of the agreement in this way means that your regular monthly payments are lower than those on a comparable HP agreement over the same term.

Before choosing a PCP, you need to consider the following:

  • You will need to agree up front the mileage you will cover and stay within this
  • Early termination may result in additional costs
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Current representative APR

8.9% APR

Oracle Finance is a Credit Broker and not a Lender.

This means that we deal with a wide range of financial institutions to give our customers a greater choice of competitively priced options. For your protection, Oracle Finance is authorised and regulated by the Financial Conduct Authority for the sale of consumer credit. Oracle Finance is a trading name of Oracle Asset Finance Limited.


Personal Contract Purchase (PCP) Car Finance