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Personal Contract Purchase (PCP) finance

Here’s what you need to know to help decide if a Personal Contract Purchase (PCP) deal is right for you.

How a PCP deal works

PCP is a finance plan where you pay a deposit followed by fixed monthly instalments, with an optional final payment. It allows you to spread the cost of the car over a period of time and could be the right option if you like to change your car regularly.

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PCP might be right for you if you:

  • Are thinking of changing your car in a few years time.

  • Want to make lower monthly payments with an optional final payment at the end to own the car.

  • Want a more expensive model with lower monthly payments.

What happens at the end of the PCP agreement?

The length of your agreement can be between 24 and 48 months and you have three options when it ends:

  1. You can hand the car back to the lender
    The car needs to be in good condition and within the agreed maximum mileage or you may need to pay additional charges. Most lenders will pick up the car but it’s worth checking the terms of your finance agreement.

  2. You can change the car for another one 
    If the actual market value of the car is higher than what the lender predicted, you can put the difference towards a new agreement, subject to your financial status.

  3. You can buy the car 
    At the end of the agreement there will be a 'balloon' or 'optional final payment'. This is the predicted value of what the car will be worth and is also the final amount you’ll need to pay if you want to own the car. If you decide to make this payment, including any purchase fees, you’ll then own the car.

HP or PCP - which is right for me?

Understand the difference between HP and PCP finance with our comparison video.

Learn more about HP finance

Check your eligibility with no impact to your credit score

Before you apply for a PCP agreement, see how likely you are to be accepted with our car finance checker. You can browse cars suited to your monthly budget and we'll also tell you your likely personal APR.

You can get a used Cazoo car before your current finance agreement ends

At Cazoo, you can part exchange your current car even if you have finance left to pay on it.

Whether the value of your car is higher or lower than what you still owe, we can take it off your hands.

Part exchange before your finance ends

How financing a Cazoo car on PCP works

  1. Find your Cazoo car

    Browse great value used cars that are available on PCP.

  2. Apply for finance online

    Choose the right PCP deal for you. You can also choose to part exchange your old car.

  3. Sign your agreement

    Get approved within minutes, pay a deposit and sign all documents online.

  4. Book your car handover

    Collect your car from a Customer Centre or we'll deliver it to your door.

Popular questions about Personal Contract Purchase

“The whole process was so easy, from start to finish, the courtesy calls we received were well timed, friendly and informative. The finance for our PCP was all done electronically and with no fuss.”

Andrew Knight

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