This will depend on the type of agreement you take out. With a PCP deal: You can make a final payment, known as a balloon payment, to keep the car at the end of the deal. Alternatively, you can start a new PCP contract on a new car or hand the keys back and walk away. With an HP deal: At the end of this fixed term you'll own the car outright without the need to make a large final payment (although you may be charged an administrative 'option to purchase' fee).