PCP deals are typically only available to individuals with a good or excellent credit rating, so if you have a less-than-favourable credit score you may want to consider a finance option available to a wider range of credit backgrounds. For example, with Hire Purchase (HP) the cost of your loan is still divided into affordable monthly payments, but this time it covers the full cost of the vehicle and you own it at the end of the contract. Lease Purchase is similar to PCP where you have the option to defer part of the cost to the end of the agreement, but differs in that the final Balloon Payment is not optional.