Trustpilot Call Menu Nationwide Delivery Finance Options Make an Enquiry What Is HP? What Is PCP? Make an Enquiry Finance Options at Lings Motor Group At every Lings Motor Group store, we pride ourselves in offering a range of fully flexible finance options, helping you get the vehicle you're dreaming of. Whether it be new or used, our sales executives are trained to help find you the right credit solution for your circumstances, while offering fantastic customer service along the journey. It’s a simple process and all the paperwork can be completed quickly in the showroom, saving you time and avoiding unnecessary hassle. Our video explains more about why financing through Lings Motor Group could benefit you. What is Personal Contract Purchase (PCP)? Personal Contract Purchase (PCP) is a finance product that allows you the opportunity to buy a new or a used vehicle. It is similar to a Hire Purchase agreement as you will usually pay an initial deposit, followed by monthly instalments over a term typically between 18 to 48 months. What makes PCP different to Hire Purchase (HP) is that your monthly instalments are paying off the depreciation of the car or motorcycle, and not its entire value, over the course of the term. Then, when you get to the end of your agreement, there is a final, balloon payment that must be made if you want to keep the car or motorcycle. The balloon payment is often referred to also as the Guaranteed Future Value (GFV). How does PCP actually work? What are the advantages of PCP? What should you consider when option for a PCP? Can I settle my PCP agreement early? Find and finance your next vehicle through PCP What is Hire Purchase (HP)? Hire Purchase is a way to finance buying a new or used vehicle. You will normally pay an initial deposit and will pay off the entire value of the car in monthly instalments. When all the payments are made, the Hire Purchase agreement ends, and you own the car outright. What are the advantages of HP? What should you consider when opting for HP? Can I settle my HP agreement early? Find and finance your next vehicle through HP FREE & FAST Free Valuation When selling or part-exchanging, it is essential to know what your vehicle is worth in order to get the best price. Value My Vehicle Back to Top Terms & Conditions Privacy Policy Cookie Policy Site Map Data Preferences 55 Mendham Lane, Harleston, United Kingdom, IP20 9DW Reg Office: P.F.K. Ling Ltd 55 Mendham Lane, Harleston, Norfolk, IP20 9DW Reg. Company Number: 710435 VAT Reg. No. GB369231679 FINANCIAL DISCLOSURE: P.F.K. Ling Ltd is authorised and regulated by the Financial Conduct Authority. FRN : 307908. We are a Credit Broker not a Lender and can introduce you to a limited number of lenders. We typically receive a fixed commission calculated by reference to the vehicle model or amount you borrow, for introducing you to a lender but this does not affect the interest charged on the agreement, all of which are set by the lender NetDirector ® - Automotive Ecommerce change cookie settings This site uses cookies and related technologies for site operation, analytics and third party advertising purposes as described in our Privacy and Data Processing Policy. You may choose to consent to our use of these technologies, or further manage your preferences. To opt-out of sharing with third parties information related to these technologies, select "Manage Settings" or submit a Do Not Sell My Personal Information request. Manage Settings Accept Recommended