BUY NOW WITH HOME DELIVERY Search Offers 0 Saved Call Menu Back You are here: Homepage > Finance E2E WHAT IS HP? WHAT IS PCP? Car Finance 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 car. 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, 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. 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 opting 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 car. 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 Delgarth Motor Group At The Delgarth Motor Group we believe in providing customers with the greatest and widest range of both new and used vehicles, an unparalleled level of pre and after-sales service and unbeatable value for money - you'll soon notice the difference when you deal with us. Find your nearest dealer Simply enter your postcode below to find your nearest dealership. All MORE INFO New Cars New Suzuki Cars New Mitsubishi Cars New Kia Cars New Hyundai Cars Used Cars Used Suzuki Cars Used Hyundai Cars Used Kia Cars Used Mitsubishi Cars Contact Us Contact Us Terms & conditions Privacy policy Anti-slavery & Human trafficking policy Site map Hyundai UK Back to Top © 2021 Delgarth Motor Group 300 Stratford Road, Milton Keynes, United Kingdom, MK12 5RS Reg Office: Delgarth Motor Group 300 Stratford Road Wolverton Milton Keynes Buckinghamshire MK12 5RS Reg. Company Number: 01508933 VAT Reg. No. 336184946 FINANCIAL DISCLOSURE Delgarth Limited and Milton Keynes Autorama Limited are appointed representatives of ITC Compliance Limited which is authorised and regulated by the Financial Conduct Authority (their registration number is 313486). Permitted activities include advising on and arranging general insurance contracts and acting as a credit broker not a lender. We can introduce you to a limited number of finance providers and may receive a commission from them for the introduction. All finance applications are subject to status, terms and conditions apply, UK residents only, 18s or over, Guarantees may be required. 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