Personal Contract Purchase (PCP)
Personal Contract Purchase is a form of motor vehicle finance specifically tailored to the individual, including those who have a poor credit history, bad credit or adverse credit. Here at yourcarchoice.com our team of advisors are experts in the field of motor finance for clients who have bad credit or a poor credit history. We are able assist you with a Personal Contract Purchase for your car finance even if you have adverse credit or a poor credit record, if you have been involved in bankruptcy proceedings or you are currently in an Individual Voluntary Arrangement (IVA).
By taking Personal Contract Purchase (PCP) for your motor vehicle finance we are able help you to obtain car finance to fund your motoring needs by paying in fixed monthly instalments, even if you suffer from adverse credit, have a poor credit rating or a bad credit history. The monthly costs of the car finance are calculated by using the original cost of the vehicle, the length of time of the Personal Contract Purchase contract, an annual mileage and the estimated value of the car at the end of the personal contract purchase agreement. You will know each month the exact cost of your motor vehicle finance by using a Personal Contract Purchase to provide the car finance you need for the car you want.
Using the Personal Contract Purchase method of motor vehicle finance is one of the options open to the individual or personal user, including those who currently have a poor credit history, bad or adverse credit and those who would not pay VAT, as the VAT element is included in the monthly payments in all cases. This type of car finance also gives you the choice of whether to have the vehicle's maintenance costs included in the personal contract purchase agreement or to opt to finance this yourself. A Personal Contract Purchase for car finance is particularly useful for individuals who are in receipt of a monthly car allowance, as we are able to use all or part of the allowance to fund the monthly payments on the Personal Contract Purchase contract - with any shortfall between the individual's car allowance being made up by the user. At the end of the personal contract purchase agreement there is an optional final payment (known as the balloon payment) which gives you, the user, the option to either purchase the car, for the balloon payment, or to return it to the funder.
If you have adverse credit, bad credit or if you have a poor credit history then this need not be a bar to finding car finance - we are experts in the field of providing Personal Contract Purchase contracts for those individuals who have a weak credit record, bad credit or adverse credit and are able to help if you have been involved in bankruptcy proceedings or you are in an Individual Voluntary Agreement (IVA), and will be happy to discuss this further. If you have a new start business and you would prefer not to fund your vehicle through the new start company then a personal contract purchase could be the solution to your motoring needs.
