Results for tag: "Personal Contract Plan"

Personal Contract Plan (PCP) is a type of automotive finance that allows customers to purchase a vehicle with a deposit and then make monthly payments over an agreed period of time. At the end of the contract, customers have the option to either return the vehicle, pay the remaining balance to own the vehicle, or trade it in for a new one. PCP is a popular choice for customers as it offers flexibility and the potential to drive a more expensive car than they could otherwise afford. PCP agreements are typically structured with a fixed interest rate and a fixed monthly payment. The customer pays a deposit, followed by a series of monthly payments over an agreed period of time. At the end of the contract, the customer has the option to either return the vehicle, pay the remaining balance to own the vehicle, or trade it in for a new one. PCP is offered by a variety of automotive finance companies, including Volkswagen Financial Services, BMW Financial Services, Ford Credit, and Mercedes-Benz Financial Services. Show Less Read more