Personal Contract Purchase (PCP).

Introduction to PCP.

Personal Contract Purchase (PCP) is a flexible and increasingly popular car financing option that offers you the convenience of lower monthly payments and greater control over your vehicle ownership. With PCP, you can drive the car you want without committing to buying it outright. At the end of the term, you have the option to purchase the vehicle, trade it in for a new model, or simply return it.

Whether you’re looking for affordability, flexibility, or the chance to upgrade regularly, PCP is designed to fit your lifestyle and financial needs.

Who is it for?

PCP is perfect for individuals who:

• Love flexibility: It’s ideal if you want the option to own the car, upgrade to a newer model, or walk away after the term ends.
• Prefer lower monthly payments: PCP usually offers more affordable monthly costs compared to traditional car loans.
• Want to drive a newer car: If you like keeping up with the latest models or technology, PCP makes it easier to upgrade every few years.
• Enjoy predictable budgeting: With fixed monthly payments, PCP provides financial clarity.

Whether you’re a young professional seeking your first car, a growing family in need of an upgrade, or someone who loves driving the latest vehicles, PCP is a great option.

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How It Works.

PCP is perfect for individuals who:

• Choose your car
  Select the car you want and decide how long you’d like the agreement to last, typically between 24 and 48 months.
• Agree on the deposit and mileage
  Pay an initial deposit and agree on an annual mileage limit. This will help determine the Guaranteed Minimum Future Value (GMFV) of the car.
• Set monthly payments
  The cost is calculated based on the car’s price, deposit, and how much value it’s expected to lose over the term. You’ll only pay for the depreciation, not the full car value.
• End-of-term options
  When your agreement ends, you can choose from three options:
  • Keep the car: Pay the optional final payment (also known as the balloon payment) and own the vehicle outright.
  • Exchange it: Use any equity as a deposit toward a new car through a new PCP deal.
  • Return it: Hand the car back with no further obligations, provided it’s within the agreed mileage and in good condition.

PCP is designed to put you in the driver’s seat – both literally and financially. Explore your options with Sandal MINI and discover how PCP can make owning your dream car a reality.

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