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FINANCE - CONSUMER FINANCE  


PERSONAL CONTACT PLAN

Introduction:
Ideal for those that wish to enjoy the benefits of upgrading their car every two or three years. Personal Contract Plans (PCP's) allow you the freedom to achieve this, whilst taking advantage of monthly payments which are lower than some traditional finance schemes.

How it works:
Initial rental is paid on delivery, and monthly rentals are payable over an agreed period with a guaranteed larger “Final Payment” offset until the end of the term. At the end of the agreement, which is usually two or three years, you can select one of three options:

1. You return to the dealer and trade in your car for a new model by using the difference between the “Final Value” and the car’s actual worth as a deposit. This allows you to enjoy all the benefits of a newer car.

2. Pay the “Final Value” and keep the car.

3. Hand back the car and simply walk away, with nothing to pay (subject to mileage and condition of the vehicle).

Benefits:
· Low monthly repayments
· Leaves savings and bank credit line intact
· New car every two or three years
· Repayments tailored to suit your budget
· Flexible choices at end of the term
· Guaranteed "End Value" meaning finance company bears any risk

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