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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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