Fiat Personal Contract Purchase (PCP)

As one of three common options for arranging car finance, Personal Contract Purchase (PCP) can simplify vehicle ownership for many drivers. Depending on your circumstances, it may be the more affordable way to own and drive a new Fiat.

You will need to pay a deposit and decide on a mileage limit when arranging a PCP plan at the dealership. A Guaranteed Future Value (GFV) of the vehicle will be established, and deferred to the end of the plan as a “balloon payment”.

Agreements typically last for three years. Monthly payments on PCP are based on the car's predicted depreciation rather than the current value. This can make the payments lower than on other types of finance.

PCP gives you options when the agreement comes to an end. Similarly to Hire Purchase, you can make all outstanding payments and become the full legal owner of the vehicle. You can alternatively return the car with no further payments to make, or use it in part-exchange for another model. This gives you greater flexibility to enjoy a new model every few years.

If you decide to return the car, it must be given back in 'good repair and condition' given the length of the agreement. You must also ask permission to make modifications, such as adding a towbar.

To find out more, visit our Fiat dealership in Newcastle-under-Lyme, enquire online or give us a call on: 01782 622141

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Video Explanation of (PCP) Personal Contract Purchase