What We Do

PCP | Contract Hire

Personal Contract Purchase (PCP) is a flexible and secure way to purchase your car. With PCP, you agree upfront on the car’s mileage, the length of the contract, and its price. Using this information, our lending partner calculates a Guaranteed Future Value (GFV) for the vehicle. Unlike Hire Purchase, PCP offers lower monthly payments because you only pay for the difference between the car’s price and its GFV.

At the end of your agreement, you’ll have three options:

Part exchange the car for a new one, using any equity (if the car’s value exceeds the GFV) as a deposit on your next purchase.

Pay off the GFV to keep the car, using savings or refinancing options we can assist with.

Return the car to the finance company with no further obligations, provided the car meets the agreed-upon mileage and condition standards.

One of the biggest advantages of PCP is its built-in protection. If your car’s value drops below the GFV, you’re not responsible for the shortfall—it’s covered by the agreement. On the other hand, if the car’s value is higher than the GFV, you can benefit from the equity, whether you use it as a deposit for your next car or simply enjoy buying an asset for less than it’s worth.

Contract Hire

Contract Hire is an easy and flexible way to drive a car without owning it. You agree on the car you want, how long you’ll use it, and the yearly mileage. This helps set your fixed monthly payments, which are often cheaper than other options like Hire Purchase.

At the end of the contract, you can:

Return the car to the finance company, as long as it’s within the agreed mileage and condition.

Start a new contract with a different car.

The big advantage of Contract Hire is that you don’t have to worry about the car’s value dropping over time. The finance company takes care of that, leaving you free to enjoy a new car every few years without the hassle of owning or selling.

Hire Purchase | GFV Refinancing

Hire Purchase (HP) is a traditional and straightforward way to finance a car, ideal for those planning to keep the vehicle long-term. With HP, you agree on the car’s price, make a deposit, and then pay fixed monthly installments over an agreed period. Once all payments are completed, the car becomes fully yours.

Unlike a typical bank loan, which is secured against your personal assets, an HP agreement is secured only against the car itself. This means if you have difficulty keeping up with payments, the finance company can reclaim the vehicle, but your other assets remain protected.

GFV Refinancing

Reaching the end of a PCP (Personal Contract Purchase) agreement can feel daunting, especially if you love your car and want to keep it but are unsure how to manage the balloon payment, also known as the Guaranteed Future Value (GFV). Many people assume they have no choice but to either pay off the GFV in one lump sum or give the car back, but there are more options available to make this process easier and more manageable.

We specialize in balloon payment refinancing, offering tailored solutions to help you take control of this final payment. Depending on your car’s age, mileage, and condition, here’s how we can assist:

Extend Your PCP Agreement
If your car still fits your needs and meets the criteria, you can choose to refinance the GFV by entering into a new PCP agreement. This allows you to spread the cost of the balloon payment over a new term, making it easier to budget with smaller, regular monthly payments.

Switch to a Hire Purchase Agreement
Another option is to refinance the GFV through a Hire Purchase (HP) agreement. With this route, you make fixed monthly payments over a set period, and once all payments are completed, the car becomes fully yours. This option is ideal if you’re certain you want to own the car outright without needing to renegotiate or trade it in.

Why Consider Refinancing?

Flexible Payment Plans: Both PCP and HP refinancing allow you to avoid paying the GFV in one large sum, making it easier to manage your finances.

Retain Your Car: If you’ve grown attached to your vehicle, refinancing ensures you don’t have to give it up.

Avoid Depreciation Risk: By spreading the payment, you can continue driving your car without worrying about its current market value.

Tailored to Your Needs: Our refinancing options can be customized based on your individual circumstances, ensuring you find the solution that works best for you.

Whether you want to own your car outright or simply extend your agreement to keep driving it, refinancing your GFV gives you the freedom and flexibility to move forward without unnecessary stress. Let us guide you through the process and find the option that fits your situation best.