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Personal Contract Purchase (PCP)

Want to know more about how PCP contracts work, the benefits of a PCP contract or find out how to know which finance deal is right for you? Well, you're in the right place. 

To discuss a Personal Contract Purchase and see if it is the best option for you, contact our expert team.

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Personal Contract Purchase lets you keep your monthly repayments lower by deferring a significant proportion of the amount of credit to the final repayment at the end of the agreement. Agree an initial deposit, how many miles you are likely to travel each year and how long you want the agreement to run for and the Duckworth Business Managers will then calculate the Guaranteed Future Value (GFV) of your vehicle and confirm your monthly repayment. The Business Manager will submit the finance application to us and, subject to your application being approved; you can just drive your car away. For this, at Duckworth we use Black Horse.

How Does PCP Work? A Short Video Explanation

  • Borrow any amount from £1,000 and set repayments to suit your budget for terms of 2–4 years
  • Available on new or used cars up to 7 years old at the end of the agreement
  • Flexible deposit options – 0% deposit may be available subject to status
  • Set your annual mileage for up to 24,000 miles a year*. Your annual mileage will affect your monthly repayments and Guaranteed Future Value.

*Some exceptions apply.

The options at the end of the agreement are:

  1. Part exchange the vehicle subject to settlement of your existing finance agreement; new finance agreements are subject to status or
  2. Return the vehicle and not pay the Final Lump Sum Repayment. If the vehicle is in good condition and has not exceeded the agreed maximum mileage you will have nothing further to pay. Further information on what is considered good condition can be found at If the vehicle has exceeded the agreed maximum mileage a charge for excess mileage will apply or
  3. Pay the Final Lump Sum Repayment to own the vehicle.

Ideal if

  • You like to drive the newest model
  • You like to keep your options open
  • You like to budget
  • Lower repayments mean you might be able to afford a newer car
  • Newer model means lower maintenance costs


  • Set repayment periods from two to four years, then take the best option for you when you reach the end of the agreement
  • Protection against depreciation as a result of an unexpected fall in the value of the vehicle when you exercise the ‘Goods Return’ option (when you hand the vehicle back)
  • Protection under the Consumer Credit Act Termination Rights and Protection under the Consumer Rights Act
  • You must have fully comprehensive insurance
  • Your vehicle is at risk of repossession if you do not maintain contractual repayments
  • You do not own the vehicle until the final repayment including interest has been made
  • A significant proportion of the credit is deferred until the end of the agreement; you should prepare for this if you want to own the car
  • Before you decide to apply for finance for a vehicle, we would encourage you to make enquiries of the dealer to ensure you fully understand the history of the vehicle so that you can make a fully informed decision as to whether the vehicle is suitable for you