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We offer easy finance options with payments that suit you. You can tell us how much you want to pay monthly, how much deposit you would like to put down and give you the option of flexible contract lengths. We will take it from there. At Fawdington's we offer PCP (personal contract purchase), HP(Hire Purchase) and Contract hire. To help you find the best way to finance your car for your individual circumstances.
What is PCP (Personal Contract purchase)?
A PCP finance agreement offers smaller monthly payments during the repayment period and finishes with a larger balloon payment. When setting up the contract agreement you set a mileage limit per year. Once you reach the final payment you have multiple options.
- You can either pay the guaranteed future value in full and own the car outright.
- Hand back the keys and walk away
- Trade the car, clearing any existing finance on the car and taking the remainder (if applicable) as deposit for your next car.
What is HP (Hire Purchase)
In many ways similar to a PCP, HP lets you set your deposit and the length of time you want to repay the finance with the maximum term being 49 months. The difference to PCP being that there is no final balloon payment so the monthly payments are generally larger amounts than their PCP equivalent. You only own the vehicle after the final payment has been made.
What is Contract Hire?
Contract hire is where you lease the vehicle over a set period of time making monthly payments during the contract. Once the contract is complete the vehicle is handed back to the leasing company.