Hi, I’m Paul Loveday at Chippenham Motor Company
and I’m here to talk to you about some of the jargon that we use in the motor trade.
Today, PCP or Personal Contract Purchase. A PCP is a way of helping you into a new car
every 3 or 4 years with affordable monthly payments.
At the end of the term you have three options. Option 1: you can hand the car back with no
liability to yourself. Option 2: you can pay the guaranteed minimum
future value, and you can keep the vehicle. Or, option 3: you can come back and see us
and part exchange it for a new vehicle. Happy days! Thank you for watching.