Vauxhall PCP

Once you’ve chosen your ideal new or used Vauxhall vehicle, you’ll be looking for a suitable way to finance it. Here at Baylis Vauxhall, we offer a wide range of flexible options, one of which is Personal Contract Purchase – or PCP.

This is a popular option for customers who like to change their car reasonably regularly, but who prefer low monthly payments that can fit their budget.

How does it work?

PCP differs from a typical loan in that it doesn’t require you to pay off the full value of the vehicle, unless you choose to own it at the end of the contract. There are three parts to the payments:

Deposit – You’ll be required to make a deposit on your chosen Vauxhall. The larger the deposit, the smaller your monthly payments will be.

Borrowed amount – How much you borrow depends on the duration of the agreement and is based on how much the car is expected to lose in value over that time. The deposit amount is subtracted and the resulting sum is what you’ll pay off via fixed monthly instalments.

Balloon payment – This is the balance that you’ll need to pay at the end of the agreement, should you choose to own the car. It’s pre-agreed at the beginning of your contract.

Should you choose not to retain the car, you have the option of returning it to us and walking away or part-exchanging it for a new or used Vauxhall of your choice.

Things to note

At the beginning of the agreement, you’ll set an annual mileage with us. Should you exceed this, a fee applies when you return the car. In addition, it’s worth noting that you won’t own the car, so any damage may be charged for at the end of the contract.

To find out more about PCP, contact us today.