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Personal Car Contract Purchase (PCP)

Personal Contract Purchase is a personal contract for the private individual. It is a conditional sale agreement covered under the consumer credit act which allows you the option to purchase the vehicle, or to simply hand it back to the contract provider at the end of the contract term (subject to settlement of any excess mileage and unfair 'wear and tear' - (look for the BVRLA fair wear and tear standard guide)

Personal Contract Purchase can provide hassle free motoring and personal user and will remove the tax liabilty (BIK) benefit in kind tax for company car drivers who need or want to drive a more expensive or high CO2 emmission rated vehicles. You can elect to include the same comprehensive service, such as maintenance and repair options although you will be responsible usually for the annual Road Fund Tax for following years, although many lease providers now include this (check with your broker or lease provider. Finance payments are not subject to VAT, albeit if chose the optional service package VAT will be payable on the service costs.

You will need to decide whether you wish to complete the purchase of your vehicle, or return it to the lease company and take out a new contract on a new vehicle.

If you are considering changing your vehicle, your next step is to contact one of our advertisers to let them know how you might like to proceed. Alternatively, click on any advert and hyperlink to your chosen supplier click "QUOTE ME" for a quotation or telephone for further information.

Also see Personal Car Leasing

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