PCP - Personal contract purchase
Personal contract purchase is a loan, where you can off-set some of the balance of the loan to the end of the agreement benefitting from a lower monthly payment. This will be calculated based on the mileage and the term of the agreement. You will not own the vehicle at the end of the agreement unless you choose to pay the optional final payment.
HP – Hire Purchase
Hire purchase is a finance package where you will pay a deposit for the vehicle and then spread the rest of the balance over a term to suit your needs and budget. You will not own the vehicle until you have paid the last payment.
PCH - Personal contract hire
Personal contract hire is a long-term lease agreement based on a term and mileage to suit your requirements. You will never own the vehicle and will not have the choice to own it at the end of the agreement. This is available for private use only.
BCH – Business Contract hire
Business Contract hire is a long-term loan agreement based on a term and mileage that suits your requirements. The business will never own the vehicle and will not have the choice to own it at the end of the agreement. This is available for business users only.