The pros and cons of Personal Contract Plans (PCPs)

Personal Contract Plans are not suited to everyone, so study what’s best for you, writes Geraldine Herbert An increasingly popular way to finance a new car is under a Personal Contract Plans (PCP). But what exactly is a PCP and who is it best suited to? Nearly all car manufacturers now offer PCPs. Under this type of scheme the repayment schedule is split into three very distinct parts. First, a deposit is paid – usually 10%...