PCP Car Finance: A Smart Deal or a Costly Commitment?

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 asks Geraldine Herbert What is a PCP? PCP (Personal Contract Plan) is a type of car finance that offers lower monthly repayments compared to traditional HP or bank loans. This is because, instead of paying off the full cost of the car, you are only covering its depreciation over the contract...