PCP Car Finance

We have lots of finance options to choose from, we’ll find a PCP finance quote to get you on the road. You’ll get an online decision within minutes – without impacting your credit score. Check your eligibility now.

Check My Eligibility
Car Finance Calculator
Creditplus Representative example: borrowing £7,500 over 48 months with a representative APR of 18.9%, an annual interest rate of 18.9% (Fixed) and a deposit of £0.00, the amount payable would be £223.86 per calendar month, with a total cost of credit of £3,245.06 and a total amount payable of £10,745.06. 

1. Apply online

Simply tell us a little bit about yourself and how much you would like to borrow by completing our short online application form.

2. Get a quick decision

Get a quick decision and find the perfect car. If you would like help finding a car we are more than happy to do that too.

3. Fast Payout

Once the lender has done their final checks and if you can proceed, we’ll pay the dealer so all you need to do is pick up the car.

What is PCP car finance?

Personal Contract Purchase, also known as PCP, is a popular type of car finance which essentially means you loan the car from the finance provider for the term of the contract.

PCP is similar to a hire purchase agreement in the sense that you pay a regular monthly amount over an agreed period.

Most PCP car finance agreements are between 24 and 36 months. However, some providers will offer longer.

How does PCP car finance work?

Nine out of 10 new cars purchased in the UK are funded with car finance. PCP (Personal Contract Purchase) is the most popular type of finance, and it’s increasingly the option of choice for used car purchases.

1. You may need to pay a deposit, but many PCP deals don’t require one.
2. Choose the contract length (usually two to five years) and mileage allowance. Make set monthly payments.
3. At the end of the contract, you have three options:

  • Return the car with nothing to pay – even if it’s worth less than expected (provided it’s in good condition and is below the mileage limit set at the start of the contract).
  • Keep the car by paying a lump sum, known as the optional final payment (also referred to as the balloon payment or guaranteed minimum future value – GMFV). You can refinance to spread this cost.
  • ‘Trade-in’ the car for another one. If it’s worth more than the optional final payment, then the difference can be put towards a deposit on another finance deal, helping to lower your next set of payments.

Buying a used car with PCP

PCP is available on new and used cars, typically up to around four or five years old. In both cases, finance incentives may be available, including deposit contribution discounts. Opting for used car PCP finance can be one of the simplest ways to slash your monthly payments, with used cars’ lower cash prices typically resulting in notably lower monthly payments than with an equivalent new model, while PCP offers smaller installments than Hire Purchase would provide for the same car (assuming the same deposit and contract length).

Older cars are not normally available with PCP because it becomes difficult to predict their value at the end of the agreement, so the monthly installments and optional final payment can’t be calculated accurately. In these cases, Hire Purchase finance (HP) is usually offered, which spreads the total cost of a car across a series of fixed monthly payments. You will then own it at the end, though at this stage you are free to sell it and move on to another car.

Let’s get you on the road

We specialise in helping people get vehicle finance. All types of credit profiles considered. 

Frequently asked questions

Our experts have the answers

Why come to Titanic Finance for vehicle finance?

We promise to make financing your next vehicle straightforward and hassle-free. To that end, we have partnered with one of the UK’s biggest car finance brokers (Creditplus). Creditplus share our vision and set of core values. Like ourselves, they are passionate about matching people to a finance package that’s right for them.

We have a large panel of lenders who provide finance options for an array of individuals. From those self-employed to individuals with poor or less than perfect credit histories.

Am I eligible for Car Finance?

You can check your eligibility in a matter of minutes by completing our eligibility checker. Don’t worry there is no impact on your credit rating. All that we ask is that you meet our minimum criteria.

  • Be in full-time employment
  • Have a full UK driving license
  • Be over 18 years of age
  • Earn over £1,000 per month
  • 3 Years UK address history

Do I require a deposit?

A deposit isn’t always required and we have zero deposit options available. If you don’t have the spare cash, you can always part-exchange your old vehicle towards the deposit for your next car.

Can I get car finance if I have a poor credit history?

Having a poor credit history doesn’t mean you can’t borrow money to buy the car you need, but it may mean some lenders won’t approve you.

We work with a handpicked panel of specialist lenders who are more interested in your credit future than your credit past. Our friendly team will help you find affordable finance that suits your individual circumstances.

Latest News & Updates

PCP car finance

PCP Car Finance

Personal contract purchase (PCP) is the most popular way of financing a car. It’s often…

Read more

Don’t just take our word for it
client reviews of our partner

I recently used these guys to sort out my car finance. The whole experience was easy and positive throughout. I was kept informed through every step of the process and it was made very easy for me.
David Higgins
They searched high and low to find me the car that I wanted with the options I wanted at the right price. They were helpful and kept me informed the entire time. Great service, Very
Lauren Meeks