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PCP & Lease Purchase

Exploring PCP and Lease Purchase with Ai Motors

Are you in the market for a new car but unsure about the best financing option for you? At Ai Motors, we understand the importance of choice when it comes to finding the right vehicle and financing solution.

That's why we're here to guide you through the world of PCP (Personal Contract Purchase) and Lease Purchase, empowering you to make informed decisions about your automotive journey.

Personal Contract Purchase (PCP)

PCP is a popular form of vehicle financing that offers flexibility and affordability for individuals looking to drive a new car. It's essentially a type of lease agreement that allows you to use the car for a set period, typically between 24 and 48 months, with the option to purchase the vehicle at the end of the term.

Lease Purchase

Lease Purchase is similar to PCP in that it combines elements of leasing and ownership. With Lease Purchase, you agree to make fixed monthly payments over a predetermined period, similar to a traditional lease. However, unlike PCP where you have the option to purchase the vehicle at the end of the term, with Lease Purchase, you commit to buying the car outright once all payments have been made.

How Do They Work?

Both PCP and Lease Purchase agreements typically start with an initial deposit, followed by fixed monthly payments over the agreed-upon term. The deposit amount and monthly payments can vary depending on factors such as the car's purchase price, depreciation rate, and any optional extras included in the agreement.

During the term of the agreement, you'll have full use of the vehicle while making regular payments towards its cost. At the end of the term:

PCP: You'll have three options:

  • Return the car to the dealer and walk away with no further obligation.
  • Trade in the car for a new one, using any equity towards the deposit on your next vehicle.
  • Purchase the car outright by paying the final balloon payment, also known as the Optional Final Payment (OFP).

Lease Purchase: Once all payments, including any balloon payment, have been made, you'll become the legal owner of the car, free to enjoy it for years to come.

Benefits of PCP and Lease Purchase

Flexibility: PCP and Lease Purchase offer flexibility in terms of deposit amount, monthly payments, and end-of-term options, allowing you to tailor the agreement to suit your needs.

Affordability: With lower monthly payments compared to traditional auto loans, PCP and Lease Purchase can make driving a new car more affordable and accessible.

Options at the End of Term: Whether you choose to return the car, trade it in for a new one, or purchase it outright, PCP and Lease Purchase provide you with options to suit your preferences and circumstances.

Predictable Payments: Both PCP and Lease Purchase agreements typically come with fixed monthly payments, providing predictability and stability in your budgeting.

Start your journey today

Ready to explore the possibilities of PCP and Lease Purchase financing? Discover the freedom of choice with Ai Motors. Our expert team is here to help you navigate the options and find the right solution to fit your lifestyle and budget. Contact us today to learn more about how PCP and Lease Purchase can unlock a world of automotive possibilities for you.