PCP is a Personal Contract Purchase.

A PCP deal is setup so that you only pay back a portion of the car’s value over the finance term, with a final optional payment at the end of the term. It also features an annual expected mileage factored into the deal.

At the end of the term you will have three options:

You can decide to own the car by paying the optional payment. This can be paid as a single amount or refinanced to suit you.

You can part exchange the vehicle to pay off the finance and put any additional amount towards a new vehicle.

You can simply hand back the vehicle at which point – assuming the vehicle is in good condition – you will not be obligated to continue the payments and will be released from the contract.

We will always be there to help you work out the best option and provide any other information you may require.

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What if I don’t get approved?

We work with a range of finance companies who are able to help people who cannot regularly get approved. In many cases these companies may charge a higher rate of interest, however we would never want to recommend any finance option that did not work in the best interests of our customers.

We will always endeavour to ensure you get approved by matching you with a vehicle that you can afford the repayments on.

Who are you regulated by?

Maple Garage Ltd are authorised and regulated by the Financial Conduct Authority for consumer credit purposes. We are a broker for finance and not a lender.

We can introduce you to a limited number of lenders and finance products to assist with your purchase, who may pay us for introducing you to them. FCA number: 656116.

You can check this on the FCA’s website www.FCA.org.uk/register or by contacting the FCA on 0300 5008082.

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