Contract Purchase

A flexible purchase option that defers part of the purchase cost to the end of the agreement.   It offers lower monthly payments than traditional finance plans by having a final optional payment, and is particularly appropriate for customers who prefer to change their cars every 2 or 3 years.

At the end of the contract you have the freedom of:

  • Owning the car, by paying the final payment
  • Handing the vehicle back, without incurring further cost (subject to fulfilling the terms of the contract, and by paying a option to purchase at the start of contract (normally around £150)
  • Part exchange you car for a new model, using any difference between the guaranteed final payments and the trade in value. 

The benefits of personal contract purchase

  • Affordable fixed monthly payment
  • You can often enjoy a better vehicle or specification than you may have considered, due to the structure of the repayments
  • Flexibility
  • Guaranteed final payment
  • Minimum value of vehicle set at outset
  • Payments not subject to VAT