A Comprehensive Guide to Conditional Sale Finance
Conditional Sale Finance is a straightforward and popular way to finance a vehicle. If you’re looking for a car finance option that allows you to spread the cost of your…
Personal Contract Purchase (PCP) is a flexible and affordable way to finance both new and used cars. Here we’ll explore how PCP works specifically for used vehicles, including the benefits, drawbacks, and key considerations. By understanding the details of PCP for used cars, you can make an informed decision that best suits your financial situation.
What is PCP?
Personal Contract Purchase (PCP) is a type of car finance that allows you to make lower monthly payments compared to other finance options, with the flexibility to buy the car, return it, or trade it in at the end of the contract.
How Does PCP Work for Used Cars?
PCP for used cars operates similarly to PCP for new cars, with a few differences. Here’s a step-by-step breakdown of how it works:
Benefits of PCP for Used Cars
Drawbacks of PCP for Used Cars
PCP vs. Other Finance Options
| Feature | PCP for Used Cars | HP for Used Cars | Personal Loan for Used Cars |
|---|---|---|---|
| Ownership | Optional at end of term | Automatic at end of term | Immediate |
| Monthly Payments | Lower | Higher | Higher |
| Deposit | Usually Required | Usually Required | Not necessarily |
| Mileage Restrictions | Yes | No | No |
| Final Balloon Payment | Yes | No | No |
| Flexibility | High | Medium | Low |
Eligibility for PCP on Used Cars
To qualify for a PCP agreement on a used car, you typically need:
For those with bad credit, there are still options available. Check out our bad credit car finance page for more details.
Steps to Apply for PCP on a Used Car
FAQs About PCP for Used Cars
Conclusion
PCP for used cars provides a flexible and affordable way to finance a vehicle, with lower monthly payments and multiple end-of-term options. By understanding how PCP works and considering your financial situation, you can choose the best car finance option for your needs. For more information and personalised advice, explore the resources available at Happy Motor Finance.
Chelcie RoweExcellent customer service. Friend, helpful and patient. Knowledgeable and reassuring. This company helped when nobody else could in regards to finance, and Leon was exemplary.
Celin RoisinKirsty has been an absolute star the entire way - even when we had to change car last minute, she had it sorted and kept me feeling confident and secure throughout the entire process! I would recommend her to anyone and whoever gets her as an advisor is so lucky!!!!
Andrew DeanReally smooth process, the guys were great from start to finish and couldn't be happier with my new car. Legends!
Dyan WalkerExcellent service. Ali was professional, attentive and extremely thorough. He explained everything clearly and was able to close the deal for me quickly. Initial contact was made on Saturday and by Monday everything was completed. 5* service.
Martin BallHello well had never brought a car this way before but was helped though the whole thing by great staff found a great car and within 24hours had a new car 5⭐ customer service
Toni SeraphinWas not expecting to be looking for another car so soon... and this was at no faulty of Happy motors... They handled the issue with my first car rapidly. Damian, Leon on the day of the bad event went above and beyond to rectify the issue and dealt with the dealership. This meant that Kirsty had to put up with me once again to find another car... and bless her understanding and patience again for dealing with me haha! I eventually found my car, and again Kirsty and happy motors were superb, quick and efficient fro. Auto trader add to the car being at my door... superb. I recommend this team to anyone and will spread their name far and wide.. and sorry to say Kirsty... I will definitely be back again without doubt or hesitation.
John Henry Oluebube MadukaI recently had the pleasure of working with Kirsty at Happy Motor Finance to secure financing for my new car, and I am beyond impressed with the service I received. From the moment we connected, Kirsty was incredibly knowledgeable, patient, and attentive to my needs. They took the time to explain all the financing options available to me, ensuring that I could make an informed decision.What stood out the most was their commitment to finding the best possible Car, rates and terms that fit my financial situation. Kristy navigated through the paperwork with ease, making the entire process smooth and stress-free. A couple of times I was feed up and wanted to give up but Kirsty reassured me that this will workout in the end. Thanks to Kirsty's expertise and dedication, I am able to drive away in my dream car with a financing plan that works for me. I highly recommend Kirsty from Happy Motor Finance to anyone looking for a reliable and supportive finance company and representative. Thank you, Kirsty, for your outstanding service! I appreciate You😊
Kane MillerThank you so much for the help and it was fast, easy and straightforward thank you Ali for the help if I could give you a 10 star I would 🌟⭐️
Hashem AhmedAs a seller, the whole process was absolutely professional and swift. Would highly recommend and definitely work with again!
Alex Timmins-JonesVery helpful and a personal touch. 99% of companies just click a button and leave you alone if rejected. Happy actually worked hard to understand my circumstances and make efforts to match. All completed in a couple of days start to finish. They obviously have a unique selection of finance companies on hand to support. Very happy with happy
