With Personal Contract Purchase (PCP), you can keep your options open. You choose your deposit and term length, and have three choices at the end of your term.
The key difference between PCP and a standard Conditional Sale agreement is that rather than paying the sum of the entire vehicle over the duration of your agreement and owning it at the end, you have the option to give back your vehicle at the end of your term, or even replace it for a different vehicle on a new finance plan.
The Retailer will calculate an Optional Final Payment before your contract begins, which is a guaranteed figure and therefore remains fixed throughout your term. This Optional Final Payment is a forecast of the vehicle’s worth at the end of your finance term, which takes into consideration factors like the age of the vehicle at the end of the term, and the estimated mileage that the vehicle would have done when it’s handed back.
When calculating your monthly payments, the Optional Final Payment is then deducted from the cost of the vehicle, which means that your monthly payments in a PCP agreement are always likely to be cheaper than in a Conditional Sale agreement.
At the end of a PCP finance term, you have three options with Vauxhall.
Keep it. Pay the optional final payment to own your vehicle
Go for a change. Part exchange your vehicle (where equity is available) for a different Vauxhall on a new plan
Hand it back. If you dont want to keep your vehicle, you're free to return it at the end.
Terms and Conditions: *Flexible PCP terms and conditions Offer subject to availability at participating Retailers only. Personal Contract Purchase. Finance subject to status, Ts&Cs apply. Applicants must be 18+. Finance by Vauxhall Finance, CF15 7YT. 24-48 month term available. Monthly payment has been calculated using a price which includes Vauxhall and/or Retailer contribution where applicable. Vauxhall Deposit Contribution only available when vehicle financed through Vauxhall Finance. At the end of the agreement there are three options: i) Pay the optional final payment to own the vehicle, ii) Return the vehicle, or iii) Replace: Part Exchange the vehicle where equity is available. Offer applies to private individuals, Vauxhall Partners and small businesses 1-49 units. Orders or registrations from 6th December 2019 - 2nd April 2020. Vauxhall Motors Limited reserves the right to change, amend or withdraw this offer at any point in time.