If your longer term needs are to own a vehicle, then a personal contract purchase arrangement could offer a manageable way of financing your purchase. Despite its contractual nature, many agreements offer a degree of flwxibility about what happens to the car at the end of the contracted period. Your monthly payments VAT free, but if you opt for a service / maintenance package then that will attract VAT for the service element of the monthly costs.
Although ownership is usually the final goal of these agreements, PCP can be ideal for people who like to keep options open at the end of their finance agreement. PCP agreements are structured so that our private customers make a starting payment when the contract is first taken out. This is followed by fixed monthly payments for the agreed period. At the end of the agreement an OFP (this is the Optional Final Payment, often called the GFV or Guaranteed Future Value) can be made which gives you final ownership of your now familiar and trusted car .
Your other options at end of contract include: can . Or, you can simply Finally, you can keep the vehicle either by paying the OFP in full or you will find that most companies offer the opportunity to re-finance the OFP.
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
T: 08000 199405
F: 01524 781417
Lakeland Vehicle Solutions
Clawthorpe Business Centre
Burton in Kendal
Lakeland Vehicle Solutions are a credit broker and not a lender, we are authorised and regulated by the Financial Conduct Authority. Registered No : 712728
Registered in England & Wales with company number : 07433876 | Data Protection No : Z7212672 | VAT No : 856992853
Registered Office : Lakeland Vehicle Solutions Ltd, c/o Meiring CCA, Unit 1 Strands Barn, Strands Farm Lane, Hornby
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