Inchcape Finance - Hire Purchase

Inchcape’s vast experience in financial services over many decades means we can arrange very competitive finance packages to help you buy the car you want in the way that suits you best.

Option 2 Personal contract purchase

Personal Contract Purchase (PCP) could offer a lower cost and more flexible alternative to Hire Purchase. A lower monthly payment is achieved by allowing you to finance the difference between the price of the vehicle and the projected value of the vehicle at the end of the Contract Term. PCP also offers much greater flexibility at the end of the contract.

How it works

At the end of the contract you can simple give the car back to Inchcape, trade it in for a replacement vehicle or buy it for the guaranteed future value set at the start of the contract.

PCP has been developed to allow you to change your vehicle more often than other forms of finance as effectively all you are paying for is the depreciation of the vehicle, and you have the comfort of knowing that we will guarantee to buy back your car back at the end of the contract at a pre agreed price set at the start, this price is known as the ‘Guaranteed Future Value (GFV)’.

The contract can be set from 24 to 42 months allowing you the flexibility to decide how long you would like to keep the car before you change it. When you reach the end of the contract you have three options:-

Option 1

If you think the vehicle is worth less than the GFV simple return the vehicle to us. As long as it’s in good condition and has not exceeded the agreed mileage, you have nothing more to pay. We guaranteed this future value with you at the start of the contract, we will absorb the loss and allow you to choose a new vehicle and start again.

Option 2

You can keep the vehicle by simple paying off the outstanding GFV

Option 3

You can part exchange the vehicle against your new car and whatever trade-in value we give you greater than the GFV can go towards your deposit, and lower the monthly payments, on your new agreement. Alternatively, you could sell the vehicle privately and keep any profit over and above the GFV

Excess Mileage

At the beginning of the agreement, you decide on the total mileage you expect to do. If, at the end of the agreement, having chosen to hand your vehicle back, your mileage exceeds the agreed level, you simply pay a fixed amount for every extra mile.

Wear & Tear

It is in your interest to minimize the vehicle's 'wear and tear' and not exceed the agreed mileage. When the agreement has finished, the vehicle may well be worth more than the MGFV, providing you with extra value. In simple terms 'normal wear and tear' means that for its age and mileage, the vehicle is in fair working order, condition and repair.

Peace of Mind

You have the option to protect your payments in the event of you not being able to work through sickness, accident or unemployment, or the full balance paid off in the event of death. You also have the option to take a ‘Gap’ policy which, in the event of your car being written off, will protect any shortfall between your insurance payout and the original invoice price.

Finance example

The following example is based on a 3dr hatch and is for illustration purposes only. Please note that rates may vary; for an up to date quotation please contact us.

Cash price on the road*



Period of agreement (months)
36 + GFV

First monthly payment**

35 monthly payments

Final monthly payment, GFV***

Total amount payable


*Includes VAT, delivery charge, number plates, one year’s road fund licence and first registration fee.
**Includes £140 acceptance fee.
***Includes £95 credit facility fee. Based on 10,000 miles per annum. Excess mileage charged at 6p per mile.

For further information simply ask for a quotation when you enquire about your vehicle. We are a licensed credit broker and written quotations are available on request. Note that all finance is subject to status and indemnities may be required.

top of page

Inchcape Retail Limited is an appointed representative of Inchcape Retail Limited which is authorised and regulated by the Financial Services Authority in respect of insurance mediation activities only.

Inchcape Retail Limited, Registered in England and Wales No. 194561.
The Cooper Group Limited, Registered in England and Wales No. 821770.
Gerard Mann Limited, Registered in England and Wales No. 660644.
Chapelgate Motors Limited, Registered in England and Wales No. 2841981.

Registered Office:
Inchcape House,
Langford Lane,