Remove Balloon Payment Remove Down Payment Remove Mileage Limit
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Guide to the Common Dealership Terms When Buying A Car

Car Examer

For example, if there’s a £1,000 deposit contribution, that amount goes toward your down payment, reducing what you need to put down yourself. With PCP, you pay lower monthly payments because a large portion of the car’s cost is deferred until the end of the agreement. It’s often called the balloon payment.

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Guide How to Finance a Used Car

Car Examer

Fixed monthly payments : This makes it easier to budget since your payments stay the same. No restrictions : You won’t have any mileage limits or conditions to worry about. Personal Contract Purchase (PCP) PCP is a popular financing option because it often comes with lower monthly payments.

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