What is Personal Contract Purchase?

  • NatWest Flex Car Finance is a personal contract purchase agreement (PCP), which means you'll repay the difference between the car's current value and its value at the end of your agreement (the depreciation), plus interest.
  • As you'll only pay off the depreciation rather than the car's whole value, it usually means you'll have lower monthly repayments than a comparable loan over the same term. You can also select your deposit and how long you want the agreement to last.
  • At the end of the agreement you have the flexibility to choose what you'd like to do next. You can keep the car (by paying a final larger payment), hand it back (mileage & condition fee may apply), or trade it in and refinance.