Personal Contract Purchase

Lower monthly payments with a guaranteed rate if you're approved

Representative 5.9% APR (fixed)

About Personal Contract Purchase

What is Personal Contract Purchase

  • Personal Contract Purchase (PCP) is an agreement with a fixed rate of interest, which means that if you're approved this is the rate you're guaranteed to get - no matter how much you borrow
  • Available on nearly new and used cars
  • PCP agreements are an option if you like to change your car often, or are looking for lower monthly payments
  • With a PCP agreement you don’t pay back the full value of the car, and won’t own the car at the end of the agreement unless you choose to
  • You can complete your application fully online
  • You can still view your car in the dealership if you want

How much you borrow and repay

  • Your monthly and final payments are worked out based on how much the car will be worth at the end of your agreement, with interest added on top
  • You'll be asked how many miles you'll drive each year, and you can select how long you'd like your agreement to last, which will help work out how much your car will be worth at the end of your agreement
  • You can borrow between £2,000 and £60,260 at the fixed rate, with the choice to put down a deposit if you want (some cars will require a deposit if the price is 10% or more above the market value), the more deposit you put down, the less you’ll need to borrow and pay each month


End of your agreement

  • You can choose to either hand back the car (relevant charges may apply), trade it in and arrange an agreement on another car, or buy the car with a larger final payment
  • There may be charges applied for any damage that goes beyond fair wear and tear
  • If you go over your agreed miles per year, you will be charged a pence per mile fee

Get a decision online without any impact to your credit score

Great - you've found the car you'd like to finance! You'll need its registration number, price and current mileage to hand.

Let's find your next car! ALD's database has thousands of used cars to choose from, all from approved dealerships.

Useful info

Will I own the car?

At the end of your agreement, you will have the option to purchase the vehicle by making an optional final payment. The payment amount will be calculated and communicated to you before you sign your agreement. During the term of the agreement, the car will belong to ALD, but you will be the registered keeper.

Why do I need to tell you how many miles I drive per year?

To help calculate how much the car will be worth at the end of the agreement, you’ll need to confirm how many miles you’ll expect to drive per year and how long you’d like the agreement to last. 

What am I responsible for?

Once you have the keys, you'll be the registered keeper of the vehicle. This means that it is your responsibility to ensure that the vehicle is taxed, insured and has a valid MOT.

Still considering your finance options?

Personal Loans

If you want to own your car outright from the beginning – why not take a look at our personal loan options?

Eligibility criteria applies.

Personal Contract Hire (PCH)

PCH is an alternative method of car finance that is often referred to as leasing and is available on new cars only.

Eligibility criteria applies.

Legal stuff

Something else we can help you with?