We call our PCP offering Flex Car Plan, because it can give you the flexibility to switch to a newer car more often. At the end of your agreement, you have three options:
With PCP, you can afford to relax, because you get a guaranteed future value for your car. If you keep it in tip-top shape and within the agreed mileage limit, you have the option to return it at the end of the agreement with nothing left to pay.
With PCP, you get affordable monthly payments. This is because a big part of what you repay is deferred into an optional final lump sum, which keeps your monthly costs low. In fact, your monthly payments are lower than if you borrowed the same amount at the same rate over the same term through Hire Purchase (HP) or a Personal Loan. However, remember, you may end up paying more overall.
Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Bank of Scotland plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.