During recessions and adverse financial climates the people of Britain have often looked to alternative methods of acquiring a car. One of these methods is to take part in a leasing deal such as Personal Contract Purchase (PCP). These leasing deals can be found through online car buying companies such as Oneswoop.com, one of the first of its kind in the UK.
Whenever a recession or ‘bad’ financial period is over though, many people tend to stick to their PCP leasing deals. This is because of how beneficial it can prove to be, something that you’re sure to agree with once you’ve taken a little look at how PCP works.
Basically it’s a long term rental of a vehicle, paid for through monthly payments. Before entering a leasing contract the price of these monthly payments are negotiated and terms are agreed upon.
It’s at these negotiations that a number of factors are assessed and it is determined what the price of your payments will be. A few influencing factors on the price are; estimated mileage, contract length, initial deposit, financing amount and the value of the vehicle at the end of the term.
There’s even advantages to be had at the end of a term as you can instantly enter another contract with a separate car of transfer ownership of the vehicle to yourself by making a final payment. As you can see PCP is a very financially beneficial option to take, and more than worth your time researching!
Information provided by Oneswoop.com – the free car price comparison website that brings you the very best deals and new car prices. Take a look around the site, see what you can learn and find the best PCH, BCH, LP, HP and PCP deals.