PCP or a Car Loan – Which is Better?

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Affording a new car has never been so easy, with a range of finance options available. If you are thinking about how to finance your next new car, here are some of the main points you should consider:

  • PCP is good if you just want a car for a certain period. Usually, a PCP finance deal will last for around 3 to 4 years.
  • PCP is only really any good if you can afford it without a deposit. If you are planning to give the car back after the period of your finance deal, you don’t want to put down a deposit or you will lose it. Make sure you can find a deal you can afford without a deposit.
  • Look for loan options. Consider all your options before you make a decision and make sure you fully understand them. Know that you can easily afford the repayments and understand what happens if your circumstances change.