Hi there,

You mean PCP, we presume. PCP, or a Personal Contract Plan, is good if you’re looking for low monthly repayments on a new car, but it really only works properly if you take two things into account. One, the car has to be kept in pretty much perfect condition and you can’t go over the agreed annual mileage or you’ll incur extra costs. Two, you really, really want to have to commit to trading in at the end of the PCP agreement and buying another new car. If one or both of those look like a problem to you, then a more old-fashioned Hire Purchase agreement, or taking out a bank or credit union loan is better for you.