PCP car finance can be a great option if you want a brand new car, lower monthly payments and a short-term finance deal. There are also some major drawbacks though, like the fact that you won’t own your car when the finance deal is complete. PCP can be a good decision, as long as you know what you are getting yourself into.

If you are interested in a PCP car finance loan, speak to your local dealer to see what they are able to offer you. If you are part exchanging a vehicle, this will also bring down your monthly payments. Do just bear in mind that you will not own anything at the end of your deal, so if you decide to give the car back, you have part exchanged a vehicle you owned and will have nothing to show for it. Go into the deal understanding the ins and outs and keep all relevant paperwork.