Join Date: Jul 2006
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Personal Contract Purchase
I understand the basics of the personal contract purchase process, but just need to clear a few things up...
If one of my choices is to return the car and take out a new PCP with a new car, how does the guaranteed value effect this? Does the excess value just go towards the deposit on the new car or is it a straight payout?
Also, this may sound like a stupid question (I'm young!) but once all my payments on my current car are paid, is that it?
I'm looking for a catch somewhere... it's actually a really good deal even though I won't actually own the car. I know a lot of people swear by PCP and I can see why.