PCP (Personal Contract Plan) is a flexible Hire Purchase agreement that enables you to have a reduced monthly payment thanks to a Guaranteed Minimum Future Value (GMFV) for your car in 2 or 3 years’ time.
HOW DOES IT WORK?
A. DEPOSIT & MILEAGE
You pay a flexible deposit and select an anticipated annual mileage at the end of your agreement. J.J. Burke Renault will agree a GMFV (calculated from your deposit + expected mileage) and you repay the difference between both
B. MONTHLY PAYMENTS
C. Flexible options
At the end your PCP you can – upgrade to a new car (with a new PCP agreement), keep your current car (making the final payment) or simply hand back the keys (with no further payments)