At the end of your PCP agreement, you have three options to choose from. You can return the car to your lender like a normal leasing agreement. This will require no extra costs provided you remained inside your annual mileage allowance and the wear and tear guidelines.
You can pay off the guaranteed minimum future value or balloon payment and take full ownership of the car. The balloon payment is calculated at the beginning of the agreement. You can pay off the balloon payment either through a single lump sum or another finance agreement. The third option is that you can part exchange the car and upgrade to another car.
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