What to check on a PCP offer
A PCP quote usually shows a deposit, monthly payments and an optional final payment if you want to keep the car. The agreement may also set an annual mileage limit and a guaranteed minimum future value (GMFV). Check the representative APR, the length of the agreement, any deposit contribution and the total payable if you make the final payment. MoneyHelper explains the payment structure, mileage and end-of-contract choices; the specific lender agreement controls the offer. [7]
Compare HP and Personal Contract Hire (PCH) separately
With HP, compare the deposit, instalments plus interest, any option-to-purchase fee and the amount payable to complete ownership. PCH is a rental agreement: compare the initial rental, monthly rentals, contract term, mileage allowance, return conditions and total lease cost. APR is not a like-for-like comparison field for a lease. MoneyHelper explains the HP and PCH structures; the written agreement sets the provider’s terms. [32] [33]
Build a like-for-like comparison
For PCP or HP, record the deposit, APR, amount financed, payment schedule and total amount payable; include any optional PCP final payment and the end-of-agreement choice. For PCH, record the initial rental, monthly rentals, term, mileage allowance, return conditions and total lease cost. Check eligibility, model or dealer restrictions and offer dates where applicable. Verify the current written terms rather than assuming every offer has the same conditions. [5] [8] [32] [33]
A useful comparison makes those terms visible beside the headline payment. Browse current UK new-car offers, shortlist the relevant route, and confirm the final quote and contract with the manufacturer or dealer. For broader APR and deposit-contribution context, see our general new-car finance guide. This guide is general information, not personal financial advice.