Personal Contract Purchase (PCP) explained:
Personal Contract Purchase (PCP) can help you to buy your dream Ducati with lower monthly repayments than a Hire Purchase (HP) product as a large proportion of the amount you repay is deferred into an optional final repayment. You will pay more interest on a PCP agreement than a HP agreement for the same loan amount, term and Annual Percentage Rate of Charge (APR) as your balance reduces more slowly due to the optional final repayment.
You will decide an initial deposit, term and how many miles you’ll ride each year.
The monthly repayment amount and the optional final repayment amount will be calculated based on the anticipated value of the Ducati at the end of the agreement.
At the end of your agreement, you have three options;
- part exchange your Ducati (new agreements, subject to status),
- return the Ducati (return conditions apply),
- or pay the option final repayment and own the Ducati.