Personal contract purchase

How does it work?

At the outset of the agreement we’ll set a guaranteed future value for your car.

You pay a deposit and then make monthly repayments based on the outstanding loan balance less the guaranteed future value.

At the end of the monthly repayment period you’ll have three options;

  • Pay the guaranteed future value and the car is yours,
  • Hand back the car with nothing more to pay*,
  • personal-contractOr, as most of our customers do, part exchange the car and use any equity as a deposit on your next car.
    * Subject to mileage, fair wear and tear.

And what else do I need to know?

  • Typically repayment periods are over 25 or 37 months.
  • The guaranteed future value is based on your repayment period and mileage. This can be set from 6,000 to 30,000 miles per annum.
  • The car can be up to 36 months old at the start of the agreement and must not exceed 60 months at the end of the agreement.
  • A maximum of 40% deposit is allowed and the minimum loan amount is £3,000.
  • As a ‘regulated’ finance agreement, this product is not available to corporate entities, e.g. limited companies.
  • Finance provided by Key Motor Finance on behalf of Santander Consumer (UK) plc, subject to status, terms and conditions. Applicants must be 18 or over. Guarantee/indemnity may be required.