A finance agreement where you will end up owning the asset once all the repayments have been made. Deposits from as little as the VAT only and terms of up to 7 years depending upon the age of the asset. A final balloon payment can be added for certain assets to reduce your monthly repayments.

Specifically for cars, PCP gives you three options at the end of the agreement- Retain, Renew or Return. Retain the vehicle by paying the optional final payment agreed at the outset. Renew your vehicle by trading it in subject to settling your existing finance agreement; new finance agreements are subject to status. Return your vehicle to the finance company without paying the optional final payment; providing the vehicle is in good condition (fair wear and tear accepted) and has not exceeded the maximum agreed mileage, you will have no more to pay.

An off balance sheet rental facility specifically for cars and light commercial vehicles. The finance company will supply the vehicle to your specifications. They will take a residual position in the vehicle thereby reducing your monthly rental. Maintenance and servicing can be added. You hand the vehicle back at the end of the agreement with nothing more to pay (subject to excess mileage charges and fair wear and tear return conditions being met).

Raising funds against eligible assets you already own. The funder will usually wish to value the asset and then agree an amount to release to you, typically via a Hire Purchase agreement.