We all love a bargain but question those eye catching monthly repayment plans.Īs PCP loans are calculated on the future value of the car, the best deals are on cars which retain their value. Keep an eye out for 0% car finance deals, this is where you typically get the best car finance deals. PCP loans can be a great way of financing your new car but shop around first and talk to the car dealership.
In this example you pay no deposit on your new BMW so the PCP loan will be for £17,000.00 (that's £30,000.00 minus £13,000.00.Ĭlearly that is a very simple PCP explanation, most loans and finance attract administration fees and you may be putting a cash deposit down or receiving a dealer contribution which will affect your PCP loan amount and monthly loan repayment calculations. The BMW dealership provides you a residual value (commonly called Guaranteed Future Value) of £13,000.00. Imagine you are looking to take a PCP loan on a new BMW at £30,000.00. Example of PCP Loan - BMW PCP Finance example The car finance is then calculated based on the value of the car now minus the residual value. PCP financing is based on the car's residual value, that is the value that the car is worth at the end of the contract. PCP loans provide relatively low monthly repayments and make car finance very affordable. PCP (Personal Contract Purchase) is a type of car loan. Always check the small print of your car finance loan agreement to ensure there are no hidden charges or caveats that affect the final valuation figure. So, shop around, PCP deals are not all the same.
#Car finance calculator toyota full#
We have also identified that PCP loans vary between car dealerships based on the number of decimal places to which they apply their calculations, these varying approaches can provide stark differences to the amount you repay each month with PCP and the total amount you repay over the full term of the PCP agreement. The credit provider is Toyota Financial Services (Ireland) DAC.This PCP loan calculation is for illustration purposes only and the figures may alter dependent on the PCP finance plan for your car finance. This offer is available on the Toyota model indicated above and registered from now until 31st August 2022. The weekly amount is shown for illustrative purposes only, all instalments are payable monthly. Rate quoted is correct as at the above date and is subject to change. Please note that a maximum term of 49 months applies on Toyota Flex Finance. To qualify for Toyota Flex Finance Offer a minimum deposit of between 7% and 36% of the On the Road Price and a maximum term of 49 months applies. Finance example is based on a fixed rate APR as shown above which is inclusive of a once off documentation fee and purchase fee of €63.49 each. Finance is provided by way of a hire purchase agreement. Figures are indicative and the quotation is for illustrative purposes only and does not constitute a contract. *Lending criteria and terms and conditions apply. Further charges may be applied by your Toyota Dealer subject to kilometre limits/ condition of the vehicle. †† The Guaranteed Minimum Future Value (GMFV) is payable if you renew or retain the vehicle at the end of the agreement. Dealer delivery and related charges may vary.