(PCP) Personal Contract Purchase

Continental Leisure are pleased to be able to offer our customers a new way of paying for their new motorhome, 

With Black Horse Personal Contract Purchase (PCP) your customer can keep their monthly payments lower by deferring a significant proportion of the amount of credit to the final payment at the end of the agreement. Agree with them an initial deposit, how long they want the agreement to run for and how many miles they are likely to travel each year. Explain the 8,000 miles per annum maximum and if they wish to travel further another product may be more appropriate. You’ll then be able to calculate the Guaranteed Future Value (GFV) of the caravan or motorhome and confirm the customer's monthly payment. The finance application is submitted to us and subject to the application being approved; the customer can just drive the caravan or motorhome away.

How it works:
Available on new caravans or motorhomes only
Deposit:                      Flexible Deposits, 0% may be available subject to status 
Amount:                      Borrow any amount from £1,000 – £250,000 
Mileage Restrictions:  A maximum of 8,000 miles per annum (motorhomes only)
Term:                          Between 1 and 5 years

At the end of the agreement, there are three choices:

(1) Part exchange the caravan or motorhome subject to settlement of the existing finance agreement; new finance agreements are subject to status.

(2) Return the caravan or motorhome and not pay the Final Lump Sum Payment. If the caravan or motorhome is in good condition and has not exceeded the 8,000 per annum agreed maximum mileage (motorhomes only) you will have nothing further to pay. If the motorhome has exceeded the agreed maximum mileage a charge for excess mileage will apply. Further information on what is considered good condition can be found at: 

Motorhomes: www.blackhorse.co.uk/MotorHomeGoodConditionGuide 
Please click here to access a printer friendly version of the good condition guide. 

(3) Pay the Final Lump Sum Payment to own the caravan or motorhome.

What you need to know about Personal Contract Purchase with Black Horse?

The maximum annual mileage will be set at 8,000 miles per year
Protection under the Consumer Credit Act Termination Rights and Protection under the Consumer Rights Act
Protection against depreciation as a result of an unexpected fall in the value of the motorhome when you hand the motorhome back

Ideal if:

you like to drive the newest model
you like to keep your options open or you
like to budget

You must have fully comprehensive insurance
Your motorhome is at risk of repossession if you do not maintain contractual repayments
You do not own the motorhome until the final payment including interest has been made
A significant proportion of the credit is deferred until the end of the agreement you should prepare for this if you want to own the motorhome
It is only available on new motorhomes

Why choose Personal Contract Purchase? 

Personal Contract Purchase is a type of hire purchase agreement that lets you keep your options open. You don’t need to decide now - if your circumstances change over the years you’ve got options.

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Please contact me about your Personal Contract Purchase deals