Which sort of auto loan is best for you: PCP
or HP?
With our helpful guide, learn the difference between a Hire Purchase (HP) and a Personal
Contract Plan (PCP) for buying a new or used automobile.
Automobile finance is a popular option to purchase a new or used car; in fact, 91 percent of
British motorists prefer monthly payments to cash purchases. It might be difficult to determine
which type is ideal for you, so read on to learn more about the two most common types: hire
purchase (HP) and personal contract plan (PCP).
It's always a good idea to know exactly what you're getting into when it comes to a financial
arrangement, so you should be aware of the differences. You'll be more equipped to make an
informed decision about which option is best for you. It will also assist you in determining
whether finance is appropriate for you in the first place.
Continue reading to learn everything there is to know about HP and PCP, including what they
are and when to use one over the other.