PCP: from £580 pm
HP: from £739 pm
What's the difference between Hire Purchase (HP) and Personal Contract Purchase (PCP)?
Please note: Dealers are responsible for the content of their listings and are expected to include all fees in the advertised price. You should always confirm all listing details with the dealer before purchasing.
Calculate how affordable this Audi S3 Sportback could be per month.
What's the difference between Hire Purchase (HP) and Personal Contract Purchase (PCP)?
AA Car Finance will introduce you to Northridge Finance as the preferred lender.
HP is a finance plan that allows you to spread the cost of the car by making monthly payments over an agreed term.
You make higher monthly payments than a Personal Contract Purchase (PCP) agreement, so that when you come to the end of the agreement you'll own the car.
Unlike PCP, there are no limits on mileage.
HP could be right for you if want to own the car at the end of the agreement, without the need to make a larger final payment.
PCP is a finance plan where you make equal monthly payments over an agreed term, with a larger final repayment due at the end if you decide to keep the car.
At the end of the agreement, you have three options. You can hand the car back to the finance company (the must be in good condition and within the agreed mileage, otherwise charges may apply), part exchange it for another car on a new agreement (subject to status), or pay the final repayment to own the car.
PCP could be right for you if you're thinking of changing your car in the next few years, or if you're unsure whether you want to buy the car at the end of the agreement.
Borrowing £10,000 at a representative APR of 12.4%, annual interest rate (fixed) 12.4%, 59 monthly payments of £221.08 followed by 1 payment of £231.08, total cost of credit is £3,274.80*, total amount payable is £13,274.80.
*The representative example includes an estimated option to purchase fee of £10. This is subject to status and although fees may vary in amount and when payable, the total cost of credit and APR received will not alter. This representative example is for illustration purposes only and does not constitute an offer. Written quotations are available on request and finance is subject to status.Borrowing £16,000.00 at a representative APR of 12.4%, annual interest rate (fixed) 12.4%, deposit of £0, 48 monthly payments of £294.92, optional final payment £7,644.00 (inc. £10 option to purchase fee), total cost of credit is £5,800.16†, total amount of credit is £16,000.00, total amount payable is £21,800.16.
Representative Example is for AA PCP agreement for a Ford Focus Estate with a contract mileage of 10,000. Optional final payment not payable if you opt to return the vehicle at the end of the agreement (vehicle condition, excess mileage and other charges may be payable). This quotation is not a binding offer to enter into a finance agreement.
†AA PCP Finance is provided by Evolution Funding Ltd. AA Cars introduces you to Evolution and both are credit brokers and not lenders. The payment received by the AA from Evolution will vary dependent on your chosen lender.
Let us break it down for you. Finance can be confusing, but we’ve made it simple.
Understanding financeFor RE72LLM
Get peace of mind with an instant full vehicle history check and uncover any potential issues before you buy.
Get this vehicle checkedThis dealer is an AA approved franchise dealer.
12 months’ free breakdown cover, or an upgrade if you’re a member
Find out moreUnlock your offers up to six months after buying one of our vehicles.
Activate cover ^T&C's applyTake out a quote today and we will automatically apply 10% discount.
Sell your car for a great price with our trusted partner Motorway.
Get an instant valuationConnect with us
