What are Personal Contract Plans?
Start driving sooner with Personal Contract Plans
A Personal Contract Plan (PCP) is a simple way to keep your options open. PCPs offer a lower monthly payment than traditional loans, with your payments covering the depreciation of the vehicle based on how much you drive. At the end of your agreement, you have the option to buy your Volkswagen with a purchase fee, trade it in for a new one, or hand it back without another thought.
Watch our Solutions PCP video below to learn more
How does PCP work?
The Deposit
Placing a deposit is optional. If you choose to make one, you can make a payment or a vehicle part‑exchange. Your deposit can be anywhere from 0% to 50% of the vehicle’s value. A higher deposit means a lower monthly payment.
Monthly Payments
Your repayment period can be between 18 and 49 months. With fixed monthly payments, you can choose the contract length that works best for you.
Mileage per year
Determine your annual expected mileage. If you exceed your mileage, there will be mileage fees when you return your vehicle.
End of Contract
You have some options at the end of your agreement:
If you’ve fallen in love with your Volkswagen:
- You can pay the option to purchase fee and the optional final payment then take full ownership of the vehicle.
- You may me able to refinance the outstanding amount instead of making the optional final balloon payment.
If you fancy a change:
- You can part exchange your car for a different Volkswagen on a new PCP contract.
If you don’t want to upgrade or keep your Volkswagen: - You can simply give it back. (Fees may be payable)
Speak to your local Retailer for more information.
Key Benefits of PCP
- Fixed monthly payments
- Lower monthly payments than traditional loans
- Flexible terms from 18 to 49 months
- Choose your annual mileage
- Make a deposit of up to 50% the car’s price
- You choose how the agreement ends:
Return the car
Upgrade to a new car
Keep the car with a final payment
Refinance optional final balloon payment (Check with your Local Retailer)
Things to Keep in Mind
It’s important to keep up to date with your monthly repayments. If you are having any difficulties, please contact us as the vehicle maybe at risk if you don’t.
You may end your agreement before the full term is up, but any remaining payments will affect the final amount left to pay.
Exceeding the agreed mileage, will result in an excess mileage charge that you will need to pay at the end of your finance agreement if you return the vehicle.
If you return the car at the end of your financial agreement in poor condition that is beyond fair wear and tear, you will be required to pay for the damage. Learn more about our Fair Wear and Tear Guide.
How to obtain a settlement figure:
You can obtain an early settlement quote from Volkswagen Finance instantly by logging into your online account.
Alternatively, you can call the 24hr automated Settlements Line on 0330 100 8926. Please make sure you have your agreement number to hand (this is the long number on your agreement paperwork beginning 0000440) along with a pen and paper. A copy of your settlement figure will also be posted to you.
Frequently asked questions about PCP
Get answers to commonly asked questions about Personal Contract Plans
What is PCP finance?
Is PCP better than leasing?
Is PCP or HP better?
Who pays for repairs on a PCP car?
Can you modify a car on PCP?
Explore our Solutions PCP offers
If you feel like a Solutions Personal Contract Plan might be the right fit for you, then check out our latest offers.
