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  2. PCP (Personal Contract Purchase) is a popular way to finance a used car1. Here's how it works:
    1. Set up a PCP deal with the dealer and loan company.
    2. Agree on the Guaranteed Minimum Future Value (GMFV) of the car in writing.
    3. Make low or no initial deposit.
    4. At the end of the agreement, you can choose to return the car with nothing more to pay (provided it's in good condition)21.
    Learn more:
    PCP is a very popular way to finance a used car, simply because it allows for low or even nil deposit in some cases. This means you don't have a large initial outlay, and at the end of the agreement you can choose to either: Return the car with nothing more to pay (provided it's in good condition)
    www.evanshalshaw.com/finance/car-finance/used-…
    When you set up a PCP deal, the dealer and loan company will agree with you, in writing, the GMFV. That's Guaranteed Minimum Future Value of the car. So as long as you look after the car, resist the urge to paint it pink, and avoid driving it through a wall, you have the car's value, in three years, in writing at the start of the contract.
    haynes.com/en-gb/tips-tutorials/what-pcp-and-it-be…
     
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