How does it work?​

With Black Horse Personal Contract Purchase you can keep your monthly payments lower by deferring a significant proportion of the amount of credit to the final payment at the end of the agreement. Agree an initial deposit, how many miles you are likely to travel each year and how long you want the agreement to run for and the dealer will then calculate the Guaranteed Future Value (GFV) of your vehicle and confirm your monthly payment. The dealer will submit the finance application to us and subject to your application being approved; you can just drive your car away.

Then at the end of the agreement you have 3 options:

  1. Part exchange the vehicle subject to settlement of your existing nance agreement; new nance agreements are subject to status.
  2. Return the vehicle and not pay the Final Lump Sum Payment. If the vehicle is in good condition and has not exceeded the agreed maximum mileage you will have nothing further to pay. If the vehicle has exceeded the agreed maximum mileage a charge for excess mileage will apply. For more information on what is considered good condition please see our Good Condition Guide.
  3. Pay the Final Lump Sum Payment to own the vehicle.

And you have 2 to 4 years to decide which option to choose.

How it works

  • Choose your new car with your Black Horse dealer. Used cars up to seven years old can also qualify
  • Set your maximum annual mileage—up to 24,000 miles a year
  • Choose to repay over two or four years
  • Negotiate your deposit with the dealer
  • Borrow any amount from £1,000
  • Set payments to suit your budget
  • At the end of the agreement you have three options to choose from

What you pay

  • You pay a flexible deposit on the car, from 0%. (0% deposit may be available subject to status)
  • Your dealer obtains the Guaranteed Future Value of the car from Black Horse*
  • You pay equal monthly payments over the chosen period.
  • At the end of the agreement, you have three nal options.

Three final options.

  1. Part exchange the vehicle subject to settlement of your existing nance agreement; new nance agreements are subject to status.
  2. Return the vehicle and not pay the Final Lump Sum Payment. If the vehicle is in good condition and has not exceeded the agreed maximum mileage you will have nothing further to pay. If the vehicle has exceeded the agreed maximum mileage a charge for excess mileage will apply. For more information on what is considered good condition please see Good Condition Guide.
  3. Pay the Final Lump Sum Payment to own the vehicle.

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

  • Flexibility - Set payment periods from two to four years, then take the best option for you when you reach the end of the agreement
  • Protection under the Consumer Credit Act Termination and Satisfactory Quality Rights
  • Protection against depreciation as a result of an unexpected fall in the value of the vehicle when you exercise the ‘Goods Return’ option (when you hand the vehicle 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 vehicle is at risk of repossession if you do not maintain contractual repayments
  • You do not own the vehicle until the nal payment including interest has been made
  • A signi cant proportion of the credit is deferred until the end of the agreement you should prepare for this if you want to own the car
  • Lower payments means you might be able to afford a newer car
  • Newer model means lower maintenance costs

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.

How can I find out more?

Ask your Black Horse dealer for a quote.

Borrow any amount from £1,000

Available on New or Used Cars (Used up to 7 years old at the end of the agreement)

Flexible Deposit Options – 0% deposit may be available subject to status

Set repayments to suit your budget

Set your annual mileage up to 24,000 miles a year. Your annual mileage will affect your monthly repayments and Guaranteed Future Value.

2 - 4 year terms

Personal Contract Purchase is available to Limited Companies on a non regulated basis

For used vehicles the maximum permitted vehicle mileage at the start of the agreement is 3,000 miles per month of age

Guaranteed Future Value When the vehicle is returned to us under the Goods Return option



What will you pay?

*If the vehicle is in good condition and has not exceeded the agreed maximum mileage you will have nothing further to pay. Further information on what is considered good condition can be found at blackhorse.co.uk/goodconditionguide. If the vehicle has exceeded the agreed maximum mileage a charge for excess mileage will apply. **Subject to settlement of your existing nance agreement, new nance agreements are subject to status.



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*Finance is subject to status and is only available to UK residents aged 18 and over. Finance provided by Black Horse Limited, St William House, Tresillian Terrace, Cardiff CF10 5BH. Please contact your local Black Horse dealer for further details.