PCP finance deals: how to read the advertised offer before the monthly figure
A PCP advertisement is built around one number, and that number is the least informative thing in the offer. Four other figures decide what it costs, and three of them are usually in the small print.
- agreements cover almost every financed car in the UK
- 3
- to withdraw from a regulated credit agreement, Consumer Credit Act 1974 s.66A
- 14 days
- of the total price is the voluntary termination ceiling, Consumer Credit Act 1974 s.100
- 50%
Figures in this panel are the statutory rights that attach to a regulated motor finance agreement, quoted from the Consumer Credit Act 1974 itself and linked in the sources below. KnownVehicle is not authorised for credit broking and introduces no lender: nothing on these pages is a quote, an application or a recommendation.
- 2 vendor product pages verifiedevery figure matched verbatim to the vendor's page
- Quoted and dated, never estimatedlast verification pass 2026-08-26
- 2 check types coveredeach with measured search demand behind it
Reading new car PCP deals, in the order that matters
- Find the total amount payable first. A regulated credit promotion showing a monthly figure has to show the representative APR, the total amount payable and the final payment alongside it. Those are the comparable numbers; the monthly payment is a function of choices the advertiser made about term, deposit and future value.
- Zero percent is paid for somewhere. A nought percent offer is usually funded by a smaller discount off the car, a shorter term, or a required deposit. It can genuinely be the cheapest route, and the way to know is to price the same car with a discount and independent finance, then compare the two totals.
- A deposit contribution is conditional. Manufacturer money towards the deposit reduces the amount financed, which is real. It is normally conditional on taking their finance and on a minimum term, and it is often withdrawn if you settle early. Read what it is tied to before treating it as a discount.
- Mileage is the figure that bites later. The advertised payment assumes an annual mileage, often a low one. Exceeding it is charged per mile at the end, and on a three year agreement a five thousand mile a year underestimate becomes a bill nobody budgeted for. Set the mileage honestly at the start.
Common questions
- No deposit PCP deals: are they actually a good offer?
- It is a cash-flow choice rather than a cheaper one. Financing the whole price raises both the payment and the total repaid, and it keeps you in negative equity longer, which matters if you want to change early.
- Why do PCP car deals on the same car differ between dealers?
- Usually a different future value, a different term, or a manufacturer support package on that model that month. Ask for amount financed, term, APR and final payment and the difference becomes visible immediately.
- Car on PCP finance: can I negotiate a PCP?
- The car's price is negotiable and feeds straight into the amount financed. The rate and the future value usually are not, because they come from the lender's own scheme rather than from the showroom.
- Car finance PCP deals: what happens at the end of one?
- Three options: pay the final payment and keep the car, hand it back having met the mileage and condition terms, or part-exchange any equity above the final payment into the next agreement.
- Are 0% car finance deals really free?
- The interest is, but the offer is usually paid for somewhere else: a smaller discount off the car, a shorter term or a required deposit. It can genuinely be the cheapest route, and the way to know is to price the same car with a discount and independent finance, then compare the two totals.
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Sources
Cite or embed this figure
The median advertised price of a single full car check in the GB car check market was £14.99 in August 2026, across 2 verified vendor product pages recorded in KnownVehicle Car Check Price Index.
Cite as: "KnownVehicle Car Check Price Index", updated 2026-08-26, https://knownvehicle.com/finance/pcp-finance-deals/.