Personal Contract Purchase (PCP) FAQs – End of your agreement

When you’re nearing the end of your agreement you’ll need to decide if you want to keep the vehicle or not. You can read about each option on our Personal Contract Purchase (PCP) – End of your agreement page.

We can talk you through each option so you can decide what’s right for you. Just give us a call on 0800 917 0931.

There’s no need to rush your decision. However, if you decide to return the vehicle, you need to tell us at least 10 days before the final payment is due.

You may be able to change your option, but it depends on where you are in the process. Once we start arranging things such as the vehicle return, it may not be possible to undo these steps.

If you need to make a change it’s important to call us as soon as possible on 0800 917 0931. We’ll explain what we can do.

You may need to pay a charge when returning the vehicle if:

• You’ve done more miles than agreed at the start of your agreement
• There’s a cost to fix any damage
• Items are missing, such as a spare key or the V5
• A service is overdue

You can find more details on these below. Your credit agreement also contains full details of any charges that may apply. If you’re unsure, just call us and we’ll explain it.

Your mileage limit is set at the start of the agreement and can’t be changed. This is the maximum number of ‘free’ miles you can drive your car during the whole term of your agreement. It’s based on the mileage you thought you’d do each year and was agreed with your car dealer.

This agreed mileage is used to calculate the Guaranteed Future Value (GFV), which forms part of your PCP agreement. The GFV is the amount your vehicle is expected to be worth at the end of your agreement. It is used to calculate your optional final payment.

Mileage only matters if you return the vehicle to us at the end of the agreement. If you drive more miles than agreed, this can reduce the vehicle’s value. This means you may need to pay an excess mileage charge.

If you drive fewer miles than agreed, there’s no refund or adjustment to your agreement, and there will be no mileage charge.

Your agreed mileage and mileage details can be found in your credit agreement. If you’re still unsure, please contact us and we’ll be happy to help.

If your vehicle is due a service, you’ll need to get it done before you return it. If a service is overdue, you may be charged.

You don’t need anything extra — just follow the normal service schedule and keep the service book or digital record as proof.

Missing items may mean there’ll be replacement fees to pay.

Always check you have everything before returning the car.

Returning the car at the end of a PCP agreement doesn’t harm your credit file. It’s your right to do so.

However, if you missed any payments during your agreement, this will show on your credit file.