If you're in the market for a new or used MG, Fiat, or Abarth car, it's important to consider your financing options carefully. Here at Richard Hardie, we know all there is to know about Hire Purchase (HP) and Personal Contract Purchase (PCP) to help you get behind the wheel of your dream car.
With HP, you'll make fixed monthly payments over a set period of time until you've paid off the full cost of the car, after which you'll own it outright. While HP typically has higher monthly payments than PCP, it may be the better option if you want to own your car outright and don't plan on changing it frequently.
On the other hand, PCP allows you to pay lower monthly payments over a set term and gives you the flexibility to choose what to do at the end of the term. You can either make a final balloon payment to own the car outright, hand the car back and walk away, or trade the car in for a new one. PCP may be the better choice for those who like to upgrade to a new car every few years without having to worry about selling their old one.
Ultimately, the decision between HP and PCP comes down to your personal circumstances and preferences. The team at Richard Hardie can help you weigh your options and choose the financing plan that's right for you. So why not take a test drive today and speak to one of our knowledgeable staff members about your financing options for your new MG, Fiat, or Abarth car?