Hugo_Griffiths@dennis.co.uk
@hugo_griffiths
MORE than nine out of 10 buyers take out some form of finance when buying a new car; 91.3 per cent, to be precise. With 1,052,202 private buyers purchasing a new car last year, that works out at just under a million finance packages issued, as buyers opt to spread the cost of getting behind the wheel of a brand-new car.
Personal Contract Purchase (PCP) has long been the mainstay of new-car finance, with around 80 per cent of finance customers opting for this type of package, and buyers like the flexibility a PCP deal offers. Pay your deposit, make your monthly payments and then, at the end of the agreement, select one of three options: hand the car back with nothing further to pay, use any ‘equity’…
