![]() Your finance term is the period over which you’ll spread your repayments, which for most people tends to be between 2 and 4 years. Take a look at our PCP, HP and CH pages for more information on each.ĭeciding the length of your plan is dependent upon lots of different factors. They’re not the only plans available, but they are often compared when car buyers are making a decision about finance. Personal Contract Purchase (PCP), Hire Purchase (HP) and Contract Hire (CH) are some of the more popular types of car finance agreement. You’ll need to get some key pieces of information in place before you know which type of agreement will suit you, such as what monthly payment you can afford, how much deposit you can put in up front, how likely it is that your circumstances might change, and whether or not you want the option to own the vehicle at the end of the agreement. If you’re in the market for a new car, you might be starting to research which finance option is best for you. ![]() Contract Hire is available for both Personal and Business use. Simply return it to Audi Financial Services and pay any damage or mileage charges that may apply. At the end of the agreement, you do not own the car. Contract Hire (CH) is a simple leasing agreement with fixed monthly rentals. If you want a newer model, you can use any equity to part-exchange your current model for a new one. At the end of your agreement, simply pay the option to purchase fee and own the car. The amount financed is spread equally across your selected repayment term. Hire Purchase (HP) is a straightforward route to car ownership. ![]() You can buy the car outright (once all outstanding fees and charges are settled), return the vehicle to Audi Financial Services (subject to excess mileage and damage charges), or use any equity in the car to trade it in as a deposit for a newer model. Solutions Personal Contract Plan (PCP) is a flexible plan that gives you multiple options at the end of the agreement.
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