What Is Personal Contract Purchase?
Personal Contract Purchase or PCP, is a long-term agreement that may be suitable if you do not want to purchase the motorcycle at the end of the agreement. You will make fixed monthly payments, which are made over the agreed contract length and when the contract ends you have three options. Pay the balloon/final payment, return the Motorcycle to the Finance Company or Pay The Final Payment (Guaranteed Future Value)
What Is Hire Purchase?
Hire Purchase or HP, is usually a shorter term agreement that is more suitable if you look to keep the vehicle for a longer period of time, or rack up higher mileage with unlimited miles per year. You will also make fixed monthly payments, which are made over the agreed contract length and when the contract ends you will own the Motorcycle outright.
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