Car Leasing Blog

GENERAL INFORMATION

PERSONAL CONTRACT PURCHASE (PCP) was designed specifically to be a personal contract for private individuals. By entering into a PCP plan, which is classed as a conditional sale agreement, it offers you protection under the Consumer Credit Act 1974 and the Financial Services Regulations 2004.

Seen as a way to avoid the depreciation trap, a PCP agreement allows you the option to set up a contract term, with monthly payments. At the end of the term, you then have the option to purchase the vehicle, or simply hand it back to the contract provider. The Title of the vehicle does not change until the final ‘baloon’ payment is made.

IMPORTANT INFORMATION

You should receive the log book for your vehicle within six months of the delivery date. It is therefore your responsibility to tax the vehicle when it next becomes due .

 Your car is covered by the usual manufacturers warrantee, and can be taken to any dealer should you have any issues with manufacture of your vehicle.

What Happens if I do not receive my log book? 

You should contact the supplier to request it to be sent on to yourself, if your Road tax is due soon or you have been unable to obtain the log book you should apply to the DVLA for a V62 form. This will allow you to transfer the log book into your own name and enable you to tax your car. There is a charge of around £25 for this but its still cheaper than the fine for driving with no tax! It is also worth taking into account that this can take up to six weeks to complete so make sure you allow pleanty of time before your tax is due to expire.