How PCCU can give you the keys to car finance freedom

Trying to get the best car finance deal can sometimes feel like driving without a sat nav. You know where you want to go, but the journey’s stressful, filled with wrong turns, and usually ends up costing more than you bargained for. For most people, buying a new, or used, car is an exciting time. That is until they hit a car finance pothole.

The vast majority of the UK population pays for its cars through Personal Contract Purchase (PCP) deals issued by car dealerships. What this basically means is consumers rent a car over a three or four-year period. At the end of that period, they have three options:

1. Buy the vehicle for its residual value (referred to as a “balloon” payment)
2. Hand the car back
3. Roll over the residual value into a new PCP on a new vehicle

Sounds good. Until you read about the investigations carried out by the Financial Conduct Authority, and how hundreds of thousands of drivers across the UK have been secretly overcharged by car salesmen looking to pocket extra commission; a fact that goes some way to explaining the high interest rates that tend to come with car finance deals.

PCCU puts the loan applicant in the driving seat

PCCU is here to make car loans as simple as possible. No fancy sales speak. No sneaky commission. No pressure.

We take pride in being upfront and honest with our account holders. That’s why you’ll never hear us saying, ‘We guarantee our interest rates will be better than their interest rates’ or ‘We guarantee we’ll beat whatever deal they’re offering’. All we ask is that you consider us when on the hunt for a car finance deal. Because what we do guarantee is highly competitive interest rates, and a promise that the interest rate you see advertised is the one you will receive.

PCCU takes customer service up a gear

A PCCU loan means you can buy your car outright, which means you have the option to do whatever you wish with your new wheels. Upgrade, sell, modify, or keep for as long as you want.

But that’s not the only benefit to setting out on the PCCU journey. Each application is assessed individually by a person and not a computer. We look at affordability, income and expenditure, and only lend amounts we are confident you can afford to pay back.

And the entire process – provided we have all the information we require – will be finished in 0 – 48 (hours). You don’t even have to set foot in one of our showrooms. Everything can be done online, with our friendly and knowledgeable staff right there in the passenger seat ready to help guide the way.