How to spot the best PCP deals

  • Our guide to finding the right Personal Contract Plan finance package
  • Find out how to secure great value for new and used cars
  • Are 0% offers or low deposits really as appealing as they look?

Deal Watch is the place where we publish the very best PCP deals, leasing and cash offers on new cars each week, expertly curated by our finance expert Chris Lloyd.

But we can’t possibly show everything out there in the industry, and in particular, spotting the best PCP deals isn’t always as straightforward as it could be. Car companies often offer different deals on versions of the same car, which makes it a figurative minefield. For example, a vehicle they’re struggling to shift might be offered with a considerably lower APR than the better or more popular models.

The handover after netting the best PCP deal for you can be a magical moment

However, here at Parkers we’re here to help, and there’s a huge amount of advice out there to impart.

Have a read through the following and you may be surprised with how much case you can save…

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Calculating the best finance deals on new cars

It’s possible to get brilliant value for money by cracking out the calculator and crunching some numbers yourself.

There are often some of the best PCP finance deals available if you do your research and shop around

Find out precisely what your car finance deal will cost you in our step-by-step guide.

Spotting the best finance deals on used cars

There’s an increasing trend nowadays for PCP offers on used cars as well as new. This could work out to be far cheaper in some cases, but be wary that the interest you pay (the APR) is generally far higher than a new car deal, and you’re less likely to secure a deposit contribution against the cost of the car.

It’s more difficult to compare offers for decent value based on the above, so it’ll pay to do your research on Parkers and shop around.  

Furthermore, extra servicing and maintenance will be required, and this could end up being fairly costly.

If you're looking for the best used PCP car finance, it's reasonable to expect they'll clear your car first...

It’ll pay to delve deep into any warranty offered – ensure it includes any consumables that are likely to go wrong.

You can also investigate our tens of thousands of owners’ reviews to find out if there are any prevailing problems with the car you’re considering, or read its full review to see what our experts thought.

And finally, don’t proceed before you’ve carried out a Parkers Car History Check to highlight any hidden history you need to know about.

When you’re haggling for the best PCP deal on a used car, always make sure the car is priced fairly and you’re not being scuppered by high APR charges that make it worse value.

Securing the best 0% finance deals

People often want to find the best 0% APR car finance deals because at a very basic level, it means you’ll pay no interest to the lender over the course of your PCP.

In theory, this is true, but car companies are trying to redress the balance somewhat by offering deposit contributions to deals that do include some APR, meaning the bottom line is you could pay some interest and still come out with the better-value deal when all’s said and done.

PCP car finance car be seriously confusing, so let Parkers help by explaining all the key jargon and finding you the best offers - be it cash, PCP or hire purchase

This confusing technique makes it incredibly difficult for consumers to net the right deal for them. Luckily, our car finance expert Chris Lloyd scours all the manufacturer websites to root out top PCP deals for a set budget.

These articles should be your starting point – the best PCP car deals in 2018:

But the helpful advice doesn’t stop there. You’re able to work out what deal represents the best value by using our insider tips.

Best PCP deals with a low deposit

For many buyers, securing a deal with a low – or even zero – deposit is a crucial part of what makes a PCP arrangement attractive. With higher monthly payments it’s possible to spread the cost of an initial payment over the course of the contract, softening the blow and getting keys in your hand for a very low up-front cost.

You may have to sacrifice some toys if you want a PCP with a very low deposit...

These deals are usually on cars that don’t cost much to start with, and aim to attract younger buyers who don’t necessarily have the capital to buy a car outright or offer several thousand pounds towards a deposit.

More advice on car finance: