A quick and easy way to spread the remaining cost of your PCP
What is PCP?
A Personal Contract Purchase (PCP) is a car finance agreement where part of the cost is deferred for 3 or 4 years.
At the end of the PCP, the customer makes the final payment (sometimes called a balloon payment) which transfers ownership, or hands the car back.
The final payment is typically a large sum in relation to the overall cost of the vehicle.
What is Mallard PCP Plus?
If you would like to keep your car rather than handing it back, Mallard PCP Plus is a way of financing (and so spreading) the cost of the final payment using a Hire Purchase Agreement.
With Mallard PCP Plus, we make this payment on your behalf and you repay us, together with interest over a set period of time.
Benefits of Mallard PCP Plus
- Pay a fixed amount each month, allowing you to spread the cost of the balloon payment.
- Keep driving the vehicle you already have.
- Own the vehicle outright at the end of the agreement.
- 24, 36, 48 or 60 month term to suit your budget.
- Manual underwriting so all circumstances can be considered.
- High level of personal service from our experienced and dedicated team.
How to Apply
Get in touch with your dealer and say you want to finance your final PCP payment through Mallard Finance. They will send us your details and we will assess your application.
Alternatively you can send us your details:
- By email to: This email address is being protected from spambots. You need JavaScript enabled to view it.
- By phone to: 01206 243100
- By post to: Mallard Finance, Hophouse, Maltings Park, Colchester Road, West Bergholt, Colchester, Essex, CO6 3TJ
By providing your details you agree that Mallard Finance may conduct a credit search with one or more credit reference agencies.
Finance Example
Cost example over 4 years (9.99% APR Representative)
WARNING:
IF YOU DO NOT KEEP UP PAYMENTS OR MISS ANY PAYMENTS IT WILL BE RECORDED ON YOUR CREDIT FILE, THIS MAY MAKE IT DIFFICULT FOR YOU TO GET FINANCE IN THE FUTURE AND WE MAY TAKE THE ACTION TO REPOSSESS THE VEHICLE.
FAQ’s
Q - What happens if I want to pay my finance off early?
A - You can do this at any time and there is no penalty charge, just call us. If you settle early you may be eligible for an interest rebate as well.
Q - I have not yet reached the end of my PCP, can you help me?
A - Probably. We will need to know your settlement figure and we can take it from there. If you switch from a PCP to this product, you will end up owning the car outright at the end of the deal.
Q - I am happy with my monthly payments on my car, why can I not just carry on paying as I am now?
A - If you have a PCP, it will only last for a set period of time before you have either to hand the car back or make the larger final payment. If you would like to spread the cost of the final payment to keep your monthly payment roughly the same, then we should be able to work out a term that will allow you to do that.
Q - If I change my mind and decide to sell the car, will I be able to do that?
A - Yes, you can sell the car but you need to get in touch with us and we will help you through the process. If you don’t get enough for the car to pay off the finance, you will need to make up the difference to us. If the sale price is more than what you owe us, you keep the difference.
Q - Does having the car financed by Mallard mean that I don’t need to pay tax, insurance and servicing costs?
A - No. Unlike some forms of car finance, you will be responsible for keeping the car taxed, insured and serviced.
Q - Will this affect my warranty?
A - No. Changing finance provider won’t generally affect your warranty.
