What are my options at the end of a PCP agreement?

At the end of your personal contract purchase (PCP) agreement with Zopa, you’ll have three options to choose from:

1. Buy the car – If you want to keep the car and become its owner, you’ll need to pay the optional final payment.

2. Return the car to us – If you no longer need a car, simply hand it back to us after you’ve made all your monthly payments. You’ll need to make sure that the car doesn’t have any damage beyond normal wear and tear, and that you’ve stuck to your agreed mileage limit. Otherwise, you’ll likely face additional charges.

3. Part exchange the car for a new one – If you want a fresh set of wheels, you can return the car and start a new PCP agreement with another car. If the car’s worth more than the optional final payment, you’ll have some extra money that you can put towards the deposit on your next car.

What could I be charged at the end of my PCP agreement?

If you’ve gone over the agreed mileage limit, we’ll apply a charge per excess miles. You’ll also need to pay for any damage that falls outside of the British Vehicle Rental and Leasing Association (BVRLA) Fair Wear and Tear guidelines. 

Details on these charges are explained within your agreement contract terms and conditions. 

What happens if I don’t let you know what I want to do at the end of my PCP agreement?

If you don’t let us know which option you’d like to take, we’ll automatically attempt to take the optional final payment 30 days after your last regular repayment. If that payment is unsuccessful, it could be recorded as a missed payment on your credit file.