PCP at Humming Bird
At the start of the contract, a ‘balloon payment’ or Guaranteed Future Value (GFV) is agreed, which is paid at the end of the contract. This amount and the deposit you choose to pay are set against the vehicle price and your monthly repayments are based on the balance, plus interest. This means that monthly payments are often lower than those from a traditional finance plan.
At the end of the agreement, you can:
- Return the vehicle to Humming Bird Motors and choose a new vehicle using any excess value over the GFV towards your deposit on your next Humming Bird Mitsubishi or Kia vehicle
- Pay the GFV and take ownership of your vehicle
- Return the vehicle with nothing more to pay (provided that you have made all monthly payments, the vehicle being in good condition and has not exceeded the agreed mileage)
The benefits of Personal Contract Purchase
- Peace of mind from knowing that you have the benefit of a Guaranteed Future Value
- Lump sum ‘Balloon Payment’ can reduce your monthly payments making your chosen vehicle more affordable
- Variable repayment and deposit terms to help you budget your finances
