PCP, Personal Contract Purchase explained | LEVC

PERSONAL CONTRACT PURCHASE (PCP) Explained

Ideal if you like to budget, drive the latest model and keep your options open

How it works

PCP allows you to keep your monthly payment amount low by deferring a significant portion of credit to the end of the agreement.

First, decide upon the taxi for you and agree an initial deposit you'd like to pay.

Estimate how many miles you're likely to travel each year and how long you'd like the agreement to run for. This information is used to calculate the guaranteed future value of the vehicle - which is what the taxi is estimated to be worth at the end of agreement.

This amount is the deferred optional final payment at the end of the term.

The deposit and optional final payment are deducted from the price of the taxi, the remaining balance provides you with low, fixed monthly repayments.

At the end of the term you have three options, either: part exchange your taxi for a new one using the equity built up; pay the deferred final payment to own the taxi; or return the taxi to us with nothing more to pay.

At the London EV Company, we’re dedicated to providing lower ownership costs for cab drivers with our range of financial services. Being a professional driver in today’s market is tougher than ever and it can sometimes be difficult to manage one’s outgoings.

Our Personal Contract Purchase deal is designed to help you manage your finances more effectively. With affordable monthly payments, the London EV Company can offer a new, high-quality model that you will be proud to drive, and one that will provide an excellent service to your community.

What's more, with a finance plan such as this, you are covered for 12 months of RAC services and 12 months of road tax. You are also covered for a 120,000-mile manufacturer-backed vehicle warranty.

Our effective financial service plans provide peace of mind for drivers and ensures that you and your work are protected. For more information on our PCP plan, or any of our other financial services, speak to one of our experts.