Car Leasing Thousands of Pounds Cheaper Than PCP Contracts: Expert

September 02 22:36 2020

London, UK – September 2, 2020 – People opting for car leasing over a type of finance known as personal contract purchase (PCP) stand to save substantial amounts of money, according to the head of a British car comparison site.

John Wilmot, whose firm LeaseLoco aims to get people better deals on their car leases, said customers could save more than £7,000 by leasing their cars instead of going for PCP when getting cars. Quoted in an article in the Daily Express newspaper in August, Wilmot said drivers could save “£5,000 on a brand new Ford Focus while over £6,000 can be saved on a top-of-the-range Mercedes A-Class”.

PCP is a type of loan that lets a driver borrow a car, with the option to purchase the car outright at the end of the loan period. In a typical PCP agreement, the driver will pay a deposit and then a monthly amount to cover the costs of borrowing the vehicle. At the end of the finance deal, the driver can choose to pay a balloon payment as well if they decide they’d like to keep the car.

PCP has become one of the most popular kinds of finance agreements in recent times. But according to Wilmot, drivers will almost always find that leasing is cheaper than PCP. With PCP, monthly payments tend to be higher as you get the option to purchase the car outright.

Aaron Sherlock, Sales Manager at leading UK car leasing firm Kardi Leasing, said leasing was the sensible option:

“Drivers who want the best deal really should consider leasing over PCP, especially if they’re not planning to make the balloon payment at the end of the finance agreement,” he said. “As the article in the Daily Express shows, drivers could be paying an extra six or seven thousand pounds if they are lured in by PCP”.

For more information about Kardi Vehicles, please visit

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