Best PCP car deals - February 2024

PCP is the most popular way to buy a new car thanks to affordable monthly payments and great incentives if you know where and when to look. We round up the best PCP deals around.

If you’re in the market for a new car deal, then PCP is likely to become very familiar to you. That’s because between 80% and 90% of new cars hitting UK roads are bought using some form of Personal Contract Purchase, or PCP for short.

PCP is really simple. You pay a deposit that's affordable, then agree on monthly payments that won’t overstretch your finances, then have the option to buy your car, trade it in for a new PCP deal on a new car, or hand it back once your deal reaches its end.

As with all things, not all car PCP deals are created equal, with some tantalisingly low monthly payments calculated on unrealistically low annual mileage allowances to lure you in. Or other PCP deals having very high interest rates, which can be bumped up if you have a lower credit rating.

However, the popularity of PCP deals means car dealers and car makers often sweeten their deals with things like free services, 0% interest rates and significant deposit contributions, especially if you buy from a franchised dealer and use that firm’s financial services for the loan. If you’re flexible in your approach, then great deals await.

Keeping on top of the latest, greatest PCP deals can be exhausting work, which is where we come in. Here we round up the best PCP car deals in the UK available to new car buyers right now. We search far and wide to hopefully find the right car PCP deals that works for you.

After more deals on new cars? Check out our round-up of all the best new car deals around. 

PCP Deals - A-Z by Car Maker

Here's a list of the PCP deals being offered by carmakers right now. If a deal pops up, we'll feature it here.

Alfa Romeo

  • Deposit contributions from £500 to £1250 are available on the Alfa Romeo Tonale SUV, Alfa Romeo Giulia and Alfa Romeo Stelvio SUVs

Audi

  • Audi has deals on its EVs on PCP, including the Audi Q4 e-tron with a £5,250 deposit contribution
  • The Audi Q8 e-tron has a £7750 deposit contribution, and the Audi e-tron GT has £8500 towards your deposit

BMW

  • The new BMW i5 eDrive 40 M Sport is £699 per month with a £2000 deposit contribution
  • BMW iX3 M Sport is available at £559 per month, with a £2570.20 discount and £4000 deposit contribution

Citroen

  • All of Citroen's range can be had on PCP. The Citroen C3 starts from £179 per month, the Citroen C4 from £339, and the Citroen C5 Aircross from £389 

Cupra

  • Cupra has 0% APR PCP available on the Cupra Born EV, Cupra Formentor and Cupra Ateca SUVs and Cupra Leon hatchback and estates

Dacia

  • Dacia has deposit contributions of £250 to £750 across the Dacia Sandero, Dacia Sandero Stepway, Dacia Jogger and Dacia Duster ranges

DS Automobiles

  • DS has PCP deposit contributions of £2000 on the DS3 small SUV, £2250 on the DS4 and £4500 on the DS7 SUV

Fiat

  • The Fiat 500, Fiat 500X and Fiat Panda get PCP deposit contributions of £2525, £2000 and £750 respectively, while the Fiat 500e and new Fiat 600e get a £3000 e-GRANT

Ford

  • Ford Options PCP has the Ford Fiesta ST-Line for £295 per month, a Ford Focus ST-Line or Ford Puma Titanium for £340, a Ford Kuga ST-Line for £365 a month and a Ford Mustang Mach-E Select for £395

Honda

  • The Honda HR-V has £2000 towards your deposit, the Honda CR-V and Civic get £4000 deposit contributions, and the ZR-V £5000
  • The electric Honda e:Ny1 has £8000 towards your deposit

Hyundai

  • Hyundai has deposit contribution offers including £500 on the Hyundai i30 and £750 on the Hyundai Kona, £1000 on the Hyundai i20, Bayon, Kona Electric and Santa Fe, £1750 on the Hyundai Tucson and £2000 on the Tucson PHEV

Jaguar

  • Jaguar F-Pace SUVs have £4000 towards the deposit, while the Jaguar E-Pace has a £1500 contribution. The Jaguar I-Pace EV has a £3000 deposit contribution and there's £5500 towards a Jaguar F-Type on PCP

Jeep

  • PCP deposit contributions on the Jeep Renegade (£1000), Jeep Avenger (£1250), Jeep Wrangler (£2500) and Jeep Grand Cherokee (£2750) are available

Kia

  • Kia is offering zero deposit and two years' servicing on the Kia EV6, Kia EV9, Kia Sportage, Kia Stonic and Kia Picanto. The EV6 and Picanto get £1000 deposit contributions, and the Sportage and Stonic get £1500 towards your deposit

Land Rover

  • Get a £2000 deposit contribution on a Land Rover Discovery Sport, Land Rover Discovery or Land Rover Defender 110 when you finance with PCP

Lexus

  • Deposit contributions for cars on PCP include £500 on the new Lexus LBX, £1000 for some Lexus NX models, £2000-£4000 on the Lexus RX and £4500 on the electric Lexus RZ and Lexus UX

Mazda

  • Mazda 2 hybrid, Mazda 3 hatchback and Mazda CX-30 and Mazda MX-30 R-EV get £1500 deposit contributions, the Mazda CX-5 gets £500 off and the Mazda CX-60 SUV includes £2000 towards your deposit

Mercedes-Benz

  • PCP discounts include the Mercedes GLA (£2000), the Mercedes EQB and Mercedes EQS (£3000), the Mercedes A-Class hatchback, Mercedes CLA and Mercedes C-Class Estate (£3500). The Mercedes EQE Saloon has £4000 off and the Mercedes GLE has a £5500 discount

MG

  • The MG4 (X Power not included) and MG ZS models can all be financed with 0% APR PCP, with a 20% minimum deposit for EVs and 30% for the petrol ZS
  • Deposit contributions of £250-£1500 are available on other MG models

MINI

  • All models are available on PCP, although offers are limited to one year free insurance. The MINI Convertible Electric is currently 2.9% APR

Nissan

  • Nissan Ariya available with £500-£1000 deposit contribution on PCP and Nissan Leaf with 0% APR and £250 towards your deposit
  • The Nissan Juke has £1000-£1250 towards deposits, the Nissan Qashqai £1500 and the X-Trail £500

Peugeot

  • The electric Peugeot e-208 and Peugeot e-2008 get 0% APR, no deposit and £5000 discounts on PCP if you buy online
  • The Peugeot e-308 gets 0% APR, no deposit and £2500 off
  • PCP deposit contributions of £1250-£4250 are available across the rest of the Peugeot range

Range Rover

  • Get a £2000 deposit contribution towards a Range Rover Velar or Range Rover Evoque, while the Range Rover Sport currently attracts a £5000 discount

Renault

  • All Renault models get deposit contributions from £500-£3000 on 48 month PCP at 7.9% APR
  • The Renault Clio E-Tech, Renault Captur, Renault Arkana and Renault Austral are available with 0% APR on 24 month PCP agreements

SEAT

  • SEAT has 0% APR deals across the range. The SEAT Ibiza, SEAT Ateca, SEAT Tarraco, SEAT Arona and SEAT Leon are all 0% over three years on Solutions PCP

Skoda

  • Deposit contributions are available on the Skoda Superb and Skoda Kodiaq (£3500) and the Skoda Octavia and Skoda Karoq (£3250)
  • Pre-facelift Skoda Scala and Skoda Kamiq models have a £1000 deposit contribution, while the facelifted versions get £2250 off. The Skoda Fabia gets £2250 off, too
  • The Skoda Enyaq 60 EV is available with 0% APR and a £2500 deposit contribution and the Enyaq 85 includes a £1800 contribution

Subaru

  • Subaru is currently has £1500 deposit contributions on the Subaru Solterra EV, Subaru Forester e-Boxer and Subaru Outback, plus £2000 on the Subaru Crosstrek when financed with PCP

Suzuki

  • The Suzuki S-Cross is available with 0% APR on a 24 month PCP with a minimum 20% deposit
  • The Suzuki Vitara and Suzuki Swace are currently being offered with £3000 and £2000 towards your deposit respectively

Toyota

  • Toyota bZ4X electric SUV is available with 0% APR and a £2000 deposit contribution on PCP
  • Deposit contributions on other models include the Toyota Yaris hybrid (£1000), Toyota Yaris Cross (£600), the Toyota Aygo X (£900) and the Toyota Corolla and Toyota Hilux (£1500)

Vauxhall

  • Vauxhall has significant deposit contributions for PCP deals right now, from at least £2300 on the Vauxhall Corsa to £8000 on the Vauxhall Mokka EV

Volkswagen

  • VW has deposit contributions on the VW Tiguan, VW ID.3, VW ID.4 and VW ID.5 (£1250), VW T-Cross (£1500), and the VW Taigo, VW Polo and VW Golf (£2500)
  • The VW ID.7 (£3250), the VW T-Roc (£3500) and VW Passat Estate and VW Arteon (£4000), and VW Touareg (£8000) round out the discounts

Volvo

  • Volvo has deposit contributions available on almost all models, including the new Volvo EX30 (£750), up to £5000 off a Volvo XC40 and up to £7000 off a Volvo XC60 and Volvo XC90
  • There's also up to £5000 off a Volvo S60 and £7000 off a Volvo S90 or Volvo V90 estate

PCP car deals

Our round-up of the best car PCP deals highlights the deals we think are the best balance between a low deposit and affordable monthly payments. We update this page every week to make sure we bring you the best deals.

Volkswagen ID.3 58kWh Pro Match

£408 a month: 4 year PCP with £2000 deposit contribution @ 4.9% APR

The VW ID.3 is a great introduction to electric cars, and will fit into your life as easily as if it were a Golf. After taking plenty of user feedback into consideration with the original ID.3, a New ID.3 has been launched with improved infotainment, tidier looks and a £2000 deposit contribution when financed with PCP.

>> Find this deal here

Deposit Monthly Payments Optional Final Payment Total Payable Mileage Per Year Deal Available Until
£5484 47 x £407.76 (£19,164.72) £14,047.20 £40,705.92 10,000 2nd April 2024

 

Ford Puma ST Line X 1.0 EcoBoost 125PS

£390 a month: 2 year PCP @ 0% APR

The Ford Puma is one of the UK's most popular cars, and with good reason. It's good to drive, well equipped especially in the mid-range ST Line X trim level on offer here, and it's affordable to buy and run. This two-year PCP deal is available through Ford Options and has 0% APR.

>> Find this deal here

Deposit Monthly Payments Optional Final Payment Total Payable Mileage Per Year Deal Available Until
£4001 24 x £390 (£9360) £15,004 £28,365 9000 31st March 2024

 

Vauxhall Corsa Design 1.2 75PS

£199 a month: 48 month PCP @ 7.9% APR + £2300 Deposit Contribution

The Vauxhall Corsa has just been treated to a mid-life refresh, including an updated look inside and out. The entry-level Corsa Design is very well equipped, with Apple CarPlay and Android Auto compatible infotainment, climate control plus a useful £2300 deposit contribution when you buy with PCP.

>> Find this deal here

Deposit Monthly Payments Optional Final Payment Total Payable Mileage Per Year Deal Available Until
£3096.57 47 x £199 (£9353) £8019 £22,768.57 6000 8th April 2024

 

Skoda Kamiq (all)

From £260 a month: 3 year PCP @ 5.9% APR + £1250 deposit contribution

Skoda Kamiq

The Skoda Kamiq has just been treated to a mid-life refresh, and as a result the popular family SUV now has £1250 deposit contributions across the range. If you don't require the latest Kamiq in your drive, Skoda is offering older models from stock with 0% APR on PCP.

>> Find this deal here

Deposit Monthly Payments Optional Final Payment Total Payable Mileage Per Year Deal Available Until
£4325.40 35 x £260.40 (£9114) £11,950.20 £26,649.60 10,000 2nd April 2024

 

Cupra Formentor V1

£305 a month: 3 year PCP @ 0% APR

Cupra Formentor

The Cupra Formentor SUV was the Cupra brand's first stand-alone model following its spinoff from SEAT. It's good to drive, and good value as all models right across the Cupra range are currently offered with 0% APR and service plans that start from £99.

>> Find this deal here

Deposit Monthly Payments Optional Final Payment Total Payable Mileage Per Year Deal Available Until
£6523.00 35 x £305.00 (£10,675.00) £15,462.00 £32,660.00 10,000 2nd April 2024

 

How does a PCP work?

Rather than paying cash for a new car all in one go, a PCP agreement allows you to pay an initial deposit towards the cost of the car, either with cash or a part exchange, or combination of both.

You then take out a loan to be paid back over a set number of monthly payments - usually over two to five years. This breaks the repayment of the loan down into much more manageable chunks, and is effectively you covering the cost of the car’s depreciation.

At the end of the agreement, you have the option to give the car back and walk away or part-exchange the car and start a fresh PCP agreement on a new car. The major appeal of a PCP over a lease deal is that it also offers you the flexibility of paying the outstanding amount, which is often called a balloon payment, at the end of the deal to own the car outright.

How can I make the monthly cost as low as possible?

The first golden rule is to make sure you don’t get sucked in by a deposit and monthly payments that you can only just afford. Think about what might happen if your circumstances change and the impact that this could have on your ability to keep up with your monthly payments.

Nicer cars can mean bigger bills for things like insurance and other running costs, too. If you can afford a larger deposit, this can trim the monthly payment, as can opting for a longer time period for making repayments. PCP is effectively financing the car’s depreciation, so choose a car that will hold its value well.

How is the final payment to own the car calculated?

The final payment is often called the balloon payment, and has to be paid off in order to have ownership of the car transferred from the finance company to you.

It’s calculated based on the make and model of car, which impacts how much it will depreciate in the time you’re paying off the loan, and also considers the length of the finance agreement, and how many miles you’re likely to drive.

It’s agreed when you make the PCP deal, so make sure you understand the figures before signing on the dotted line, and budget accordingly if you plan to buy the car so that you don't miss out if you can't afford the balloon payment.

Who owns a car bought with PCP?

For the duration of the PCP, the car is owned by the finance company that you sign the deal with. So while you've paid your deposit and are paying monthly payments, the car still belongs to the finance company.

At the end of the agreement, the car’s ownership can be transferred to you only if you settle up and pay the final balloon payment to keep the car. You don't have any ownership rights until this point.

Often, PCP deals are offered by the financial services companies of major carmakers. For example, if you buy a new Ford Puma on PCP, you’ll be signing an agreement with Ford Credit, so Ford Credit would own the car for the duration of the PCP deal. Pay the balloon payment and it’s yours.