Best PCP car deals: May 2024
PCP finance can be a great value way of driving your dream car sooner than you think. Here are some of the best deals available
Looking for the best car finance deal for your budget? Using PCP finance means that rather than saving thousands of pounds to buy a new car outright, you pay a far smaller deposit, followed by a series of affordable monthly payments.
At the end of the agreement, simply hand the car back, pay the difference to own the car outright, or take out a new PCP agreement.
PCP finance is available on new and used cars, making it difficult to know which is the best deal to opt for, especially once you factor in narrowing down which car best meets your needs. We've done the hard work for you here and put together this list of great new and used cars that all offer excellent value for money with no shortage of quality for all sorts of different drivers.
Our best PCP deals list includes cars that are desirable as a second-hand purchase. This is key to unlocking a great PCP finance contract as the more the car is worth at the end of your deal, the lower your monthly payments will be.
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Deposit contributions from £750 to £1,250 are available on the Alfa Romeo Tonale SUV, Alfa Romeo Giulia and Alfa Romeo Stelvio SUVs. Find out more on these deals
Audi
The Audi Q4 e-tron has a £5,750 deposit contribution, the Audi Q8 e-tron has a £7,750 deposit contribution, and the Audi e-tron GT has £14,000 towards your deposit. The Audi A3 Sportback has £3,250-£4,250 off, the Audi Q2 has £3,750 off, and the Audi Q5 TFSIe has a £7,500 contribution. Find out more on these deals
BMW
The new BMW iX2 xDrive 30 M Sport is £649 a month, and the BMW 118i M Sport and BMW 218i M Sport Gran Coupe are £359 a month. Find out more on these deals
Citroen
All of Citroen's range can be had on PCP. The Citroen C3 starts from £195 per month, the Citroen C4 from £350, and the Citroen C5 Aircross from £448. Find out more on these deals
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Cupra has 0% APR PCP available on the Cupra Born EV, £1,500-£5,000 towards deposits on Cupra Formentor and Cupra Leon hatchback and estates, and £1,500-£3,000 on the Cupra Ateca. Find out more on these deals
Dacia
Dacia has deposit contributions of £400 to £750 on the Dacia Sandero, Dacia Sandero Stepway and Dacia Duster ranges. Find out more on these deals
DS Automobiles
DS has PCP deposit contributions of £2,750 on the DS3, £1,750 on the DS4, £4,500 on the DS7 SUV and £1,000 on the DS9. Find out more on these deals
Fiat
The Fiat 500, Fiat 500X and Fiat Panda get PCP deposit contributions of £2,500, £3,000 and £750 respectively, while the Fiat 500e and new Fiat 600e get deposit contributions and a £3,000 e-GRANT. Find out more on these deals
Ford
Ford Options PCP has the Ford Puma from £340 a month, Ford Focus from £350, facelifted Ford Kuga from £385. All Ford Explorer models are 0% APR and start at £380, and the Ford Mustang Mach-E starts at £395. Find out more on these deals
Honda
The Honda CR-V has £2,000 towards your deposit, the Honda ZR-V, Honda HR-V and Honda Civic get £2,500 deposit contributions. The electric Honda e:Ny1 has £3,000 towards your deposit. Find out more on these deals
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Hyundai has deposit contributions of £500 on the Hyundai i30, £750-£1,500 on the Hyundai Kona, £1,250 on the Hyundai i20, £1,500 on the Hyundai Bayon and £1,000 on the Hyundai Santa Fe. There's £2,500 off the Hyundai Ioniq 5 and Hyundai Ioniq 6 EVs. Find out more on these deals
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Jaguar F-Pace SUVs have £5,000 towards the deposit, while the Jaguar E-Pace has a £2,200 contribution. The Jaguar I-Pace EV has a £3,000 deposit contribution and there's £5,500 towards a Jaguar F-Type on PCP. Find out more on these deals
Jeep
PCP deposit contributions on the Jeep Renegade (£1,500-£3,500), Jeep Avenger (£1,000-£5,500), Jeep Compass (£2,750-£4,750), Jeep Wrangler (£2,500) and Jeep Grand Cherokee (£2,750-£3,500) are available. Find out more on these deals
Kia
Kia is offering zero deposit on the Kia EV6, Kia EV9, Kia Sportage, Kia Stonic, Kia Picanto and Kia Niro EV. The Niro EV and Picanto get £1,000 deposit contributions, the Stonic £1,250, the Sportage £1,500 and the EV6 £2,000. Find out more on these deals
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Get a £2,000 deposit contribution on a Land Rover Discovery Sport, Land Rover Discovery or Land Rover Defender 110 when you finance with PCP. Find out more on these deals
Lexus
Deposit contributions for cars on PCP include £500 on the new Lexus LBX, £1,000 for some Lexus NX models, £1,000-£4,000 on the Lexus RX, £4,500 on the electric Lexus UX and £4,500-£6,000 on the Lexus RZ. Find out more on these deals
Mazda
The Mazda CX-30 gets a £1,500 deposit contribution, the Mazda2 Hybrid gets £2,250, the Mazda CX-60 SUV gets £5,000 and the Mazda MX-30 EV gets £6,000 towards your deposit. Find out more on these deals
Mercedes-Benz
Mercedes PCP discounts include the Mercedes A-Class hatchback and Mercedes CLA (£3,500), the Mercedes GLA and Mercedes C-Class saloon (£2,000) and the Mercedes GLB (£1,000). There's £3,000-£9,500 off the EQ electric vehicle range, too. Find out more on these deals
MG
The MG4 EV starts at £99 per month, the new MG3 hybrid gets £250-£750 deposit contribution, while the outgoing MG3 gets £1,000-£1,750. Deposit contributions of £500-£2,000 are available on other MG models. Find out more on these deals
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All MINI models are available on PCP, some with deposit contributions - the new MINI Cooper (£500), new MINI Cooper Electric (£750) and MINI Convertible (£500). Find out more on these deals
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The Nissan Ariya is available with £500-£1,500 deposit contributions on PCP and the Nissan Leaf with 0% APR and £2,500 towards your deposit. The Nissan Juke has £1,750-£2,000 towards deposits, the Nissan Qashqai £1,250-£1,750 and the Nissan X-Trail £1,250. Find out more on these deals
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The electric Peugeot e-208 and Peugeot e-2008 get 0% APR, no deposit and £4,500+ discounts on PCP if you buy online. The Peugeot e-308 gets 0% APR, no deposit and £3,500 off. PCP deposit contributions are available across the rest of the Peugeot range. Find out more on these deals
Range Rover
Get a £2,000 deposit contribution towards a Range Rover Evoque, £3,000 towards a Range Rover Velar or £5,000 off a Range Rover Sport on PCP. Find out more on these deals
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The Renault Scenic, Renault Clio E-Tech, Renault Megane E-Tech, Renault Arkana and Renault Austral get deposit contributions from £1,000-£2,750 on 48 month PCP at 6.9% APR. These models are also available with 0% APR on 24 month PCP agreements. Find out more on these deals
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The SEAT Ibiza, SEAT Ateca, SEAT Tarraco, SEAT Arona and SEAT Leon all get £1,000-£4,000 deposit contributions on PCP. Find out more on these deals
Skoda
Deposit contributions are available on the Skoda Kodiaq (£500), the Skoda Fabia (£1,250), the Skoda Kamiq (£1750), the Skoda Octavia (£2,000) and the Skoda Karoq and Skoda Superb (£2,250). Find out more on these deals
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Subaru is currently has deposit contributions on the Subaru Solterra EV and Subaru Outback (£1,500), and Subaru Forester e-Boxer and Subaru Crosstrek (£2,000) when financed with PCP. Find out more on these deals
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 £3,000 and £2,000 towards your deposit respectively. Find out more on these deals
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The Toyota bZ4X electric SUV is available with 0% APR and a £2,000 deposit contribution on PCP. Deposit contributions on other models include the Toyota Yaris hybrid and Toyota Aygo X (£300), and the Toyota Prius Plug-In and Toyota Corolla (£500). Find out more on these deals
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Vauxhall has big deposit contributions on PCP, including the Vauxhall Corsa (£2,300-£5,900), Vauxhall Mokka (£3,650-£8,000), Vauxhall Astra and Vauxhall Grandland (£3,000-£4,000) and Vauxhall Crossland (£3,300). Find out more on these deals
Volkswagen
VW has deposit contributions on the New VW Tiguan (£750), VW Polo and VW Taigo (£1,250), VW T-Cross and VW Golf (£1,500), VW T-Roc (£2,000) and VW Touareg (£8,000). The electric VW ID.3 (£500), VW ID.4 (£1,650) and VW ID.5 (£1,850) also include 0% APR over 36 months. Find out more on these deals
Volvo
Volvo has deposit contributions available on almost all models, including the new Volvo EX30 (£1,000), up to £4,000 off a Volvo XC40 and up to £6,000 off a Volvo XC60 and £9,000 off a Volvo XC90. There's also up to £8,000 off a Volvo XC40 or C40 Recharge. Find out more on these deals
Volkswagen ID.3
The deal Volkswagen ID.3 58kWh Pro Match for £420 a month on 3 year PCP with 0% 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 choice of either 0% APR and a £500 deposit contribution, or a £3,650 deposit contribution and 5.9% APR when bought with PCP.
Volkswagen ID.3 58kWh Pro Match
Deposit: £5,484.10
Monthly Payments: 35 x £420.46 (£14,716.10)
Optional Final Payment: £15,859.80
Total Payable: £36,560
Mileage Per Year: 10,000
Deal Available Until: 1st July 2024
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Read our latest VW ID.3 review here
Ford Puma
The deal Ford Puma ST Line X 1.0 EcoBoost 125PS for £390 a month on 2 year PCP at 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.
Ford Puma ST Line X 1.0 EcoBoost 125PS
Deposit: £4,549
Monthly Payments: 24 x £390 (£9,360)
Optional Final Payment: £14,016
Total Payable: £28,375
Mileage Per Year: 9,000
Deal Available Until: 30th June 2024
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Vauxhall Corsa
The deal Vauxhall Corsa Design 1.2 75PS for £199 a month on 4 year PCP at 8.9% APR with £1,750 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 £1,750 deposit contribution when you buy with PCP.
Vauxhall Corsa Design 1.2 75PS
Deposit: £4,908.75
Monthly Payments: 47 x £191.99 (£9,023.53)
Optional Final Payment: £7,499
Total Payable: £23,181.28
Mileage Per Year: 6,000
Deal Available Until: 1st July 2024
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Read our latest Vauxhall Corsa review here
Vauxhall Corsa Electric review
Used Vauxhall Corsa review
Skoda Kamiq
The deal Skoda Kamiq from £222 a month on 4 year PCP at 5.9% APR with £1,750 deposit contribution
The Skoda Kamiq has just been treated to a mid-life refresh, including revisions to the styling for a more rugged appearance. There's also extra standard equipment, enhanced safety assist tech and LED matrix headlights as an option for the first time. Skoda's popular family SUV now has £1,750 deposit contributions across the range.
Skoda Kamiq SE 1.0 TSI 95PS
Deposit: £4,327.20
Monthly Payments: 47 x £222.29 (£10,447.63)
Optional Final Payment: £10,811.70
Total Payable: £27,346.53
Mileage Per Year: 10,000
Deal Available Until: 1st July 2024
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Read our latest Skoda Kamiq review here
Honda Civic
The deal Civic e:HEV Full Hybrid Elegance from £379 a month on 3 year PCP at 6.9% APR, with £3,500 towards your deposit
Opting for a more traditional Honda Civic hatchback rather than a trendier SUV means you get quite a deal. For a start, the latest Civic is a great all-rounder - it's spacious, well equipped and cheap to run. But even better is that Honda is currently giving £2,500 deposit contributions for PCP buyers, plus five years' servicing.
Honda Civic e:HEV Full Hybrid Elegance
Deposit: £5,526.47
Monthly Payments: 36 x £379 (£13,644)
Optional Final Payment: £17,983.72
Total Payable: £39,664.08
Mileage Per Year: 10,000
Deal Available Until: 30th June 2024
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Is buying a car on PCP a good idea?
There are advantages and disadvantages of financing your new or used car using a PCP agreement. On the plus side, PCP gives you significant flexibility by allowing you to choose the length of the agreement, usually from 2 to 5 years. The deposit and mileage allowance can be adjusted to suit your needs and budget, too.
Even if you cancel the agreement, you don't have to worry about the car's depreciation, as that's only your concern if you opt to buy the car at the end of your deal.
Come the end of the agreement, you can give the car back, sign up for a new deal, or pay off the outstanding balance and buy the car. You only have to decide which of these to opt for when you're nearing the end of your agreement. That balloon payment can be refinanced too. It's this flexibility that makes PCP the most popular way of buying a car in the UK right now.
The negatives mean that you're liable for any damage beyond fair wear and tear, exceeding any mileage allowance. It will cost you to end your PCP deal early. You'll also be charged a higher interest rate if your credit score isn't good.
As with any major purchase, it's up to you to balance the positive and negatives. Only you can decide if a particular way of financing the deal is right for you.
What are the negatives of PCP?
PCP is the most common type of financing used to get behind the wheel of a new car in the UK. It's affordable, flexible and very widely available. However, it does come with some downsides.
When you take out a PCP agreement, the contract will include a definition of what fair wear and tear to the car means. Anything beyond this is up to you to pay to fix come the end of your contract. Likewise, you'll agree a certain limit on mileage and a fee per mile to pay for exceeding that limit. These are usually agreed as an annual mileage, but generally only charged at the end of your contract.
Also in your contract will be the cost for ending your agreement early. This is usually possible, however, a number of conditions often need to be met, including that you've paid at least 50% of the finance contract, meaning that getting out of your PCP early can be a very expensive option.
PCP finance is available to a wide range of people, including those with less good credit scores. However, if you're in this position, it's likely that you'll be charged a higher interest rate.
For some people, owning the car outright is important. However, you won't actually own the car you're financing with PCP unless you pay the outstanding balloon payment when your agreement finishes. Until this point, it remains the property of the finance company.
Is PCP cheaper than leasing?
The answer to this question will depend on your specific deal and it's always important to compare like for like before making a decision to sign on the dotted line. As a general rule, a PCP costs more over the equivalent length of lease deal because you're paying for the flexibility of being able to buy the car at the end of the deal.
It's worth establishing whether you're likely to treat your PCP like a PCH leasing deal, and switch to a new car rather than paying to take ownership. If this is the case, a lease generally works out cheaper, especially if you don't drive many miles, as the PCP agreement works like a loan that you have to pay interest on, which you don't with a PCH.
It's also worth looking at financing a used car on PCP versus taking out a lease on a new car, as the former is often the cheaper bet. As ever, it's important to compare your options side by side before going ahead.
What is the average monthly car payment?
As ever, the answer to this question depends on lots of factors, including the type of car you're financing, how many miles you're planning to drive, the length of the finance agreement and the interest charged. However, towards the end of 2023, the average cost across all PCP deals in the UK was around £430 per month.
The UK's top-selling car in 2023 was the Ford Puma and this is currently offered in entry level Titanium spec on PCP for £340 per month over three years with 1.9% APR and a 9,000 miles per year limit, or in higher ST-Line X spec for £390 a month over two years with 0% APR.