Best PCP car deals: full list of the best deals for December 2023
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
Best car deals on PCP
- Kia Picanto
- Ford Fiesta
- Renault Megane
- Vauxhall Insignia Grand Sport
- Peugeot 3008
- Citroen C3 Aircross
- Mini Convertible
- BMW 6 Series
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. We’ve also included some less obvious models that might lose value quickly from new, but as a result make fantastic second-hand buys, meaning you're borrowing less money to get behind the wheel of a better car.
What is Personal Contract Purchase (PCP)?
The availability of competitive car finance has completely changed the way most of us buy cars in the UK, with up to 9 in 10 cars bought or leased using some kind of finance agreement. By reducing the need to buy a car outright, and part with a large amount of money in one go, buyers can afford better cars that more closely suit their needs.
PCP is the most common form of car finance in the UK as it allows the convenience of affordable monthly payments, plus the option of being able to buy the car outright at the end of the agreement if you find that the car has become part of the family. If your circumstances change, then PCP has you covered there too, as agreements usually last between 2 and 5 years, giving flexibility to switch into a different type of car.
Where a car might cost £20,000 to buy outright, splitting that overall cost into a deposit, a series of monthly payments and an optional final payment can make the idea of driving a new car much more realistic. Saving £20,000 might be impossible for you, but pulling together ten per cent of that for a finance deposit might feel more manageable. After that, you just need to afford the monthly payments, which are typically far lower with PCP than with an equivalent Hire Purchase deal.
A PCP contract typically lasts for two to five years, and at the end, you usually have three choices. The first is you can just hand the car back with nothing left to pay - provided you've stuck to the pre-agreed mileage limit and haven't caused any damage beyond fair wear and tear. You can also choose to make the optional final payment (the amount the car is still considered to be worth) to actually buy the car. And your final choice, which is the most common, is to trade the car in for a new one, using any equity - if the car is worth more than expected at the end of the contract - to put towards the deposit on your next car.
Best city car PCP deal
Our pick Kia Picanto '3'
The Kia Picanto has a lot going for it. Take its 100,000-mile seven-year warranty. This isn’t just industry-leading for a city car, it’s more than you’ll get on any high-end luxury car such as a Rolls Royce. The best bit is the warranty is fully transferrable, so even if you pick up a four-year old Picanto, you still have three years' warranty left - the same as most brand-new cars.
Furthermore, while a Rolls Royce can cost the same as buying a new Picanto every single month if financed, a well-equipped Picanto can be scooped up for well under £200 per month new, or even less if you opt for a used example, taking advantage of that warranty for some serious peace of mind.
Right now, the Picanto only has one engine choice, a 1.0 petrol, with either a five-speed manual or automatic gearbox. As for equipment levels, the Picanto starts packing some serious tech punch in ‘3’ specification and above. Equipment includes Android Auto and Apple CarPlay, a reversing camera and Bluetooth. Therefore, if you want that kit and can afford it, it's best avoiding more basic ‘1’ and ‘2’ versions.
Best small hatchback PCP deal
Our pick Ford Fiesta 1.0 EcoBoost Titanium
Year after year the Ford Fiesta sits right at the top of UK new car sales charts - outselling direct rivals such as the Vauxhall Corsa and Renault Clio. Its success is down to a blend of good equipment levels, strong engines, a great driving experience, a comfortable ride and affordability. Quite the achievement for such a small car.
Even though there is a newer version of the Fiesta now on sale, the previous version is still an excellent choice especially with the number of great PCP deals on offer. Entry-level Style versions are best avoided due to a lack of equipment but Zetec trims and above are good buys.
There are a number of engines available (including diesels) and while the turbocharged 1.0-litre 'EcoBoost' petrol units are the most desirable, they tend to be more expensive than other versions, too. As a result, the biggest bargains are to be found with those models powered by the 1.25-litre petrol engine.
Best compact family car PCP deal
Our pick Renault Megane 1.3 TCe Play
Used deals Limited stock
Compared to the model it replaced, the new Renault Megane is worlds apart. It's comfortable, practical, well-equipped and available with some very frugal engines. It might not be the most exciting car of this type to drive - though it is better than the previous versions - but as an overall package, it takes some beating.
Plus, thanks to arriving on the market a little while before the equivalent versions of the Ford Focus and VW Golf, there are lots of models available which have already had several years to lose much of their original price tag - meaning bargain used costs if you go for one of these.
Renault reshuffled the Megane’s range in the middle of 2018 renaming the models. As a general guide, Dynamique trim for cars registered before the second half of 2018 offers a good blend of equipment and price, while even entry-level Play versions of those registered since mid-2018 pack impressive standard equipment, so are well worth hunting down.
Best family car PCP deal
Vauxhalls are sometimes pigeonholed as being boring - but the Insignia Grand Sport is far from it. Beneath those sharp looks, it is spacious, good to drive, economical (with the right engine), and has a well-appointed cabin. Ignoring entry-level Design models, standard equipment includes a touchscreen media system (with Android Auto and Apple CarPlay compatibility), cruise control and a digital radio.
Despite being a great buy, Insignia Grand Sports haven’t managed to fully escape some of the negative stigmas associated with being a Vauxhall and larger hatchback models such as the Insignia are falling out of favour with many drivers, who would prefer to pay a premium for a more expensive SUV.
As a result, they lose value quickly from new. This is a problem if you buy one new - as you'll get a low proportion of the price back when you come to sell - but fantastic news if you snap up one second-hand, as you get a huge amount of car for your monthly budget due to the low used prices.
Best SUV PCP deal
Peugeot hit a home run with its 3008, what with its funky styling inside and out, decent levels of refinement and a range of efficient engines. Like many recent Peugeots, the driving position is an acquired taste - as the French carmaker decided to use tiny steering wheels that you look over (rather than through) to see the dials - but in the 3008 the setup works quite well.
There is a substantial amount of standard equipment - included are dual-zone climate control, parking sensors, a touchscreen media system and 12.3-inch digital driver’s display, which replaces traditional dials and can be configured in several different formats.
Considering how good the 3008 is and its popularity, PCP monthly payments are very keen indeed. Second-hand cash prices are higher for the 3008 than with some alternatives, but because there's lots of demand for used versions, the car retains value well as it gets older. This reduces how much value it loses over the contract, in turn cutting your monthly payments compared with a car of the same initial price that loses value quicker.
What’s more, there are plenty of engine and gearbox options to satisfy all sorts of drivers - although expect to pay a premium for more desirable options, such as an automatic gearbox.
Best crossover PCP deal
Despite being a rather sensible hatchback that happens to offer a raised driving position, the Citroen C3 Aircross is, at heart, quite fun. No, it's not at all sporty, but it's fun in a pack-it-full-of-luggage-and-friends-and-go-on-an-adventure kind of way. It looks quirky, offers decent comfort and has lots of feel-good factor, compared with less interesting alternatives.
Citroen offers the C3 Aircross with a number of 1.2-litre petrol engines plus a 1.6-litre diesel engine. Those wanting an automatic gearbox, though, are limited to petrol models only, though this is no hardship as the turbocharged 1.2-litre engines are punchy, smooth and economical.
As a new purchase the Citroen C3 Aircross can be costly for a car this size. There's no need for you to pay those prices, though, as two-year-old used versions can often be picked up for half of the initial price. That in turn contributes to rock-bottom PCP monthly payments, since you're financing a much smaller amount than with a new equivalent.
Best convertible/sports car PCP deal
Minis are inherently fun - the way they look, the way they drive, the way their interiors are designed - all of it just screams fun. The Mini Convertible takes things one step further by adding a folding roof. Prices may initially seem high, but for a fun, semi-fast convertible that can, just about, seat four passengers the Mini is a steal. The only similar rival is the Audi A3 Convertible.
Thanks to a wide variety of personalisation options when new, used Mini Convertibles come in a good spread of colours and trims so it can be worth spending a little longer searching to find a car that suits your exact tastes - as there's plenty of choice.
Cooper models will be the most readily available with low monthly payments as they are the entry-point to the range from a performance point of view, but they can still come with impressive levels of equipment if the original owner added lots of optional extras - as many did.
Best executive car PCP deal
Our pick BMW 640d M Sport
Used deals Limited stock
The BMW 6 Series, specifically the 640d diesel variant, is so clever it's practically witchcraft. Somehow it manages to be hugely luxurious, just as adept at cruising from London to Lisbon as it is zooming along a B road and faster than most sports cars, all the while offering an official fuel economy figure of just over 50mpg - meaning it shouldn't cost too much to run.
What’s more, on top of the Gran Coupe variants (Gran Coupe is BMW speak for a sleek four-door model) there is the choice of a two-door coupe and two-door convertible as well. The interior doesn’t let the side down, either.
Inside the 6 Series is sleek and feels well put together. Being a large car and one that is perceived to have high running costs, used prices for the 6 Series are surprisingly low - especially if you opt for PCP finance which cuts those low prices into small monthly payments.
Used BMW 6 Series
BuyaCar prices Limited stock
*Representative PCP finance - Ford Fiesta:
48 monthly payments of £192
Mileage limit: 8,000 per year
Optional final payment to buy car: £2,923
Total amount payable to buy car: £11,926
Total cost of credit: £2,426
Amount borrowed: £9,500
BuyaCar is a credit broker, not a lender. Our rates start from 6.9% APR. The rate you are offered will depend on your individual circumstances.