Personal Contract Purchase
What is Personal Contract Purchase
With our Personal Contract Purchase, you can keep your monthly payments lower, by deferring a significant proportion of the amount of credit to the final payment at the end of the agreement. Agree an initial deposit, how many miles you are likely to travel each year and agreement term, your dealer will calculate the Guaranteed Future Value (GFV) for your vehicle, confirm your monthly payment and submit an application to us. Subject to your application being approved, you can just drive your vehicle away.
part exchange your vehicle for a new one via your Mitsubishi dealer, subject to settlement of your existing finance agreement; new finance agreements are subject to status.
pay the final lump sum payment to own the vehicle.
return the vehicle to Shogun Finance Ltd under the Goods Return Option, instead of paying the final lump sum payment. If the vehicle is in good condition and has not exceeded the permitted mileage, you will have nothing further to pay. If the vehicle has exceeded the agreed mileage, a charge for excess mileage will apply.
- Ownership - you do not own the vehicle until the final payment is made.
- Deferred payment - a significant proportion of the credit is deferred until the end of the agreement, you should prepare for this if you want to own the vehicle.
- Repossession - your vehicle is at risk of repossession if you do not maintain the contractual payments.
- Insurance - you must have fully comprehensive cover
- Returning your vehicle - You have the option to return the vehicle at the end of your agreement. To avoid incurring charges, the vehicle needs to be in good condition and within the permitted maximum mileage.