Self-reliance
While the owner of the auto, you’re able to manage as you wish towards vehicle if you are using a bank loan to finance the automobile (actually when you look at the mortgage period, if you continue to afford the financing from).
For many who opt for a great PCP auto loan deal, you don’t need you to definitely same independency into the contract since it isn’t your car. But not, once you have finished paying off the loan, you really have around three alternatives:
- Pay the balloon payment and you will own the automobile outright
- Fool around with one equity you have toward yet another PCP package into the another vehicles
- Hands the car back and walk off
PCP sales tend to be a lot more restrictive when it comes to distance also. Continue Reading Is actually PCP car loan right for me?