Personal Contract Purchases are similar to a hire purchase
, but instead of paying off the entire value of the car, you only pay the depreciation value. Ownership remains with the lender.
At the end of the term, you either return the car, update it and begin a new term or buy it at the residual price agreed at the start of the loan. This means a much lower monthly payment than with hire purchase on the same vehicle.
You don’t have to compromise on quality just because you’re on a tighter budget. There’s always a way to get under the wire.