Telephone: 0113 2822382

Finance at Coopers of Oulton Ltd

Hire Purchase or Personal Contract Purchase

We offer you the choice of a Hire Purchase or Personal Contract Purchase finance agreement. Both agreements can be created for car finance deals with no deposit. Which is best for you depends on your individual circumstances. We’ll explain the main differences below to shed clarity on the matter:

Hire Purchase (HP)

Hire Purchase agreements are a type of credit where once you have paid the total loan amount, you own the vehicle. During the loan term, the financer owns the vehicle. Once you repay them in full, ownership passes to you. Typically, Hire Purchase agreements have higher monthly payments because you are repaying the total car amount. With a Personal Contract Purchase, you repay only part of that amount

Personal Contract Purchase (PCP)

What is it?
It is a flexible form of loan where some of the costis defered until the end of the agreement in order to provide you with the benefit of lower monthly payments. The defered ammount is known as the optional final payment and is sometimes referred to as the guarnteed final value (GFV).

At the end of the agreement you have 3 options:

  • Retain the vehicle - Simply pay the optional final payment and the vehicle is yours.
  • Return the vehicle - Theres nothing more to pay if the vehicle is in good condition and within the agreed mileage term.
  • Renew the vehicle - Choose another vehicle using any excess part exchange value that is above the optional final payment towards your deposit.


Motor Codes can provide CTSI certified Alternative Dispute Resolution (ADR) service if a consumer remains dissatisfied with the outcome of a dispute in relation to service and repair.
Coopers of Oulton Ltd is authorised and regulated by the Financial Conduct Authority (Reference no. 653953) for consumer credit purposes. Coopers of Oulton Ltd is a Credit Broker not a Lender. You can check this on the FCA Register by visiting the or by contacting the FCA direct on 0800 111 6768.