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PCP or HP Agreement.
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
Afternoon, as per the title I have taken an agreement for car finance.
I'm quite keen to understand everything I do, but yet again I have missed this really important point.
The car I was buying on PCP - so I thought.
Turns out I have a HP agreement on the car, I did not notice at the time! I signed it.
Within the HP agreement, there is a mileage limit per year - exactly as planned, and also there is a final payment of £7K+ again as I'd expected under the PCP.
My question is do I have a HP agreement with PCP terms? I.e. do your normally expect to return a vehicle under HP, and have mileage limits.
Has something gone wrong? Or should I be worried about the name on this agreement....
Thanks in advance
I'm quite keen to understand everything I do, but yet again I have missed this really important point.
The car I was buying on PCP - so I thought.
Turns out I have a HP agreement on the car, I did not notice at the time! I signed it.
Within the HP agreement, there is a mileage limit per year - exactly as planned, and also there is a final payment of £7K+ again as I'd expected under the PCP.
My question is do I have a HP agreement with PCP terms? I.e. do your normally expect to return a vehicle under HP, and have mileage limits.
Has something gone wrong? Or should I be worried about the name on this agreement....
Thanks in advance
0
Comments
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Hi if anyone could help me
I am looking at getting a brand new car on pcp however when I was credit checked by the dealership they said to me that I have been accepted for hp and not pcp, I just wanted to know is that possible because hp is meant to be more expensive , so if my credit rating is allow me to get the more expensive surely I should be accepted to get the cheaper one or ?
Could someone help me0
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