PCP or HP Agreement.

[Deleted User] · 17 October 2018 at 12:08PM

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

Nicola98 · 17 November 2018 at 7:18AM

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 me

PCP or HP Agreement.

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