West End Garage Škoda Finance
Compare Personal Contract Purchase, Hire Purchase and Personal Contract Hire for new and eligible used Škoda cars. Our teams can explain the available options and provide a personalised quotation based on your chosen car, deposit, term, mileage and circumstances.
The right way to fund a car depends on whether you want to own it, change it regularly or simply return it at the end of an agreed rental period. This comparison provides a general guide; our finance team can explain the terms of a specific quotation.
| Comparison | PCP | HP | PCH |
|---|---|---|---|
| Ownership | Optional after paying the optional final payment and any applicable option-to-purchase fee. | Ownership follows after all required payments and any applicable option-to-purchase fee. | No ownership option. The car is returned at the end. |
| Payments | Deposit, monthly payments and an optional final payment if you keep the car. | Deposit followed by monthly instalments covering the financed amount and interest. | Initial rental followed by fixed monthly rentals. |
| Mileage | An annual mileage is agreed. Charges may apply if the car is returned over the agreed mileage. | There is normally no contractual mileage limit. | An annual mileage is agreed and excess-mileage charges may apply. |
| End of agreement | Keep, change or return the car, subject to the agreement terms. | Keep the car after completing all required payments. | Return the car subject to mileage, condition and agreement terms. |
| Could suit | Drivers who value flexibility and may want to change cars regularly. | Drivers intending to keep their car after the agreement. | Drivers who prefer a fixed-term rental without ownership. |
Flexibility to keep, change or return your Škoda at the end of the agreement.
Personal Contract Purchase normally combines a deposit with fixed monthly payments and an optional final payment. The optional final payment is based partly on the car's anticipated value at the end of the agreement. An agreed term and annual mileage are used when preparing the quotation.
PCP may suit customers who prefer lower monthly payments than an equivalent HP agreement and value having choices at the end. Excess-mileage, condition and other charges may apply when a vehicle is returned, so always review the specific agreement before proceeding.
View Current Škoda PCP OffersA straightforward route towards owning your Škoda.
With Hire Purchase, you normally pay a deposit followed by fixed monthly instalments over an agreed term. The payments cover the financed amount and interest. After all required payments and any applicable option-to-purchase fee have been made, ownership passes to you.
Monthly payments may be higher than PCP because more of the vehicle's price is repaid during the agreement. You cannot sell the car before the finance has been settled. If you wish to end or settle an agreement early, contact the finance provider for an up-to-date settlement figure and details of the available options.
Request a Personalised HP QuoteA fixed-term rental for customers who do not need to own the car.
Personal Contract Hire is a rental agreement. You make an initial rental followed by fixed monthly rentals over an agreed term. You also agree an annual mileage. At the end of the contract, the car is returned and there is no ownership option.
PCH may suit customers who prefer to change their car regularly and do not want ownership. Excess-mileage, condition and early-termination charges may apply. Maintenance options may be available with some quotations.
View Škoda PCH OffersFor companies and business drivers
Business customers may have access to additional funding arrangements. Availability, accounting treatment and tax considerations depend on the product and individual business circumstances, so professional tax or accounting advice may be required.
A rental agreement that does not lead to ownership. Depending on the agreement, a business may have the opportunity to share in qualifying sale proceeds or enter a secondary rental period.
An agreement designed to lead to ownership, with part of the cost deferred to a final repayment. Product availability and terms should be confirmed with our business team.
Finance may be available on new and eligible used Škoda cars, subject to status, vehicle eligibility and lender criteria. Current offers can change, so use our offer pages for published finance examples or contact us for a quotation based on the exact car you are considering.
View current model offers, representative finance examples and available incentives across the new Škoda range.
View New Škoda OffersBrowse available Škoda cars and ask our team whether finance is available for the vehicle you have selected.
Search Škoda CarsContact your nearest West End Garage Škoda team. We support customers across Edinburgh and the Lothians, Dunfermline, Fife and Perthshire, Stirling, Falkirk and Central Scotland.
Supporting customers across Edinburgh, Midlothian, West Lothian and the wider Lothians.
Call 0131 453 2244Contact EdinburghSupporting customers across Dunfermline, Rosyth, Kirkcaldy, Fife and Perthshire.
Call 01383 623006Contact DunfermlineSupporting customers across Stirling, Stirlingshire, Falkirk, Perthshire and Central Scotland.
Call 01786 813433Contact StirlingDepending on the vehicle, eligibility and current product availability, options may include Personal Contract Purchase, Hire Purchase and Personal Contract Hire. Business customers may have access to additional finance or leasing products.
PCP defers part of the vehicle cost to an optional final payment and provides choices at the end of the agreement. HP spreads the financed amount and interest across the agreement and is designed to lead to ownership after all required payments are completed.
Not automatically. To own the car, you must pay the optional final payment, any applicable option-to-purchase fee and meet the agreement terms. You may instead change or return the car, subject to the contract.
Ownership normally passes to you after all required instalments and any applicable option-to-purchase fee have been paid and the agreement obligations have been met.
No. Personal Contract Hire is a rental agreement without an ownership option. The vehicle is returned at the end, subject to the agreed mileage, condition and contract terms.
Finance may be available on eligible used Škoda cars, subject to the vehicle, finance provider, status and lending criteria. Contact us with the details of the car for a personalised quotation.
You can ask the finance provider for a current settlement figure and an explanation of the options available under your agreement. The amount and process will depend on the product, timing and contract terms.
Factors can include the vehicle price, deposit or initial rental, agreement term, annual mileage, interest rate, optional final payment, part-exchange equity, product type and applicant circumstances.
West End Garage Škoda has teams in Edinburgh, Dunfermline and Stirling. Contact your nearest location to discuss available products and request a quotation for a new or eligible used Škoda.
For more detailed manufacturer information, use the official Škoda UK product guides. These links open information held and maintained by Škoda UK.
Personal Contract Purchase (PCP) is a finance product that allows you the opportunity to buy a new or a used car.
It is similar to a Hire Purchase agreement as you will usually pay an initial deposit, followed by monthly instalments over a term typically between 18 to 48 months.
What makes PCP different to Hire Purchase (HP) is that your monthly instalments are paying off the depreciation of the car, and not its entire value, over the course of the term. Then, when you get to the end of your agreement, there is a final, balloon payment that must be made if you want to keep the car. The balloon payment is often referred to also as the Guaranteed Future Value (GFV).
When you have chosen your vehicle, you will then agree your annual mileage and decide on the agreement term with one of our Business Managers.
We will then determine the Guaranteed Minimum Future Value (GMFV) of the vehicle at the end of the agreement and work out a deposit and monthly amount that works for you.
At the end of your agreement you will then have three options:
Return – Simply return the car the back to us
Retain – Keep the car by paying the optional final payment
Renew – Trade it in for another car
For a quotation, help, or advice contact us and ask to speak to one of our Business Managers.
You can normally settle your agreement early by asking the finance company to provide you with a settlement figure. However, the finance company will require you to pay off the difference between what your car is worth, and what you still owe and there may be a difference which is known as negative equity. On the other hand, you may find that at the end of your term your car is worth more than the Guaranteed Future Value, which means you will have some positive equity to contribute towards your next car.
Hire Purchase is a way to finance buying a new or used car. You will normally pay an initial deposit and will pay off the entire value of the car in monthly instalments. When all the payments are made, the Hire Purchase agreement ends, and you own the car outright.
The short answer is yes, you can end your finance early. There are different provisions within each finance agreement that allows you to do just that. If you have got through two-thirds of the way through your finance agreement, the options to end the finance agreement early open up.
For a Hire Purchase agreement, there is an option of paying it off early through a settlement fee. A settlement fee covers the cost of any remaining unpaid instalments and interest payments remaining on the agreement. Once the settlement fee is paid, you take full ownership of the car early.
Under a Personal Contract Purchase agreement, you can also pay a settlement fee for bringing the agreement to an end early. After that, you can choose to hand the car back or you have a second option. Through a PCP agreement, you can take full ownership of the car by paying off the remaining Guaranteed Minimum Future Value also known as a balloon payment.
4 Cultins Road, Sighthill, Edinburgh
EH11 4DG
Telephone: 0131 453 2244
Unit 2, Halbeath Motor Park, Crossgates Road,
Halbeath,
Dunfermline KY11 7EG
Telephone: 01383 623006
Forthside Way, Stirling
FK8 1QZ
Telephone: 01786 813433
West End Garage, 4 Cultins Road, Edinburgh
EH11 4DG, Scotland
West End Garage trades as a Partnership
VAT Reg. No 503 0941 86
Copyright © 2023 West End Garage All rights reserved.
West End Garage are a credit broker and not a lender. We are Authorised and Regulated by the Financial Conduct Authority (FCA No: 672010). Finance is subject to status and available to UK residents aged 18 or over. Indemnities may be required. Terms and conditions apply. We work with a panel of carefully selected credit providers who may be able to offer you finance for your purchase. We may receive a commission for introducing you to these lenders.
Registered Office: West End Garage, 4 Cultins Road, Edinburgh, EH11 4DG.
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