We provide tailored finance agreements for individuals seeking their next MINI from any of our Westerly MINI dealerships.

One of the most popular forms of personal finance is the Personal Contract Purchase, commonly known as PCP. It's a type of Hire Purchase agreement, offering an attractive amount of choice and flexibility in the finance terms. Individuals and families alike can benefit from the reduced monthly payments and the ability to simply return the car at the end.

When arranging a PCP, you'll decide on the amount you can put down as a deposit and the maximum monthly payments you can make. Being able to make a higher deposit will reduce your repayments. The monthly amount will be fixed for the duration of your agreement – as will your mileage limit. It's important to remember that you'll be charged per mile for exceeding this limit.

The length of the term also affects the monthly payments you make – if the agreement is longer, the amount will be more spread out over that time. You'll always have the option to pay off the full amount early if you wish.

A minimum guaranteed future value (MGFV) will be established for the vehicle, and a portion of this will be offset to the end of the term as a 'balloon payment'. This is deducted from the full value of the model, and the amount you pay monthly is the resulting number plus interest.

Making the balloon payment at the end completes your purchase. This must be paid to take full legal ownership of the vehicle. You can alternatively hand the car back, trade it in for another model or sell it on. If the sale is for more than the MGFV, you can then cover the balloon payment and hold on to the rest.

You can arrange PCP on any new MINI car right now. Speak with one of our Westerly MINI teams in Exeter, Yeovil, Barnstaple or Bridgwater.