What sort of checks will be carried out for a PCP contract?

Are there any criteria for a PCP contract with a new car? Do you have to give proof of income or credit history? My wife and I are self employed.

Thanks.

James Culleton

Mar 2015 Filed under: finance

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Expert answer

Hi James,

There are no specific criteria across all car makers and traders, but it's a credit agreement so like any other you'll be asked to give some details about your personal status and employment and there will be a background credit check carried out. As I know all to well, as a freelance journalist, the words 'self-employed' are ones that most banks and credit institutions don't usually like to hear, but if your credit history is in good order and you can demonstrate regular income, there shouldn't be any problems.

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Neil Briscoe - Complete Car Adviser
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