Finance Options at Waylands

At Waylands we have trained finance specialists within all of our dealerships who pride themselves in offering outstanding customer service and assisting customers in finding the right funding solution to suit their pocket and individual circumstances. With clear agreements and competitive finance packages available to suit your needs, we're confident we can help you get something special on your driveway.

If you already know which finance option will suit your needs, you can browse all of our new & used stock and either reserve for £99 or apply for finance and complete the transaction online.

Personal Contract Purchase (PCP)

Personal Contract Purchase (PCP) is a finance product that allows you the opportunity to buy a new or a used car.

If you like to change your car every 2-3 years, then the Volvo Car Advantage personal contract purchase plan, is perfect. By deferring part of the cost to the end it means you can reduce the length of your agreement, and at the end you have the flexibility to keep,exchange or return your vehicle.

What makes PCP different to Conditional Sale (CS) 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).

Plan benefits:

  • Reduced instalments compared to regular finance plans due to optional final payment
  • Ideal if you plan to change cars every 2-3 year
  • Guaranteed Minimum Future Value protects you from any future declines in used car prices
  • You will benefit from all the consumer lending right

How do the plans work?

  • Choose from a range of deposits
  • You then choose your repayment period (up to 48 months) to suit your buying needs.
  • A Guaranteed Minimum Future Value (GMFV) is set by Volvo taking into consideration the age and mileage of the car. This value is used to set the optional final payment.

Purchase Plan (PP)

Purchase Plan is a method of obtaining goods e.g. a vehicle, pay for the use of the vehicle over a pre- agreed period and at the end of that period, once an Option to Purchase Fee has been paid, the goods become your property. To find out more about Purchase Plan, including important things you must consider before taking out an agreement, click on the link above.

What are the advantages of PP?

  • You’ll be able to drive away a car that you may not have managed to buy outright.
  • Unlike a PCP or PCH contract, you won't need to estimate your mileage at the start of your Purchase Plan agreement, so you'll avoid excess mileage charges.
  • Once you’ve made your final monthly payment, including the option to purchase fee, you'll have full ownership of the car.

What should you consider when opting for PP?

  • Monthly payments may be higher than some other finance options, such as PCP, as you're paying off the full value of the car.
  • You won’t be able to sell the car without settling the finance.
  • You won’t own the car until you have made all of your repayments.
  • You’ll need to keep the car properly insured, maintained and in your possession until the full value is paid off.

Can I settle my PP agreement early?


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 Purchase Plan 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.