Why PCP? 

Personal Contract Purchase (PCP) can help you buy your dream motorhome with lower monthly repayments than a Hire Purchase (HP) product as a large proportion of the amount you repay is deferred into an optional final repayment.  You will pay more interest on a PCP agreement than a HP agreement for the same loan amount, term and APR* as your balance reduces more slowly due to the optional final repayment.


How it works

  • Agree an initial deposit and term with the dealer.
  • Decide your annual mileage up to 8,000 miles a year.  The annual mileage selected will affect your monthly repayments and the optional final repayment amount.
  • The dealer will then work out the monthly repayment amount and optional final repayment amount, based on the anticipated value of the motorhome at the end of the agreement.
  • At the end of the agreement, you can part exchange the motorhome, return the motorhome (return conditions apply) or pay the optional final repayment and own the motorhome.
  • Black Horse buys the motorhome on your behalf and owns the motorhome for the duration of the finance agreement.
  • After you've made all the repayments including the optional final repayment and any interest, you will become the owner of the motorhome.

*Annual percentage rate of charge - the is the total cost expressed as an annual percent of the total amount of credit.  The APR is there to help you compare different offers.​

At the end of the agreement you will have three choices:

Part Exchange.  Subject to paying off your existing agreement in full, you can part exchange the motorhome at the end of the term or any time during the agreement.   New credit agreements are subject to status.   The motorhome could be worth less that the optional final repayment leaving you with a shortfall to pay before starting a new agreement.

Return.  You have the option to return the motorhome to us at the end of your agreement.  To avoid incurring charges, the motorhome needs to be in good condition and within the permitted maximum mileage.  Click here to see our 'Good Condition Guide'. (PDF, 9.1MB)

Own.   Own the motorhome outright by paying the optional final repayment. A purchase fee of £10 is included.


What you will pay

Flexible Deposit Options

£0 deposit may be available

Fixed Interest Rate & Monthly Repayments

You'll make equal monthly repayments with a fixed interest rate over your chosen period of 1-5 years

End of Agreement

Choose to either part exchange, return the motorhome or pay the optional final repayment to own the motorhome.

What you need to know

Ideal if

  • You like to keep your options open at the end of the agreement.
  • You like to budget and know the exact repayment amount each month.
  • You'd like to keep your monthly repayments lower by deferring a large proportion of credit into an optional final repayment. 

The choice is yours

  • The maximum age of the motorhome at the end of the agreement is typically 5 years.
  • Maximum and minimum finance amounts may apply.

Things to consider

  • You must be at least 18 years old and a permanent UK resident.
  • You must have the relevant driving licence for the motorhome.
  • You must have fully comprehensive insurance.
  • You do not own the motorhome until the final repayment including interest has been made.
  • The motorhome is at risk of repossession if you do not maintain contractual repayments.
  • Protection under the Consumer Credit Act Termination Rights and Protection under the Consumer Rights Act.
  • Before you decide to apply for finance for a motorhome, we would encourage you to make enquiries of the dealer to ensure you fully understand all information about the motorhome so that you can make a fully informed decision as to whether the motorhome is suitable for you.
  • The motorhome should be used for leisure purposes only and cannot be used as your main dwelling. ​​
  • Dealers typically receive commission or other benefits for introducing you to us.  If you request, they must tell you in good time before you enter into the credit agreement, the amount of any commission payable.
  • Details of your credit agreement will be recorded with credit reference agencies.
Finance calculator - the simple way to get an indicative quote

Compare our leisure finance products

View the Black Horse leisure finance product comparison page to help you decide which product is right for you

Personal Contract Purchase

Watch the product video or download our Motorhome product guide for more information.