B - Balloon payment

Monday, June 05, 2006

Balloon payment - The final amount due as part of a Personal Contract Purchase (PCP), also known as the Minimum Guaranteed Future Value (MGFV). For more details see PCP and Finance.

For whatcar.com's guide to contract hire and leasing click here








Glossary

Want to know the difference between your APRs and your PCPs? Our Glossary will guide you through the minefield of car-buying terms.