PCP guide

What is a PCP settlement figure and how do I get one?

A PCP settlement figure is the amount your finance provider says must be paid to settle the agreement early by a stated date.

It is not necessarily the same as adding together your remaining monthly payments or looking only at the optional final payment. The finance provider calculates the figure under the terms of your agreement.

Requesting the figure helps you understand your current position. It does not guarantee that changing, selling or part exchanging the vehicle will be possible.

Published by: Drive On editorial team

Last reviewed: 25 July 2026

Information checked against independent consumer guidance from MoneyHelper.

How to get your settlement figure

Find the finance provider named on your PCP agreement.
Request a current settlement figure using the provider’s available contact method.
Check the amount, expiry date and any instructions shown on the quotation.
Compare the settlement figure with your vehicle’s current value.

What does a PCP settlement figure represent?

The settlement figure is the amount calculated by the finance provider to bring the agreement to an end early, provided payment is made under the conditions and by the date shown.

The provider’s calculation reflects the current position of the agreement. It may take account of the outstanding balance, future interest that is no longer payable and any fees or charges permitted under the agreement or applicable rules.

The exact calculation is controlled by the finance provider. Drive On cannot calculate or confirm an official settlement figure.

How do I request a PCP settlement figure?

Request the figure directly from the finance provider named on your agreement.

Depending on the provider, this may be available through an online account, mobile app, telephone service or written request. The exact process differs between providers.

You may be asked for information such as:

Your agreement or account number
The vehicle registration
Your name and contact details
Information needed by the provider to verify your identity

Ask for the settlement figure in a form you can retain, such as an online document, letter or email, where the provider offers this.

How long is a settlement figure valid?

A settlement figure is normally calculated for a particular date or limited period.

Check the expiry date shown by the finance provider. Payments, interest, timing or other changes to the agreement may mean that a later quotation is different.

If the quotation expires before it is used, request an updated figure.

Does requesting a settlement figure commit me to paying it?

Requesting a settlement figure normally provides information about the amount required to settle the agreement early. It does not by itself mean that you must make the payment.

Check the quotation and your agreement for any provider-specific conditions.

Paying the settlement amount is a separate action. Do not make a payment unless you understand the provider’s instructions and the effect on your agreement.

Is the settlement figure the same as the balloon payment?

No.

The optional final payment, sometimes called the balloon payment, is the amount shown in the PCP agreement that may be payable if you choose to buy the vehicle at the scheduled end of the agreement.

A settlement figure is calculated when you ask to end the agreement early. It reflects the agreement’s position at that time and is not simply the optional final payment.

Optional final payment

Applies at the scheduled end of the PCP agreement
Relates to the option to purchase the vehicle
Is shown in the original agreement

Early settlement figure

Applies when settling the agreement before its scheduled end
Is calculated for the current agreement position
Must be requested from the finance provider

Learn about your options at the end of a PCP agreement

How does the vehicle’s value affect your position?

Once you have a current settlement figure, it can be compared with the vehicle’s current trade or market value.

Vehicle value is higher than the settlement figure

There may be positive equity after the finance is settled. Whether that value can be used towards another vehicle will depend on the final appraisal and transaction.

Vehicle value is lower than the settlement figure

There is a shortfall, often called negative equity. The difference would normally need to be addressed before the current finance can be fully settled.

The two figures are broadly similar

The position may be close to neutral, although the final outcome can still change following the dealer’s vehicle appraisal and an updated settlement quotation.

Can a dealer use my settlement figure?

A dealer considering a vehicle transaction will normally need a current settlement figure to understand how much finance remains to be settled.

You may be asked to share the quotation or authorise the finance provider to confirm information. The exact process depends on the dealer and finance provider.

Some dealers may arrange to pay the finance provider directly as part of a completed transaction.

You remain responsible for the existing agreement until the finance provider confirms that it has been settled. Do not assume that a dealer enquiry or appraisal has ended the agreement.

Learn how part exchange can work with outstanding PCP finance

Can I sell the vehicle before settling the PCP?

You should not sell or transfer the vehicle while the finance remains outstanding without the finance provider’s permission.

The finance provider normally remains the legal owner during the PCP agreement. Obtain a settlement figure and follow the provider’s instructions before attempting to sell or transfer the vehicle.

After settlement, retain the provider’s confirmation and check that the agreement has been closed before proceeding.

Is early settlement the same as voluntary termination?

No.

Early settlement involves paying the finance provider the amount required to settle the agreement before its scheduled end.

Voluntary termination is a separate legal route that may allow a customer to return the vehicle after at least 50% of the total amount payable has been paid, or after enough is paid to reach that point.

For PCP agreements, the total amount payable includes the optional final payment. The 50% point may therefore be reached relatively late in the agreement.

Anyone considering voluntary termination should check their agreement and seek information directly from their finance provider or an independent organisation such as MoneyHelper.

How Drive On uses your PCP information

Drive On allows you to share your current vehicle and PCP position once.

Approved dealers can review a masked summary of the opportunity. Your direct contact details are not shown unless a dealer chooses to unlock the opportunity.

Submitting your details is free for consumers. There is no consumer account and no obligation to proceed.

Drive On does not calculate settlement figures, settle finance, provide financial advice or arrange finance.

Have your current PCP details?

Share your vehicle and PCP position free. Suitable approved dealers can review the opportunity while your contact details remain masked.

Share your PCP details - free

Questions consumers often ask

Can I ask for a settlement figure at any time?

You can ask your finance provider for information about settling the agreement early. The provider will explain its process, any conditions and how long the quotation remains valid.

Will my settlement figure stay the same?

Not necessarily. It can change as payments are made, time passes or the agreement position changes. Use a current quotation when considering a transaction.

Can Drive On obtain the settlement figure for me?

No. Request the official settlement figure directly from the finance provider named on your agreement.

Can a dealer settle the finance directly?

Some dealers may arrange direct payment to the finance provider as part of a completed vehicle transaction. The process and decision will depend on the dealer, provider and overall transaction.

Does getting a settlement figure mean my PCP has ended?

No. The agreement continues until the required settlement process is completed and the finance provider confirms that the agreement has been settled.

What should I do if I cannot afford my PCP payments?

Contact your finance provider as early as possible. Free, impartial debt guidance is also available through MoneyHelper and other recognised debt-advice organisations.

Sources and further help

This guide provides general information only and is not financial or legal advice. PCP terms, calculations and settlement processes differ between providers and agreements. Check your agreement and obtain an official settlement figure from your finance provider before making a decision. MoneyHelper offers free, impartial guidance.