Ferrari PCP in 2026: The Guaranteed Future Value and When It Earns Its Keep
Picture the last month of a four year PCP on a 12Cilindri. The car cost £335,000 new. The agreement says the final payment is £184,250, and that figure was fixed on day one. Now three different things can be true. The car might be worth £160,000, in which case you hand the keys back and the £24,250 gap belongs to the lender. It might be worth about £184,250, in which case the choice is a matter of taste. Or it might be worth £220,000, in which case £35,750 of equity is yours to keep or roll into the next car. Every other feature of a Ferrari PCP, the rate, the mileage clause, the condition report, exists to pay for that first scenario. Whether the guarantee earns its keep depends on how likely you think it is, and on which Ferrari you are putting it on.
Ferrari Finance is part of Hypercar Finance, a trading name of Lenzie Consulting Ltd (company number 08174104). We arrange finance: we are not a lender, not a dealer, and we do not sell cars. The business is not authorised or regulated by the FCA. Agreements entered into wholly or predominantly for business purposes are not regulated consumer credit and we arrange those directly; where an agreement is regulated consumer credit we introduce it to an FCA authorised broker partner, which carries the regulated activity and any advice. There is no minimum advance, and every figure below is indicative, not an offer.
Not affiliated with Ferrari S.p.A. Vehicle marques named here are the trade marks of their respective owners.
In the episode below, Georgina walks through what the guaranteed figure on a Ferrari PCP protects, and what it costs to have it.
What the guarantee on a Ferrari PCP actually promises
PCP stands for personal contract purchase, though plenty are written to companies. Like lease purchase, it defers a large part of the price to one final payment, so the monthly figure is far lower than hire purchase. The difference is one word. On lease purchase the final figure is an estimate and the risk of a shortfall is yours. On a Ferrari PCP the lender guarantees it, which means you can walk away at the end instead of paying it.
That promise comes with conditions. The guarantee assumes an agreed annual mileage and a car returned in fair condition. Go over either and the lender charges for it, because the guaranteed figure was calculated on a car that had not done those miles or taken that damage. It also comes with a price: a lender taking the risk on a quarter of a million pounds of depreciation builds that risk into the rate. On our site the published examples use the same 8.9 per cent across every agreement so they can be compared cleanly, but a real PCP quote usually lands a little above the equivalent lease purchase.
Which Ferraris can go on PCP at all
This is where most PCP conversations end before they start. To guarantee a value four years out, a lender needs a list price and a deep enough used market to forecast from. In the Ferrari model file only one of the five eras offers that: the sixteen cars currently in production, and in practice the seven series models with a UK list price, from the Roma at £199,355 to the SF90 Stradale at £419,940.
A modern era car built between 2010 and 2025 is valued on the used market, and lenders are reluctant to guarantee a closing figure on a car already several years into its life. Modern classics, classics and vintage cars are valued case by case, and nobody will put a guarantee on what a 1990s or 1970s Ferrari will fetch in 2030. Limited build cars are awkward too, even when new: the SF90 XX Stradale and the F80 are each limited to runs of 799, and a small run means few comparable sales to forecast against. If a quote on an older or limited car is described as PCP, check whether the final figure is guaranteed. If it is not, you are looking at lease purchase under a different name.
Working a 12Cilindri PCP through
Here is the arithmetic behind the figures at the top of this page, using our standard assumptions of 8.9 per cent, 48 months, 20 per cent down and 55 per cent deferred.
- The 12Cilindri lists at £335,000. The deposit is £67,000, so £268,000 is financed.
- The guaranteed final payment is 55 per cent of the full price: £184,250.
- The monthly rate is 8.9 per cent divided by 12, or 0.0074167.
- The final payment is not due until month 48, so discount it: (1.0074167) to the power of minus 48 is 0.70139, and £184,250 multiplied by 0.70139 is £129,232.
- Take that away from the amount financed: £268,000 minus £129,232 leaves £138,768 to be repaid through the monthly payments.
- Multiply by the payment factor, 0.0074167 divided by (1 minus 0.70139), which is 0.024838. The result is £3,447 a month.
On hire purchase, with nothing deferred, the same car costs £6,656 a month. The PCP saves £3,209 every month, and in exchange there is still £184,250 to settle, refinance or hand back at the end.
Month 48: three endings, one guarantee
The table below uses the same 12Cilindri and three hypothetical values at the end of the term. None of them is a forecast; they show how the guarantee behaves.
| Value of the car in month 48 | Your best move | Who takes the gain or loss |
|---|---|---|
| £160,000 | Hand the car back and walk away | The lender absorbs the £24,250 gap |
| £184,250 | Pay the final figure, or return it | Nobody; the guarantee was spot on |
| £220,000 | Pay £184,250 and keep it, or trade it in | You keep £35,750 of equity |
The third row is how most PCP agreements on well regarded current cars actually finish, and that is the honest objection to them. Lenders set the guaranteed figure cautiously to protect themselves, so on a car the market likes, the value at the end is more likely to sit above the guarantee than below it. You keep the upside either way. What you paid for, through the rate, was the first row.
A PCP guarantee is insurance against the car disappointing you. On a Ferrari you already expect to hold its value, you pay a premium for a claim you will probably never make.
Mileage, condition and the real price of the promise
Two clauses in a Ferrari PCP carry more money than a point on the rate. The first is the annual mileage. Allowances on cars like these are usually modest because few owners cover big distances, but whatever figure is written in is enforced, and excess miles are charged at a rate set in the agreement. The second is the return standard. Kerbed wheels, stone chips and a gap in the service record all cost money at inspection, and repairs on a car of this value are not cheap.
Neither clause matters if you keep the car. Both matter a great deal if you use the walk away option, which is the only reason to choose PCP over lease purchase in the first place. Read them before you read the rate.
Business PCP or personal PCP?
A PCP written to a limited company for business use is not regulated consumer credit, and we arrange it directly. A PCP taken out by you personally for private use usually is, and we introduce it to an FCA authorised broker partner. The difference is more than paperwork. Under the Consumer Credit Act a regulated agreement of this kind carries voluntary termination: once you have paid 50 per cent of the total amount payable, you can hand the car back. On a PCP that total includes the final payment, so the point arrives late in the term. On a business agreement the right does not exist at all, and the guarantee in the contract is your only exit.
When a Ferrari PCP is the wrong call
When you already know you are keeping the car. Paying for a walk away option you will never use costs more than hire purchase or lease purchase over the same term. It is also the wrong call on any car you expect to rise in value, because a guarantee below the market is worth nothing. And it is the wrong call when the car is too old or too rare for a real guarantee to be offered, which takes most of the 151 cars in the model file out of the question. If none of those apply, and you genuinely might want to hand the car back in four years, PCP is the one agreement that lets you do it without a loss landing on you.
Outlook: PCP appetite into 2027
The Bank of England base rate stood at 3.75 per cent after the 30 July 2026 decision, with the next decision on 17 September 2026. That rate is background: nobody borrows at it, and the pricing on a PCP owes more to how confident lenders feel about used Ferrari values than to base rate. The thing to watch is the used market for cars two to four years old, because that is the evidence lenders use to set the guaranteed figure on today’s new cars. A steady market means cautious but usable guarantees. A soft one means lower guarantees and higher monthly payments.
FAQ
What car is the poor man’s Ferrari? It is a nickname that gets attached to many cheaper sports cars. If the question behind it is how to own a Ferrari for less each month, the answer is not usually PCP, which only runs on current cars. A used modern era Ferrari on hire purchase, with the early depreciation already gone, is often the cheaper route.
How much is a Ferrari lease monthly? It depends which kind of lease. Contract hire rentals are quoted per car rather than published. On a PCP or lease purchase with 55 per cent deferred, our indicative figures run from £2,051 a month on a Roma to £4,321 on an SF90 Stradale.
How much is PCP on a 20,000 car? Run the same assumptions on a £20,000 car, a £4,000 deposit, £11,000 deferred, 8.9 per cent over 48 months, and the payment is about £206 a month against about £397 on hire purchase. Mainstream cars are priced on very different rates and deferrals, so treat that purely as a check on the arithmetic.
Does Ferrari offer financing? Yes. The manufacturer’s finance arm, Ferrari Financial Services, quotes through franchised dealers and is worth a quote on a new car. Independent specialist lenders cover the cars and buyers outside its criteria.
Talk to us
If you want the option to hand a current Ferrari back, tell us the model, the mileage you expect to cover and whether it is going through the company. We will say whether a genuine guarantee is realistic on that car and how the monthly figure compares. Read more on Ferrari PCP, or compare it with lease purchase without the guarantee. See also our page on business contract hire if the company never wants to own the car at all.
All figures in this article are indicative, not an offer, a quote or a financial promotion, and any agreement is subject to lender terms, valuation and full underwriting. This article was written by Matt Lenzie.