PCP generally represents an individual's finance on the vehicle they purchase. I have read an article regarding this, I would like to share this to get further information. https://www.reddit.com/user/jessicamcneel/comments/jn59ne/best_ways_to_find_outstanding_finance_on_the_car/ https://sites.google.com/view/outstandingfinancecheck/home

The way to understand something is to define the "terms". Not just "terms" (condtions, requirements, responsibilities, obligations, etc.) of the contract, but also you have to question the "terms" (words) he uses if you don't understand what he is telling you. I suggest that when you are ready to buy a car that you ask the seller to define any words that he uses that you don't understand. Read anything that you are asked to sign, and take as long as it takes to understand what you are agreeing to. Don't be intimidated into "staring moments". Don't let him distract you with his pen pointing at text as if you are reading it while he tells you what it means. It usually means "Just sign. You can read it later." To (hopefully) answer your question, that sounds like an agreement between the seller and the buyer. That would probably mean a downpayment and monthly (or even weekly) payments. That is often helpful to young buyers who have not yet established credit. Traditional finacing involves something like a finance company loaning you money to buy the car, then you pay that company. Young buyers may not have the credit history to get major loan.