Drive Now Pay Later - 6.9% APR Representative**

Try our flexible finance plan designed to help you drive away a new vehicle sooner than you may think. Speak to a retailer to find out how you can spread the cost of your first 3 monthly payments.

How does it work?

Pay the vehicle cost in three parts


ŠKODA UK will pay a contribution towards your finance deposit on eligible PCP offers and models (up to 5.4% APR Representative*). You can also pay an additional deposit (subject to minimum and maximum deposit restrictions).

Repayment period

Choose any period between 18 to 49 months. The first 3 payments will be deferred across the remaining 14 to 45 months, so you pay nothing until month 4. Please note, PCP offer term restrictions may apply.

Optional final payment

Based on the vehicle, the agreement term and anticipated annual mileage, ŠKODA Financial Services calculate the optional final payment.


What ŠKODA cars can I use Drive Now Pay Later on?

Drive Now Pay Later is available in conjunction with Solutions Personal Contract Plan (PCP) offers only, so will be subject to any PCP offer model or trim exclusions. To find out which models are eligible to finance on PCP, please visit our PCP offers page.

Can the Drive Now Pay Later offer be combined with 0% APR Finance?

Drive Now Pay Later is available with any of our Solutions PCP offers, including 0% APR. If used in conjunction with a 0% APR offer, it may be subject to specific offer requirements such as terms between 18-36 months only, and minimum 10% deposit required. No payments will be taken in the first 3 months, and payments will be spread across the remaining 14-32 months.

How does the Drive Now Payer Later offer work?

It’s essentially a Solutions Personal Contract Plan (PCP) agreement that is structured in a way to enable you to have no monthly payments for the first 3 months of the agreement. The balance of the agreement (plus charges) is rolled into the remaining period, the value of the Optional Final Payment removed, and then the remaining amount divided equally across the remaining number of months.

How are the Drive Now Pay Later payments structured?

You can select a repayment term between 18 to 49 months (depending on any PCP offer restrictions). ŠKODA may provide a contribution towards your deposit, plus a payment holiday for the first 3 months.

For a 48 month PCP agreement, this is then followed by 44 equal monthly payments, with the optional final payment (GMFV) due in the final 48th month. Due to the way in which the agreement is calculated and repaid, both the monthly payments and total amount payable (TAP) will be higher via the Drive Now Pay Later plan.

However, ŠKODA believe that the ability to defer the first 3 payments will be of benefit to many customers – hence you are provided with that flexible choice. If you do not wish to defer payments via the Drive Now Pay Later offer, a regular Solutions PCP Agreement will allow you to spread your payments over the full period of the agreement.

When will the first payment be due?

You can still take delivery and have full use of the car from day 1 of the agreement start date. Unless you wish to place an additional deposit on top of the ŠKODA deposit contribution, no payments will be due until month 4 - 3 months after the agreement start date. Your Direct Debit will need to be set up for when the agreement is activated, however no payments will be taken until the 4th month of the agreement.

How is interest charged?

Unless financing on a 0% APR agreement, interest is charged throughout the whole duration of the agreement, including the first three months. Due to the initial delay in monthly payments starting, you will pay more in interest charges over the period of the agreement - affecting the APR – as repayments are technically not spread evenly over the agreement period.

Can you still settle agreements early?

You will be able to settle this PCP agreement at any time - including during the first 3 months where no payments are being taken. When you settle your agreement ŠKODA Financial Services will use the standard settlement calculation with no reduction in capital in the first 3 months and interest being charged from the outset.