There are three key factors to be considered when you contemplate purchasing your vehicle on a PCP finance plan. These factors not only dictate what your monthly repayment rate is but will also influence the decisions you make when the agreed PCP term expires.
The value of your deposit whether that be a cash part payment, a trade in vehicle or an agreed mix of both will determine your monthly repayment rate. Bear in mind that the higher your deposit on the first PCP purchase the lower your monthly repayment rate will be. However, the nature of PCP products is that they not only influence the terms of your first purchase but also have a bearing on the actions you take when the agreement expires.
Guaranteed Minimum Future Value (GMFV).
A benefit of a PCP plan is that we provide you with a GMFV for your vehicle, subject to certain conditions, pertaining to the vehicle at the end of the Finance term. The GMFV is calculated around an agreed maximum annual mileage figure, the higher the annual mileage the greater the impact on the GMFV. Exceeding the agreed mileage will impact on the GMFV. Also, another caveat relates to the condition of the vehicle when it is returned at the end of term as the future valuation assumes the vehicle being returned in good condition for a vehicle of its age and undamaged.
Months before your contract expires, we will contact you to determine how you wish to proceed with your PCP contract when it reaches its expiry date. There are three options to choose from.
Hire Purchase is suitable for both personal and business customers, simply choose the deposit you want to put down and the period you’d like to pay over and we will work out a monthly repayment to suit your budget.
As the finance amount is spread over the term of the agreement, your monthly repayment will be fixed for the duration of the contract allowing for effective budgeting. At the end of the contract, once you’ve made all your repayments, simply pay the ‘option to purchase’ fee and ownership transfers to you without an additional large final payment.
This is an increasingly popular, cost-effective, and straightforward finance plan. It offers you all the benefits of vehicle use without some of the associated risks of ownership. You start by paying an initial rental. Your monthly payments are fixed and based on an agreed lease period and mileage. At the end of your agreement, you simply hand the vehicle back, with nothing more to pay – as long as you haven’t exceeded your mileage and the condition is satisfactory.
If you have built up a deposit to finance part of the cost, this will be reflected in your monthly payments. Your chosen agreement length also affects this. The plan is designed to be a really simple way of spreading the cost of your car.Apply for Finance
With Hire Purchase you pay for the car in a series of monthly payments. At the end of the term, after all payments and the option to purchase fee is made you take full ownership of the vehicle.
Pay for a vehicle in full via our simple and secure checkout using your credit or debit card. You will have a chance to value your current vehicle should you have one, and choose how to receive your new vehicle.
Dundrum Road, Dundrum,
Co. Dublin D14 CD00