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Hire Purchase Explained

Hire Purchase is a really simple, affordable and straightforward route to driving the car of your dreams

 

How does HP work?

With Hire Purchase, Volkwagen Bank Ireland will purchase the car on your behalf. After placing a deposit equal monthly payments over the period of the agreement will be agreed. 

Once all of the payments have been made, you become the owner of the vehicle. By paying the same each month it's easy to stay on budget. 

With a minimum of 10% deposit, we'll organise your fixed monthly payments or you can have an individual tailored plan, spread between 12 months to 5 years. 

With Hire Purchase your budget stays in control and you can relax and enjoy the drive. 

- Choose the vehicle and repayment period that's right for you

- Pay an initial deposit to start the agreement

- The balance is then divided equally depending on the length of term to suit your budget after the final payment you own your vehicle.

- As a branch of Volkswagen Bank GmbH, Volkswagen Bank Ireland as an entity is authorised by the Federal Financial Supervisory Authority in Germany and is regulated by the Central Bank of Ireland for Conduct of Business Rules, which include the general rules within Consumer Protection Code and SME regulations.

 

 

What are the benefits?

Choose from longer payment terms - up to five years

Fixed interest rate for the duration of your agreement

Fixed repayments for ease of cash flow and budgeting

 Flexible terms - any monthly interval between one and five years

Available for new and used cars