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PCP Explained

What is PCP

PCP is a Personal Contract Plan. It is a flexible car finance package that combines lower monthly payments with real flexibility over a 2 - 3 year period. With PCP you can have a flexible finance plan that suits your circumstances. 


How Does PCP Work

At the end of your term you have the following three options


  1.  Upgrade your car to a newer model.

  2. Return your car to your dealer with no further payments (subject to fair wear and tear).

  3. Make a one-off payment or re-finance the final instalment and take ownership of the car.

Under the Personal Contract Plan, Volkswagen Bank Ireland purchases the car on your behalf. You then pay an agreed instalment over 24 - 36 months. A portion of the car's value is deferred until the end of the agreement. 

This amount is the minimum value that Volkswagen Bank Ireland guarantees your car will be worth at the end of your agreement, your Guaranteed Minimum Future Value (GMFV).


What are the benefits?

Lower monthly payments

Flexibility at the end of the agreement to choose between 3 options

Based on the Guaranteed Minimum Future Value you don't need to worry about the re-sale value of your car 

Drive a new car more often thanks to shorter replacement cycles

Afford a new car or a higher specification model and the latest technologies

 Include additional optional products such as Service Plans

Known cash flow based on fixed interest rate and payments

Easy entry based on a minimum deposit of just 10%



 For more information on PCP call into any of our branches to meet our Finance  Managers