At Paschal Kennedy Motors we have a range of finance packages which, in conjunction with Bank of Ireland Finance, we can design for you in order to meet your individual needs when purchasing a New or Pre-Owned car including Consumer Hire Purchase or Personal Contract Plan options. We can offer very competitive rates for straight purchase finance deals with repayments which are fixed over the term of the contract.
Please do not hesitate to contact us by email: email@example.com or call any of our sales team at (01) 2809966 who will be only too pleased to discuss the relevant details of any of the above options available to you.
Two popular car finance options are Consumer Hire Purchase and Personal Contract Plan
1. Consumer Hire Purchase (HP):
Hire Purchase is the most popular method of getting the car you want. Once you have decided which model and specification you would like, you decide on the deposit you wish to pay and the term over which you want to spread your repayments and you are proposed for Finance. Once accepted for Finance, you simply make regular fixed repayments over the agreed period. Capital and interest charges are included in your repayments and at the end of the period the car is yours to keep.
As the interest rate is set at the beginning of the agreement, your repayments are fixed and so you know exactly how much you have to pay each month, making budgeting that much easier. A variety of repayment periods are available to a maximum of 61 months.
Consumer Hire Purchase can be used to finance both new and used vehicles (normally less than 5 years old).
Personal Contract Plan (PCP):
Another option is Personal Contract Options (PCP). This is a flexible Hire Purchase agreement that defers part of the purchase cost to the end of the agreement. Through doing this we are able to offer lower monthly payments which provide you with three options at the end of the agreement.
You can decide to keep the car by paying the agreed minimum valuation (GMFV - Guaranteed Minimum Future Value). You can select another new car by taking out a further PCP agreement. The existing agreement will be settled when you trade-in the car for replacement, the remaining equity can be put toward a deposit on the replacement, giving you the benefit of driving a new model every three years. You can return the car to us without incurring any further costs, subject to mileage and condition.
Consumer Hire Purchase and Personal Contract Plan are agreements regulated by the Consumer Credit Act 1995.
Warning: You will not own these goods until the final payment is made.
Paschal Kennedy Motors is regulated by the Central Bank of Ireland in the provision of consumer related Finance Products