Finance Information
At Enniscorthy Motor Company we have trained finance specialists who pride themselves in offering outstanding customer service and assisting customers in finding the right funding solution to suit their pocket and individual circumstances. With clear agreements and competitive finance packages available to suit your needs, we’re confident we can help you get something special on your driveway.
Finding the right purchasing agreement is as important as selecting the right vehicle.
With this in mind, we have designed several attractive finance packages to make things that much easier.
What is Personal Contract Purchase (PCP)?
Personal Contract Purchase (PCP) is a finance product that allows you the opportunity to buy a new or a used car.
It is similar to a Hire Purchase agreement as you will usually pay an initial deposit, followed by monthly instalments over a term typically between 18 to 48 months.
What makes PCP different to Hire Purchase (HP) is that your monthly instalments are paying off the depreciation of the car, and not its entire value, over the course of the term. Then, when you get to the end of your agreement, there is a final, balloon payment that must be made if you want to keep the car. The balloon payment is often referred to also as the Guaranteed Future Value (GFV).
What is Hire Purchase (HP)?
Hire Purchase is a way to finance buying a new or used car. You will normally pay an initial deposit and will pay off the entire value of the car in monthly instalments. When all the payments are made, the Hire Purchase agreement ends, and you own the car outright.
Find out more about finance by getting in touch with us:
053-9252100
