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.
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. ​

How does PCP actually work?​

You’ve probably heard about a Personal Contract Plan – or PCP – but might not be sure exactly what it entails. Well, its very easy. Once you have selected the perfect vehicle for you, you pay a minimum of 10 per cent of the purchase price with cash, trade-in or a combination of both and pay the fixed monthly amount over three years.

What are the advantages of PCP?

PCP is a great way to get the car you want and gives you a clear plan for your driving future, safe in the knowledge that you don’t have to worry about depreciation as you have a guaranteed future value of your vehicle – plus you can get a brand new car in three years time.

What should you consider when option for a PCP?

​A guaranteed future value is set for your car and a fixed monthly payment is arranged and paid over three years

Can I settle my PCP agreement early?

Yes, after three years you can decide to return the car to us with no further repayment, buy the car out or part exchange your car for a brand new one.

How does HP actually work?​

Once you’ve chosen the perfect vehicle for you, and you are sure this is the car you want to own outright, then Hire Purchase could be the finance solution for you. You pay a deposit, depending on the car model you choose and spilt the remaining price into monthly payments over one to five years.


What are the advantages of HP?

​Once you make the final payment, the car is all yours.

What should you consider when option for a HP?

You do not own the car until the final payment is made.

Can I settle my HP agreement early?

Yes you can pay the remaining balance owed before the three or five year term is complete. 

Your Vehicle Protection

At Connolly's we want to ensure you get the most out of your vehicle, that's why we offer a safe and reliable protection plans for your new car.

GAP

Guaranteed Auto Protection

Reimburse a car owner when the payment for a total loss is less than the outstanding load or lease balance

CRI

Cosmetic Repair Insurance

Covers you for superficial damage to your vehicle, paying out to fix things like scratches and dents without jeopardising your no claims bonus

Extended Warranty

Protecting You

This is an extended insurance policy on your vehicle, to protect you from unforeseen repairs for an agreed upon period of time and kilometres

Protection Pack

Maintenance

Supagard paint and fabric protection protection products are guaranteed to maintain your cars appearance for a minimum of three years

Apply for Finance

Applying for finance could not be easier with Connolly Motor Group. Simply fill in our Finance Enquiry Form here and one of our specialists business managers from our branches in Ballina, Sligo or Galway will contact you to discuss your options.

Find Out More Finance Options and How They Work
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Main Headline Lorem Ipsum Paragraph Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s.
Main Headline Lorem Ipsum Paragraph Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s.
Main Headline Lorem Ipsum Paragraph Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s.
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