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A Personal Contract Plan (PCP) is a type of hire purchase agreement.
This car finance package offers lower monthly payments over a three-year term compared to a traditional Hire Purchase agreement for the same period of time. PCP provides a flexible financing solution tailored to your needs. With a Guaranteed Minimum Future Value (GMFV), you don't need to worry about the vehicle's resale value, depreciation, or costs like NCT fees associated with owning a car for over a long period of time.
How does PCP work?
Under Volkswagen Financial Services industry leading PCP product, Volkswagen Financial Services Ireland purchases the car on your behalf. You choose a deposit percentage between 10% and 31% depending on the type of car. Then you pay an agreed monthly instalment over the agreed term of 37 months. A portion of the car's value is deferred until the end of the agreement (37th payment). This amount is the minimum value that Volkswagen Financial Services Ireland guarantees the car will be worth at the end of the agreement, also known as the Guaranteed Minimum Future Value (GMFV).
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