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.
FAQs
We believe that the success of Volkswagen Financial Services over the years is largely due to the fact that the heart of our business is founded on a solid relationship with all of our customers.
We know the relationship you have with your financial services provider is one of the most important professional relationships you will ever have. So, we are dedicated to providing you with excellent levels of customer service and incomparable attention and support.
What is vehicle leasing?
Vehicle leasing is a long-term rental agreement that allows you or your company to use a car or van for a set period of time at a fixed monthly price. It is an alternative, and often cheaper, solution to buying a new car or van. Effectively it is the mobility as a service for your business.
Who is lease for?
A lease can be for almost any business and is an incredibly effective way of allowing a business to hold on to its cash while investing in business for the future.
VWFS provides leasing to numerous types of businesses and organisations; sole traders, partnerships, public and private limited companies, associations and organisations, medical, health and educational providers, councils, semi-state institutions, Government bodies and much more.
How long is the lease period?
Our contracts range from 24 to 54 months (two to four and a half years), depending on your needs and budgets.
Shorter contracts mean you are able to change your vehicle more often, while longer contracts will generally mean cheaper monthly payments.
What is included in my contract for my fixed monthly payment?
All of our lease contracts include the following:
- Road tax & NCT
- Driver and Fleet Manager Support
- Same Brand Courtesy Vehicle
- Premium Showroom Experience
Optionally:
- Full Vehicle Maintenance
- Replacement Premium Quality Tyres
- Toll Tags
- Fuel Cards
How will tax operate on my leased vehicle
| HP | PCP | Leasing | |
|---|---|---|---|
|
BIK (Income tax on a % on the OMSP of a company car) |
| ||
|
VAT Timing is the only difference |
| ||
| VAT on HP / PCP is reclaimable upfront | VAT on Leasing is reclaimable monthly | ||
| HP | PCP | Leasing | |
|---|---|---|---|
| Depreciation |
| No Depreciation for Leasing. It is covered in your monthly payments. | |
| Balance Sheet + P&L |
|
| |
What isn't included in my contract?
The following features are not included
- Vehicle insurance
- Damage outside of fair wear and tear – Fair Wear and Tear Guide
Who is responsible for insuring the leased vehicle?
- You are responsible for arranging your own insurance on the vehicle. This must be a fully comprehensive insurance policy.
- For business lease agreements, the insurance certificate should be in the company name or a director's name.
- Please note that for lease agreements, VWFS is the registered owner and keeper of the vehicle.
What is the initial rental?
- Lease agreements are usually shown as “1+” or “3+” payments. This means an initial payment of 1 or 3 payments in advance at the start of the contract. This does not mean you pay any more and is certainly not a deposit.
- What does it mean on a 3 year lease for example:
- 1+35 means you pay your first month in advance and 35 more payments to operate the vehicle for 3 years. Meaning you pay nothing in the last month but still operate the vehicle as usual.
- 3+33 means you pay your first 3 months in advance and 33 more payments to operate the vehicle for 3 years. Meaning you pay nothing in the last 3 months but still operate the vehicle as usual.
When is the initial rental and monthly payments taken?
- The initial rental is usually taken on the next business day following delivery of the vehicle.
- The monthly payments are taken every month in advance on the first business day of the month.
Who supplies the vehicle I will be leasing?
All vehicles leased through VWFS are supplied through the VW Group main dealer network.
Do vehicles have a warranty?
Yes, all our vehicles come with the full manufacturer’s warranty. The length of time this warranty covers will depend on the manufacturer.
What milleage should I choose?
- Mileage is one of the major factors in defining how much your leasing plan will cost. If you exceed your chosen mileage, you will be required to pay an extra amount, calculated based on how many additional kilometres you have done. Therefore it is important to choose a mileage allowance that reflects your driving needs.
- If you’re confident that your driving needs are likely to remain unchanged from the previous few years, use this as a guide to what mileage you may need going forward.
- Alternatively, take a measurement of how many kilometres you do in an average month and multiply it by 12. Bear in mind any seasonal differences in your driving behaviour that might happen from year to year to make your estimation as accurate as possible.
Do VWFS check my credit history?
- Yes. As part of the leasing application process, a finance application will be submitted.
- This is to ascertain as your ability to make regular payments on time and any other debts you may have and make sure the lease you are requesting is comfortably affordable for you and your business.
Can I test drive the vehicle before I order?
One of the many benefits of leasing with VWFS is we are an integral part of VW Group and as your vehicle will be supplied by your local dealer they will be more than happy to support you in choosing and test driving the right vehicle for you.
How will my vehicle be delivered?
Your new vehicle will be delivered with a full professional handover from your local Main Dealer with all the expertise you could ask for to make sure you get the best from your new vehicle from day 1.
Who is the registered owner and keeper of the vehicle?
VWFS is the registered owner and keeper of the vehicle and will hold the tax book for the duration of the contract.
What happens when I need a vehicle serviced or repaired?
- If you included a maintenance package in your agreement, you can either contact VWFS driver support to book a service for you or you can contact a main dealer of your choice and book your vehicle in, telling the car is leased with VWFS, they will be happy to take care of it for you. The costs are then billed directly to VWFS as part of your maintenance contract and you have nothing more to do than enjoy driving your freshly serviced car.
- If you have chosen not to have a maintenance package and your vehicle needs repair, you must go to a local main dealer and use only approved parts.
- Details can be found in the Driver and Fleet Manager Guide
What if I need a replacement vehicle?
This can be arranged by letting the dealer who is servicing or repairing your leased vehicle that you need a replacement vehicle.
What happens if I exceed the agreed mileage on the lease contract?
- Any time up to 6 months from the end of your contract you can restructure it, changing duration and mileage. This will result in the outstanding payments changing to reflect your new needs.
- If you choose not to adjust your contract and still go over mileage any mileage over the agreed amount is charged at the excess mileage rate per Kilometre. As an example, if the excess stated in your agreement is 5c per kilometre, and you exceeded your mileage allowance by 1,000 kilometres, you would be charged €50.
Can I renegotiate aspects of my lease?
Any time up to 6 months from the end of your contract you can restructure it, changing duration and mileage. This will result in the outstanding payments changing to reflect your new needs.
Can I customise or modify my lease vehicle?
If you require any additional accessories fitted to your vehicle, such as a tow bar, please request this at point of order as they can be included in your lease.
Before making any changes to your vehicle, please speak to VWFS. Permission and restrictions will depend on the modification in question whether it is reversible, whether it will impact the long term value of the vehicle, manufacturer restrictions and your those of insurance provider.
What happens at the end of my vehicle agreement?
Approximately 4 months prior to the end of your contract, your dealer will contact you to discuss your replacement options. Depending on your needs at this time you can arrange your new vehicle as a replacement, hand the vehicle back, extend the contract.
When the vehicle is returned, a full impartial inspection is conducted by a third party provider and sent to VWFS outlining the condition of the vehicle and any items of damage that are outside fair wear and tear. This cost is then communicated to the customer with the details of the damage to be repaired outlined. This cost is then collected from the customer at the contract end.
Who owns the vehicle at the end of the contract?
VWFS own the vehicle at the end of the contract.
What level of wear and tear is acceptable?
If you are returning your vehicle at the end of your leasing agreement, you must do so with no more than ‘normal’ wear and tear. For more information on wear and tear, see our Fair Wear and Tear Guide.
Can I terminate my agreement early?
Early termination is possible. If you wish to leave your contract early please contact VWFS to discuss your options and costs.
Does leasing a vehicle have any restrictions on driving abroad?
VWFS Ireland Leases allow free use of the vehicle in the Republic of Ireland. Use in Northern Ireland for up to 30 days per year is permitted without written permission. Use of the vehicle in the UK or other EU countries are permitted with written permission from VWFS.
Do you offer a part trade in facility where I can trade in my current vehicle?
Trade ins can be used as advance payments towards your lease or as cash release for your business when you go into a lease vehicle. This will be subject to agreement with your dealer.
How can I lease a vehicle or fleet of vehicles from Volkswagen Financial Services?
All of our authorised Volkswagen, Audi, SEAT, ŠKODA and Volkswagen Commercial Vehicle dealerships will be able to provide you with a tailored leasing quotation to suit your business needs.
Please find your local dealer here:
How can I change my Direct Debit payment date?
You can call our Customer Care team who will be happy to assist with this change over the phone.
* fee may apply
Who is Volkswagen Financial Services?
How do I contact Volkswagen Financial Services?
Please contact us by phone, fax or email.
Customer Support phone: +353 (0)1 654 6249
leasequery@vwfs.com
What are Volkswagen Financial Services opening hours?
Our opening hours are as follows:
9am to 5:30pm Monday to Friday
(Excluding Bank holidays and public holidays)
What products does Volkswagen Financial Services Offer?
Vehicle Finance Options
Hire Purchase
Hire Purchase is a really simple, affordable and straightforward route to ownership, whether you are buying a new or used car. With Hire Purchase you can finance your car over a period of time that you choose between 1 to 5 years.
Leasing
You can build your fleet to meet your needs through our range of Audi, Volkswagen, Volkwagen Commerical Vehicles, SEAT and ŠKODA models.
How can I change my address held on file at Volkswagen Financial Services?
Please write to us detailing the address change and reference your contract details with us. Please ensure that all correspondence is signed by the account holder.
How do I exercise my right under Data Protection laws?
To exercise your rights under Data Protection laws, please complete the Data Rights Request Form attached below and return to us marked for attention of the Customer Care department. Once received, we will review the request and take the required actions. (Please note we will need to discuss your request via a phone call to validate the request. This may be either before or after completion of the Data Rights Request Form)
How do I complete the Data Rights Request Form?
• Please print the attached PDF Data Rights Request Form below
• Complete all sections (A and B) in block capitals
• You will be required to fill in your name, address and telephone (this must be the details of the Data Subject making the request)
• You will need to outline which right(s) within GDPR Articles 15-22 you are invoking, including any relevant information to assist us
• Please ensure that you sign and date the form
What is SEPA?
In Febuary 2014, the Single Euro Payments Area (SEPA for short) took effect in Ireland. SEPA will standardise euro payments across Europe and make it easier to pay for goods and services and to transfer and receive money.
What does it mean?
Your Bank Account Number and Sort Code has been replaced with an International Bank Account Number (IBAN) and Bank Identifier Code (BIC). But don't worry - we do not require that you take any action - we have amended your details which we currently hold, accordingly.
Volkswagen Bank GmbH Branch Ireland made the switch to SEPA on 25/11/2013. Volkswagen Financial Services Ireland Limited will continue to use SEPA.
If you have any queries about SEPA and how it will affect your account with Volkswagen Financial Services Ireland Limited, you can contact us directly.
How do I change my SEPA Direct Debit account details held on file at Volkswagen Financial Services?
To complete a change to current bank account information held on file at Volkswagen Financial Services please download and complete the SEPA Direct Debit Mandate form attached below the FAQ section and return to us marked for attention of the Customer Care department. Once received, we will amend your bank account details on file for future monthly direct debit payments. (Please note there may be an overlap due to the billing schedule of your loan agreement)
How do I complete the SEPA Direct Debit mandate form?
• Please print the attached PDF SEPA Direct Debit mandate form below
• Complete all sections with an asterisk symbol in block capitals
• You will be required to fill in your Name and Address (this must be the name and address of the finance agreement holder or joint finance agreement holders)
• Please ensure that you fill your customer agreement number on the top left hand side of the SEPA Direct Debit mandate form. You can find your customer agreement number on any correspondence that you have received from Volkswagen Financial Services.
• Please add your full bank account number (IBAN) and Swift BIC (what is my IBAN and BIC) An IBAN (International Bank Account Number) is used internationally to uniquely identify the sort code and account number of a customer at a financial institution. You can find your BIC & IBAN information from your own Bank or alternatively the Irish Payment Services Organisation (IPSO) website provides a BIC & IBAN conversion tool which will convert any domestic National Sort Code (NSC) and Account Number to its equivalent BIC & IBAN Click Here
• Please ensure the "date signed" and "place signed" fields are completed on the form
• Note that all payments are recurrent where there is more than one payment left on the agreement
• Finally please ensure that the mandate form is signed by the account holder/holders as named at the top of the form and on the Volkswagen Financial Services agreement.
How can I make a complaint?
Complaints process
With Volkswagen Financial Services Customer Support you receive instant access to a range of services:
- Breakdown and recovery services
- Accident and damage reporting
- Service booking or maintenance enquiry management
- Tyres
- Glass repair
We believe that the success of Volkswagen Financial Services is largely due to the fact that the heart of our business is founded on a solid relationship with all of our customers.
Volkswagen Financial Services Ireland is committed to providing courteous and professional customer care at all times and ensuring our customers are treated fairly.
If our customers think we may have made a mistake or feel that we have not met their expectations, we want to know so that we can investigate the matter.
All comments are treated seriously and we endeavour to resolve any concerns promptly and fairly.
Our promise
We will handle all complaints in a fair, courteous, and prompt manner. We will record and investigate all complaints internally. We will aim to resolve the issue for our customers and ensure that the issue does not happen again.
How can I make a complaint?
Call us on our Customer Support Helpdesk at: 353 (0) 1 645 6249
Email us at: leasequery@vwfs.com
Write to us at:
Volkswagen Financial Services Ireland Limited
Block C
Liffey Valley Office Campus
Liffey Valley
Dublin 22
Ireland D22CF60
What happens next?
Where possible we aim to resolve all issues on the phone.
If this does not happen in your case and we need to investigate further and will aim to close the complaint in full as soon as possible
Our Bank Details
Our Bank Details
If you would like to transfer funds to our account please reference your Lease Agreement number so that we can correctly apply the funds to your account.
Bank Details
Bank Account: Volkswagen Financial Services Ireland Ltd
Bank Address: Bank Of Ireland, 2 College Green, Dublin 2
BIC: BOFIIE2D
IBAN: IE47BOFI90001736329342
If you need to change your bank account information held on file at Volkswagen Financial Services, please download the below SEPA Direct Debit Mandate Form.