Personal Contract Plan

As with all Hire Purchase Agreements, the ownership remains with Volkswagen Financial Services Ireland legally until the final monthly payment of the agreement is made. However, the vehicle is registered in the customer’s name.

The customer is free to settle their PCP finance agreement and take ownership of the vehicle at any time. However, an early settlement fee of up to a maximum of three months interest may be applied in this case. Additionally, the customer can part-exchange their vehicle for a new vehicle at any time and, at the same time, upgrade their PCP finance agreement.

Our PCP product is based on the future value of the car. That value is determined by the wear and tear on the car and calculated on the basis of a maximum mileage (or kilometre) usage. As part of the end of contract conditions, an excess charge applies where that usage is exceeded but only if you wish to handback the vehicle to Volkswagen Financial Services and not in cases when you wish to avail of the option to sell or trade in the vehicle. The excess mileage (kilometre) charges vary from brand to brand however the average charge is 6 cent per km. 

In order to finance a car under a New PCP contract, the car must not have been registered yet. Used PCP finance contracts are only available for vehicles that will be less than 6 years old at the end of the contract. Thus, the oldest a car can be to avail of this finance offering is 4 years old, under a 24 month agreement.

NCT’s are included for new cars only under PCP. Used cars will have to cover this cost independently.