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Financing a car (options)

  • 05-02-2018 04:46PM
    #1
    bigguns2
    Registered Users, Registered Users 2 Posts: 56 ✭✭


    Hi, apologies if this is covered already.

    Looking to finance a car.

    What are my (finance) options?
    How much will the deposit be?
    What's difference between PCP + HP?


    I can give a cash deposit upfront and finance the rest, my budget is 16-18K Max, preference would be an MPV.

    Thanks in advance,


Comments

  • #2
    bazz26
    Registered Users, Registered Users 2 Posts: 51,487 ✭✭✭✭bazz26


    Are you buying new or second hand? PCP becomes less attractive when buying second hand.

    PCP: https://www.ccpc.ie/consumers/money/loans/paying-for-your-car/pcp/

    HP: This is just like a regular loan where you borrow the whole amount up front and repay it in monthly installments over a fixed term. The car is secured on the loan meaning it's not your property until you have the last payment made.

    Their is also a number of detailed threads here about PCP so use the search function as it's not suitable for everyone but can be an easy way and cheap way to get into a brand new car. However there are pitfalls if you really cannot afford a new car and people need to be aware of these.


  • #3
    bigguns2
    Registered Users, Registered Users 2 Posts: 56 ✭✭bigguns2


    bazz26 wrote: »
    Are you buying new or second hand? PCP becomes less attractive when buying second hand.

    PCP: https://www.ccpc.ie/consumers/money/loans/paying-for-your-car/pcp/

    HP: This is just like a regular loan where you borrow the whole amount up front and repay it in monthly installments over a fixed term. The car is secured on the loan meaning it's not your property until you have the last payment made.

    Their is also a number of detailed threads here about PCP so use the search function as it's not suitable for everyone but can be an easy way and cheap way to get into a brand new car. However there are pitfalls if you really cannot afford a new car and people need to be aware of these.

    Hi, is like to buy new if possible but it depends on hoe much the repayments are aswell as the deposit needed.


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