What is PCP
PCP is a Personal Contract Plan. This is available for new Volkswagen Commercial Vehicles. It is a flexible 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. Thanks to a Guaranteed Minimum Future Value, you don’t need to worry about the re-sale value of your van at the end of your agreement, depreciation or the maintenance costs associated with owning a van for over a longer period of time.
Under the Volkswagen Solutions Personal Contract Plan, Volkswagen Financial Services Ireland purchases the vehicle on your behalf. You choose a deposit of up to 33% of the vehicle price. You then pay an agreed monthly instalment over 24/36 months. A portion of the vehicle’s value is deferred until the end of the agreement. This amount is the minimum value that Volkswagen Financial Services Ireland guarantees your van will be worth at the end of your agreement, your Guaranteed Minimum Future Value (GMFV).
At the end of 3 years you have following three options
- Upgrade your van to a newer model using the equity in your van as a deposit for the next one
- Return your van to you dealer with no further payments †
- Make a one-off payment or re-finance the final instalment and take ownership of the van.
Benefits of PCP
- No more residual value worries
- A new Volkswagen vehicle every 3 years
- Lower payments and shorter terms
- Less maintenance costs
- Upgrade to a higher specification model for less