Car News recent articles in category Finance
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Buying a Used Car With Outstanding Finance
Buying a used car can be an exciting undertaking, but it's important to be aware of the risks that come with it., particularly if you are inexperienced or unfamiliar with car buying. One of the most significant risks when buying a used car in Ireland is purchasing a car that still has unpaid finance. Here are just some of the...
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Irish Electric Car Sales On The Increase
EV Sales So far this year, in the first quarter, there has been as many electric cars sold than in the whole of 2018. Industry figures have revealed that 330 new electric car were registered in Ireland during the month of February, compared to just 72 in the same month last year. So far this year, 1,129 electric cars have...
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Are PCP’s as bad as some are making out? | PCP Car Deals - MyVehicle
Personal Contract Plans When considering financing a new car, you may have considered a PCP Personal Contract Plan? When weighing up all your options PCP’s can sound a good idea and they can be for some but it is necessary to consider all options that are right for you. There has been some negative media focus on PCP Finance recently...
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Over 1 in 10 have bought a vehicle with PCP
Statistics are revealing that over 1 in 10 people have bought a car with PCP (Personal Contract Plan). Áine Carroll of the CCPC (Competition and Consumer Protection Commision) has cautioned that PCPs aren’t as affordable as they would seem. Buying a car at the best of times can be a tricky and sometimes stressful process to say the...
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The Competition and Consumer Protection Commission launches car purchase study into PCP car finance products
The Competition and Consumer Protection Commission (CCPC) is the independent statutory body that enforces the competition and consumer protection laws in Ireland. The latest target of the Commission are the ‘complex’ PCP (Personal Contract Plans) deals which consumers are purchasing from car dealers. This investigation come hot on the tail of last weeks raid on major companies in the insurance...
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Concern over scale of unregulated finance for new cars
Concern over scale of unregulated finance for new cars One in three new car buyers in Ireland is using a form of finance that is entirely unregulated. The Competition and Consumer Protection Commission authorities say they have concerns about the lack of regulation of personal contract plans (PCPs). The Commission have “raised the issue of further regulation” with the Department...
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Irish car dealers unprepared for slump in diesels
Irish car dealers unprepared for slump in diesels The drop in diesel car sales in the UK could have a major impact on car values in Ireland. There was an 8.5 per cent drop in car sales in the UK in May, compared to the same month last year and diesel car sales have been hit the hardest with a...
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Up to 70% of new cars bought on 'unregulated' PCP's
Up to 70% of new cars bought on 'unregulated' PCP's The Dáil has heard that almost three-quarters of new cars in Ireland have been purchased on ‘unregulated’ PCP’s (Personal Contract Plans). Fianna Fáil TD Thomas Byrne has informed the Dáil that as many as 70% of new car sales are being bought under PCP agreements. Mr Byrne raised the issue...
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Toyota in Ireland may establish their own private bank
The Toyota Motor Group is believed to be in the process of establishing its own bank in Ireland so it can provide car finance directly to customers but they are not talking. If the rumours are true, it would mean that Toyota would join a growing list of car manufacturers who are setting up private banks in Ireland, including Volkswagen....
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The UK car finance market could be facing a potential mis-selling scandal
The UK car finance market could be facing a potential mis-selling scandal The UK’s £40 billion car finance industry could very well be heading towards what's being described as a mis-selling scandal. Here is growing concern that lenders are rushing buyers into deals they may not be able to pay back. The Financial Conduct Authority (FCA) in the UK which...
