Hire Purchase

Hire purchase is an agreement whereby a person hires goods for a period of time by paying instalments, and can own the goods at the end of the agreement if all instalments are paid. Hire purchase agreements usually last between two and five years, the most common last three years. Under a hire purchase agreement, the consumer does not actually own the goods until the last installment is paid, although he or she has full use of the goods throughout the repayment period.

5.9% APR available on all New Volkswagens

4.9% APR available on New Volkswagen Polo registered in Febuary 2011

Volkswagen Bank Solutions & Audi PCP

Volkswagen Bank Solutions & PCP gives you flexible finance options and the convenience of a guaranteed future value of your new vehicle.

This personal contract plan is based on a hire purchase agreement with a difference. At the end of your contract you may choose to change your Volkswagen or Audi for a brand new model, keep it or simply return it to your dealer.

You pay a small deposit (as little as 10% of the purchase price) and benefit from attractively low monthly instalments and a guaranteed future value of your new Volkswagen or Audi.

So, whether you want to drive the latest and safest model, upgrade regularly or simply keep your new car, Volkswagen Bank Solutions makes your money go further.

How Solutions works

• Receive a guaranteed future value for your new Volkswagen or Audi, defered until the end of the agreement; this will make your monthly repayments lower

• Pay a deposit made up of part exchange or cash – as little as 10%

• At the end of your repayment term you have three choices:

1. Part-exchange the car for a brand new Volkswagen

2. Pay off the optional final payment so you own the car (or refinance, subject to credit approval)

3. Return the car to your dealer and pay nothing more (subject to acceptable vehicle condition)

Example below:

Polo Trendline 1.2 60 BHP - € 169 per month

Contract Hire Business Users

This payment plan, exclusive to Business Users, effectively allows you to 'hire' vehicles as opposed to owning them. This way, drivers need not be concerned about issues such as residual values or selling the vehicle when the finance term is up.

A contract hire agreement can run over one, two, three or four years.

If you are a VAT registered business a proportion of the rentals may be tax deductible. Contract hire is classified as an operating lease for current taxation purposes, therefore it is regarded differently to 'purchase' contracts so you may benefit from certain tax advantages. Your financial or tax advisor should be able to advise you if this applies.

Example:

Audi A4 2.0 Tdi 120bhp

From €515.99 per month

Period of Rental 48 months

Please contact our Business Manager Margaret on 029 60100 or email margaret.barrett@newmarketmotors.ie

Click here to apply online