At the end of your contract?

If you are coming to the end of a PCP contract you can choose from a number of different options depending on what suits you best.

Upgrade my current vehicle to a new model with similar monthly payments.

At the end of your PCP contract you can upgrade your vehicle for a new model, based on the GMFV, deposit and additional equity of your current contract.

We offer a range of options to help you decide what’s best for you.

Find out what‘s best for you.

Use the MyPCP Calculator to see which option is best for you. The calculator works for any make or model!

Keep my current vehicle and make the final payment on my current PCP.

At the end of your PCP contract you can make a final payment to your dealer and keep your car or your dealer will be able to provide a financial option for you.

Consider the below when choosing this option –

1

It’s your choice

You can decide to keep the car so make sure the decision suits your current circumstances. It is possible to refinance the GMFV that is outstanding. In order to gain full ownership you will need to pay the optional final payment (GMFV) due on your PCP agreement.

2

Settlement Figure

Check you outstanding GMFV amount to see what the final payment on your vehicle is. This is on your original agreement but you can contact your PCP provider to check this if required.

3

Refinance

Your current bank may be able to help you fund the outstanding amount of your GMFV if your payments are all up to date. Shop around and check online for the best APR. Generally speaking motor assets finance is cheaper than personal loans. Useful link below to compare interest rates:
www.ccpc.ie

4

Get a Free Vehicle Health Check

Your NCT could be 12 months away. A vehicle health check is a quick way to identify any potential issues that may arise. One of our Renault dealers would be happy to help.

5

What is your car worth?

It can be interesting for you to check what the perceived value of the car is versus your outstanding GMFV amount.

5 important steps to consider when you want to return your car.

At the end of your PCP contract you can hand the keys back with no commitment.

Consider the below when choosing this option.

1

Mileage

It may seem obvious but check your mileage before handing the car back. There may be a penalty for going over the agreed mileage on your original PCP contract. This is typically between €0.06 €0.10 per KM but you should check to prevent any surprises. In addition, search online for similar cars to see the perceived value of your car before you hand it back. You may be able to get a better price for the car.

2

Excess Wear & Tear

It is important to check the car before you return it for any damage as the dealer will check it for damage when you hand it back. Normal wear and tear is usually acceptable, but the car needs to be in a sale-able condition, which means you'll likely be asked to pay to put right excess damage like large scratches or dents in the bodywork.

3

Outstanding GMFV Amount

Check the GMFV amount that is owed on your PCP agreement. This is not required but it would help you to understand what it is versus what the perceived value of your car is.
You may want to see what your car is worth so make sure you have all the information to make an informed decision.

4

Notify your dealer

If you don’t notify the dealer then the GMFV payment could be taken from your bank account. As this is a large sum of money it is essential that they are informed about the return of the car in order for them to make the payment on your behalf. The dealer will ultimately have to sell the car so letting them know in advance enables them to plan to retail the car. 90 days’ notice is be fair but no less than 30 days as the final payment for your GMFV needs to be arranged.

5

Check with your Bank

Final step is to check with your bank to ensure that they do not debit the GMFV amount from your bank account. If you have contacted the dealer to let them know and arranged for a date to return the car then this should be fine.

Find out what‘s best for you.

Use the MyPCP Calculator to see which option is best for you. The calculator works for any make or model!

What is a PCP and how does it work?

Learn more about how a Personal Contract Plan can work for you.

Coming to the end of a PCP agreement?

Find out about your options at the end of your contract.

Myths & FAQs about PCP

Some helpful information to answer your questions and dispel any PCP myths!