At Lyons of Limerick we have trained finance specialists within all of our dealerships who pride themselves in offering outstanding customer service and assisting customers in finding the right funding solution to suit their pocket and individual circumstances. With clear agreements and competitive finance packages available to suit your needs, we're confident we can help you get something special on your driveway.
Finding the right purchasing agreement is as important as selecting the right vehicle.
With this in mind, we have designed a number of attractive finance packages to make things that much easier.
Purchase is a way to finance buying a new or used car. You will
normally pay an initial deposit and will pay off the entire value of the
car in monthly instalments. When all the payments are made, the Hire
Purchase agreement ends, and you own the car outright.
The short answer is yes, you can end your finance early. There are different provisions within each finance agreement that allows you to do just that. If you have got through two-thirds of the way through your finance agreement, the options to end the finance agreement early open up.
For a Hire Purchase agreement, there is an option of paying it off early through a settlement fee. A settlement fee covers the cost of any remaining unpaid instalments and interest payments remaining on the agreement. Once the settlement fee is paid, you take full ownership of the car early.
Under a Personal Contract Purchase agreement, you can also pay a settlement fee for bringing the agreement to an end early. After that, you can choose to hand the car back or you have a second option. Through a PCP agreement, you can take full ownership of the car by paying off the remaining Guaranteed Minimum Future Value also known as a balloon payment.