What is a Personal Consumer?
A Personal Consumer is someone who purchases goods and services for their own personal use. Car Finance for Personal Consumers is provided by way of a Personal Hire Purchase Agreement. Finance is available for both New and Used vehicles over any period between 12 and 61 months depending on the age of the particular vehicle. When all monthly payments have been paid, ownership of the vehicle will transfer to the customer upon payment of a Completion Fee. This Completion Fee will be collected by direct debit with the last monthly payment.
A Personal Consumer typically seeks finance options that offer flexibility and affordability to suit their lifestyle and budget. Personal Hire Purchase Agreements are designed to make vehicle ownership more accessible, allowing customers to spread the cost over a period that works best for them. This structured approach to financing helps Personal Consumers manage their finances more effectively while enjoying the benefits of driving a new or used vehicle. With transparent terms and a straightforward repayment process, Personal Hire Purchase Agreements give consumers peace of mind and confidence in their purchase.
A) Personal Hire Purchase
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Some key features of our standard Personal Hire Purchase Agreement are as follows:
• Fixed Term - 12 to 61 months depending on vehicle age
• Payments are fixed for the duration of the period
• Deposit required can range from 10% to 25%. This can be in the form of cash and / or trade in
• Customer must be aged 18 or over and resident in the Republic of Ireland
• Be employed or retired with a suitable income capable of making the monthly repayments
• Have a bank account suitable for direct debit payments
• Finance amounts available for €4,000 and higher, subject to normal credit criteria
• To establish suitability, applicants will be subject to a credit search with the Central Credit Register
• Vehicle must be sourced from an approved SIMI / franchised motor dealer in the Republic of Ireland
B) Simplicity
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Simplicity is a Personal Consumer Hire Purchase Agreement consisting of 24 / 36 / 48 monthly payments followed by a Final Payment. A deposit is required - typically ranging from 10% to 30%. The Final Payment will be calculated to best ensure that there is sufficient equity in the vehicle when the customer goes to upgrade in 3 to 4 years times. There are no wear and tear or mileage clauses applicable thus giving the customer total flexibility. Simplicity is available on brand new cars and on used cars up to 18 months old. Customer has 3 options at the end of the Agreement -
(i) Keep vehicle and pay the Final Payment amount
(ii) Keep vehicle and refinance the Final Payment amount over a further 24 or 36 months at the prevailing interest rate
(iii) Trade in vehicle, use equity to buy again
Further details are available from First Citizen Finance staff or from any of our approved SIMI or authorised motor dealers in the Republic of Ireland.
C) Personal Contract Plan (PCP)
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Our PCP offers flexible finance options for new and used passenger cars, with terms of 2 or 3 years. You can drive a car that’s up to three years old with a minimum deposit of 10% and a maximum loan-to-value of 90%. At the end of the term, you can choose to make a Guaranteed Minimum Future Value (GMFV) payment, trade in, or return the vehicle. PCP is designed exclusively for consumers, not for commercial use such as taxis. Discover a smarter way to drive with First Citizen Finance.
Further details are available from First Citizen Finance staff or from any of our approved SIMI or authorised motor dealers in the Republic of Ireland.
Typical Example:
This is a Hire Purchase Agreement as defined by the Consumer Credit Act 1995. Lending terms and conditions apply. Applicants must be 18 years of age or over. A joint hirer may be required. Calls may be recorded. Example: New / Used Vehicle: Typical APR 9.9% Fixed (subject to change). Cash Price €22,250. Deposit / Trade In €2,250. Finance Amount €20,000. 48 Monthly Instalments of €499.51. Hire Purchase Price €26.351.48. Documentation Fee of €75 and Completion Fee of €50 applies. A minimum deposit of 10% may be required. First Citizen Finance DAC is regulated by the Central Bank of Ireland.
(For any finance amount less than €10,000 or any term shorter than 36 months, the Typical APR may vary – please contact our office for exact quote)
Business introduced by an Authorised Credit Intermediary / Commission Disclosure
When a Motor Dealer, in their capacity as the Seller of the Goods and operating as an Authorised Credit Intermediary, arranges finance on your behalf, the Owner (First Citizen Finance) can/may pay a commission fee to them. Under Section 148 (E) of the Consumer Credit Act 1995, it is a requirement that the Authorised Credit Intermediary provides, in writing, details of any commission or consideration payments before you enter into a finance agreement. The interest rate which applies to your agreement is fixed, and the Authorised Credit Intermediary does not have discretion in determining the interest rate or the commission amount. The amount of commission payable can vary and is determined by the amount financed, the term, the interest rate charged, and our agreement with the Authorised Credit Intermediary. We can pay either (i) a fixed monetary amount or (ii) a fixed percentage of the amount financed. All charges, fees, and any commission amounts are included in the cost of credit and are reflected in the Annual Percentage Rate (APR) that is applied to your agreement.
