Kia PCP Finance - Personal Contract Plan Finance



What is Kia Credit Personal Contract Plan (PCP) Finance?

Kia Credit PCP is a flexible and popular plan that provides you with the option to change your car on a regular basis.

How does Kia PCP Finance Work at Kia Dundrum?

You pay a deposit (between 10% and 35% of the Invoice Price) and then make monthly repayments based on the outstanding balance plus interest less the Guaranteed Minimum Future Value.

At the end of the monthly repayment period you’ll have three options:

  1. Renew: Part exchange the car and use any equity as a deposit on your next car;
  2. Retain: Pay the Guaranteed Future Value and take ownership of the car;
  3. Return: Hand back the car with nothing more to pay.

What Does Guaranteed Future Minimum Value Mean?

The Guaranteed Minimum Future Value (GMFV), calculated at the beginning of a Kia Credit finance agreement, is based on what your car’s estimated value will be at the end of the agreement, taking into account its future condition and mileage. This amount is guaranteed no matter what option you decide to take at the end of the contract. Kia aim to set GMFV's at a level which should mean that your car is worth more than this amount at the end of the term and therefore provide you with sufficient equity to use as a deposit on your next car.

Does mileage affect the GMFV on PCP Finance?

The GMFV we have set is based on mileage of 20,000km per year. If you exceed this the GMFV will be reduced by 10 cents a kilometer. Your Kia dealer will appraise you of all of these conditions.

Is there a set period for a PCP?

Yes – 37 months.

36 monthly instalments with the GMFV falling due in month 37.

Is there a minimum or maximum deposit required to apply?

Yes the minimum deposit is 10% and the maximum deposit is 35% of the Invoice Price.

Is the amount quoted on the calculator the amount I will pay?

No this quotation is indicative only. Your Kia dealer will give you an exact quotation for your selected model.

Who is the credit provider?

The credit provider is Bank of Ireland Finance which is a registered trading name of Bank of Ireland.