Finance Options at Blackstone Motors

At Blackstone Motors we provide finance packages for both personal vehicles and commercial vehicles or business fleet finance to suit your organisation.

Finance types available at Blackstone Motors include:

  • Personal Contract Plan (PCP)
  • Hire Purchase (HP)

Having in-house resources under one roof makes us more agile. Because we have in house finance specialists in all 3 of our dealerships as well as great relationships with franchise & other finance providers. We cut out the middle man which means we’re faster in terms of the way we can orientate our customer service and product offering to customers who want a solution and can get approval within 4 hours.

Not only that - get the added bonus of dealing with an experienced product specialist who will be able to make sure you get both the best car and finance package to suit you.

With competitive finance rates and packages to suit every customers’ needs; this enhances and speeds up the purchasing experience for the customer.

GAP Insurance

Financial peace of mind in case your car is written off or stolen.

A standard GAP insurance policy is sold for two hundred and ninety-five euro, for a three-year insurance policy, included in the price of this policy is insurer costs of seventy-seven euro, a government tax of fifteen euro, administrative fees of fifty euro, Dealer commission of one hundred euro and RCI Bank and Services income of fifty-three euro. The price of the GAP product and the associated costs will increase due to increasing levels of cover.

The administration fee noted above includes (but not limited too) the following areas of cost: Customer Service, Account management, Website Maintenance, Training Costs, Distribution Costs, Product Information Documents, Qualifications Cost, legal Costs & Documentation Fees.

What does GAP insurance cover?

This insurance product will complement your motor insurance by covering the gap between the value of your car and the payout made by your insurer.

GAP Insurance Return to Invoice (RTI) : bridges the financial gap between the total loss payment that you receive from your motor insurers and the amount you originally paid for your vehicle. Return to Invoice Insurance covers your Motor Insurer pays out and the Net Invoice Price you paid for your vehicle, up to the maximum shown on your policy schedule.

What is PCP?

PCP (Personal Contract Plan) is a flexible Hire Purchase agreement. You have a reduced monthly re-payment thanks to a Guaranteed Minimum Future Value (GMFV) for your car in 2 or 3 years’ time.

With PCP there are 3 steps:

  1. The Deposit or trade in: most plans require 3-10% of the value of the car up-front; plus any optional extras, or you also have the option to trade in your current vehicle as a deposit.
  2. The Payment Plan: PCP is generally a set monthly payment spread out over; commonly, a 3 year period; where an agreement is made on how many kilometres per year you’re going to cover and on the GMFV.
  3. The Decision: Towards the end of your PCP contract you have a number of options - Upgrade and start a new PCP plan on a new car, make one last payment to own the car outright (the GMFV figure​), or return the vehicle at no further cost.

Example: If the car is €30,000 and you have a deposit or trade in​ of €10,000, after the 3 year period or 30,000km the car is predicted to have a Guaranteed Minimum Future Value of €10,000. You are financing the remaining €10,000 over an agreed perios (usually 36 months), plus the annual percentage of interest is on the loan (e.g. 3.9 per cent APR). 

Find the estimated trade in value of your vehicle and see what your options are below!

What is HP?

The other form of finance is called Hire Purchase - where you do not have to pay the entire lump sum upfront!

You have the option to pay a deposit and then make monthly payments on the rest of the vehicles value, plus interest which is set by the amount of APR offered at the time of the deal (similar to getting a loan in the Credit Union or Bank). Hire Purchase agreements can be spread over anything between one and seven years.

Re-payments on a HP plan will be considerably higher than on PCP plan, as minus the deposit (if you have one), you are financing the full outstanding value of the vehicle across the agreed payment period.

With HP Plans, no KM limits are imposed on the buyer, therefore no GMFV is taken into consideration. The buyer will own the vehicle at the end of the agreed payment timeframe as you have paid off the full price of the vehicle, plus interest.

The choice is yours!