Car Loan vs PCP Deal: Do you Know the Difference?

Written by St. Canice's Credit Union
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Thinking of buying a car in this year? Whether you need something for your commute, more space for an extra buggy, or your old-timer is just on its last legs – buying a new car can come with many decisions: electric or diesel, used or new, SUV or estate, as well as how to finance and where to buy it.

That’s why The Irish League of Credit Unions have partnered with motoring experts and the Journal to bring you 4Wheel Guide; the complete roadmap to buying a car in 2021.

To kick off their series, they’ll be looking at one of the most important topics that often trips people up – the differences between a car loan and a PCP finance plan. Will you own the car straight away, will you have to pay a deposit, and are there any mileage restrictions?

Take the quiz below and find out.

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