McElligotts

When purchasing your car you want expert financial advice, the advice that’s right for you. As a Qualified Financial Advisor, Dermot O Sullivan is that person. He has over 10 years work experience in financial services having worked in both the credit union and car lending sectors. His previous role as an underwriter allows him to understand the car finance process both from the customer and finance house side. He has an eye for detail and is very committed to providing a superb customer service to the customers of McElligott’s. He also has a degree in Business from MTU Kerry.

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FAQ’s and understanding the most common queries

Hire Purchase (HP) and Personal Contract Plan (PCP) are both forms of car finance that give you the opportunity to purchase a car without paying the full price upfront. With Hire Purchase you own the car outright at the end of agreement with no amount due. PCP offers you a lower repayment and flexible options in that there is an amount left at the end, the Guaranteed Minimum Future Value. The purchaser has several options at the end of the agreement (pay this and own car outright but most customers trade up and anything offered above GMFV acts as cash deposit for your next car purchase. They can also pay the GMFV if they wish to own the vehicle outright.

We only require a few details from you to get finance acceptance. Where any follow up documents are requested, we will know quickly and advise you of same. Once acceptance is in place we just need a Proof of ID (Driver’s licence or Passport), Proof of Address and Proof of PPSN. We will sign you up on collection of vehicle with repayments starting in the month after. Everything will be explained clearly to you the customer throughout the process.

Absolutely. Where you have no credit history the finance company may request a recent bank statement, but we have got countless customers passed for finance in this case. As a registered Credit Intermediary, you can be sure we will do our best to get you passed with one of our regulated finance houses.

In the main, most finance houses will look for a minimum 10% deposit. This can be made up of a trade in and cash deposit (where applicable). With some new cars, there may be a higher deposit required to get a more preferential rate, but this will be clearly explained to you in your interactions with our sales team/business manager.

Positives of taking Car finance at McElligott’s:

The interest rate is fixed throughout the loan, so you know exactly what you’ll be paying every month. Makes budgeting easier.
You can decide the length of the finance agreement to suit your needs where applicable.
It allows you to have a newer car than you could or would want to buy outright without finance.
Excellent finance rates.
Simple and quick application process.
It offers the opportunity to build a good credit history as car finance repayments would be reported on your credit history.
In-house advice from a Qualified Financial Advisor who will make you aware of your options and get you the best deal.

New Car Finance Example

Used Car Finance Example

NOTICE: McElligott’s Tralee Ltd are a regulated credit intermediary.

NOTICE: McElligott’s Tralee ltd will submit your application data to a regulated finance lender for decision. Under the Credit Reporting Act 2013 lenders will provide personal and credit information for credit applications and credit agreements to the Central Credit Register. This information will be held on the Central Credit Register and may be used by other lenders when making decisions on your credit applications and credit agreements.

Warning: If you do not meet the repayments on your hire-purchase agreement, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire-purchase agreement, a consumer-hire agreement or a BNPL agreement in future.