Paschal Donohue to tackle €2.7bn car debt crisis

Finance minister to meet Central Bank and consumer watchdog to discuss "right regulatory framework"

Barry J Whyte

Chief Feature Writer @whytebarry
15th April, 2018

Minister for Finance Paschal Donohoe has pledged to regulate the personal contract plans which have been used by 126,000 drivers to get new cars.

Personal contract plans (PCPs) and hire purchase agreements allow drivers to obtain a new car on relatively low monthly repayments without actually owning it.

But the swift expansion of the market – PCPs and hire purchase deals have grown so rapidly they now account for around €2.7 billion worth of Ireland’s total...

Subscribe from just €1 for the first month!


What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Eoin Ó Broin: Focus on built environment is key to cutting emissions

Analysis: At what point could Covid-19 be reasonably compared to a cold or flu?

Ten steps to save yourself at least €5,000 in 2022

Dan O’Brien: Our national inferiority complex fuels the move towards angry populism