MSL GROUP WEBSITE
Please select from one of the sections below.
Our friendly and fully trained Sales Team will be happy to explore different options with you, which will enable you to meet your monthly budget.
Motor Services Limited act as both credit and insurance intermediaries for several finance companies listed below. In others words we act as a finance and insurance brokers. Please read on under the topics below to see the products we have and how they can benefit you.
Finance partners are Volkswagen Bank GMBH, Allied Irish Bank plc ,Bank of Ireland Finance Ltd, Bank of Scotland (Ireland), Lombard Ireland Ltd, Friends First Finance Ltd., Permanent TSB Finance, Mazda Credit, GE Money
Consumer Hire Purchase agreements (designed for Consumers and gives you your full consumer rights)
Hire purchase is exactly what it says it is, you are hiring the vehicle to purchase it. The title of the vehicle passes from the finance company to you upon the last payment or if you settle your loan early.
Interest is applied in exactly the same way as a personnel loan (unsecured loan) from your own bank or credit union.
These agreements are at a fixed rate of interest, so you are protected against rising interest rates. What you agree to pay today will remain the same for the life of your agreement.
Why Hire purchase with MSL, and not a personnel loan from my own bank/credit union?
Convenience, deal with one person in the one place throughout the whole buying process.
You gain protection on a Hire Purchase from the Consumer Credit Act in relation to the value of the goods versus the loan for it, please ask your sales consultant to explain further.
In these times your available credit lines may become crucial over your vehicle change cycle. By using one of our finance partners you can leave your first line of credit with your high street bank/credit union untouched for unforeseen future expenses.
The vehicle acts as security against a Hire Purchase loan. This is a very positive aspect, as it reduces your exposure to other future lenders.
Picture the scenario. I keep my car for four years. I need €15,000 to fund the balance on my car today. In two years time something happens were I need another €15,000 (it could be for my daughter’s wedding, it could be a new kitchen etc.)
Option 1
Today I borrow €15,000 for my motor car from my high street bank/credit union on a personnel loan (unsecured) over five years. This would bring the bank’s exposure to me to €15,000 unsecured.
Two years later I need a further €15,000 for that new kitchen. The bank/credit union will look at my application and then look at my outstanding balance of circa €9,900 on my original loan and add the new loan to it. In total I would now owe them €24,900 unsecured.
How quickly will my bank want to give me a further €15,000 in two years time when I really need it?
Option 2
Today I borrow €15,000 on a Hire Purchase agreement from a finance company other than my own bank/credit union. I would have two definite advantages over option 1.
Although I would still owe circa €9,900 to a finance company, the loan is secured by the vehicle (advantage 1 comfort to the lender) and just as crucially my outstanding debt is to another institution (advantage 2 Less exposure to lender) bringing my bank/credit unions exposure to me now two years on to €15,000 unsecured rather than option 1 were there are exposed €24,900.
When I approach my own bank/credit union for a €15,000 loan in two years, I reckon the will give me the €15,000 quicker than if I went with option one today.
We offer three funding options for Non-consumers:
Non-consumer Hire Purchase
(Vat is reclaimable in one lump sum on category B(Car Van, commercial jeep) and Category C (Full commercial e.g. VW Transporter Van). The Vat is claimed on the invoice price of the vehicle.
Non-Consumer Lease
Vat is reclaimable Monthly on category B (Car Van, commercial jeep e.g. Mercedes ML) and Category C (Full commercial e.g. VW Transporter Van). The Vat is claimed on the Vat element of each monthly rental.
Contract Lease
Simply lease the vehicle over a pre agreed period of time and hand it back to us. Vat is reclaimable on the monthly rentals on Category B and C vehicles only.
As every customers needs are different, please explore the options with your sales executive and the various outcomes of each product. However we would always advise you to check which option is best for your business with your accountant.
Monthly Budget | Term & Loan amount | Term & Loan amount | Term & Loan amount |
| €200 per month | 36 months =€6,160 | 48 months = €7,830 | 60 months = €9,330 |
| €375 per month | 36 months€11,775 | 48 months = €15,045 | 60 months = €18,030 |
| €500 per month | 36 months = €16,190 | 48 months = €20,880 | 60 months = €25,250 |
Numbers stated above are only guide lines to give you a rough idea of how much you can borrow over different loan terms for notional budget.
However we can set up loans over any period from 13 to 61 months. If 43 months fits your budget and gets you the car you want we will set up your loan for that term.
The process can go as follows:
Option one (Get pre-approved before you move!)
As you are now online, select the vehicle you like and feel is right for you.
Call the appropriate showroom and speak with one of our sales consultants who can go through a possible deal with you verbally. Estimated cost to change and monthly payment. We should be able to agree a notional cost to change subject to you viewing and test driving our car and vice versa. Our sales consultant can take some of your details over the phone and submit an online proposal to one of our finance partners to get an approved credit line put in place for you(loan decisions take on average only two hours). Getting the loan approval does not mean you are obliged to enter into the agreement.
Upon receiving finance acceptance, we will call you and arrange an appointment for you to call in and test drive the vehicle. When all vehicles and figures are agreed, you pay a holding deposit, sign up both vehicle and finance documents (you will need to bring either your passport or drivers license with you).
Upon receiving payment notification from the bank (24hrs from signing) you can come in and collect your new car.
Option two!
Visit our showroom and met with one of our sales executives who will help in selecting the right car for you.
Have a test drive.
Discuss cost to change and funding options with our sales consultant. If you are happy to proceed, our sales consultant will take some of your details and submit an online proposal to one our finance partners. Loan decisions on average take only two hours! Getting the loan approval does not mean you are obliged to enter into the agreement.
Once loan approval has been received, come back into the showroom and pay a holding deposit, sign documents for both the vehicle and the finance company.
We will then prepare the vehicle for delivery and upon receiving payment notification from the finance company (24hrs from signing) you can come in and collect and drive away in your new car.
Protect your investment! Guaranteed Asset Protection
If unfortunately your car is written off due to accident, fire or theft, even with full insurance cover, (comprehensive insurance), your insurer will pay you the current market value of your vehicle at the time it is written off. Which could leave you with a substantial shortfall, if you wish to drive the same caliber of vehicle again.
We have researched the market and found what we consider to be the best GAP product out there. Not only will this policy pay the difference between your insurance payout and the original invoice price you paid for your car, but if you have a finance settlement that’s higher than the original invoice price, this product covers the higher figure. (Subject to a maximum payout; see policy for claims procedure, Terms and conditions).
Value | Period | Claim limit | Premium (once off payment) |
<€25,000 | 36 months | €15,000 | €360 |
<€50,000 | 36 months | €30,000 | €540 |
<€75,000 | 36 months | €30,000 | €720 |
<€150,000 | 36 months | €30,000 | €900 |
Depending on the finance product you choose there are several payment protection policies available. In the event of you being unable to make repayments due to reduced income for reasons beyond your control such as redundancy, accident or a serious illness the policy will step in and make the repayments on your behalf. Thus protecting your credit rating and reducing your stress at what is possibly a stressful enough time already. Please ask your sales executive for further information.
