Seán Sherlock
Question:67. Deputy Sean Sherlock asked the Minister for Finance the amount of PCP loans currently in operation in Ireland; and the cumulative total of those loans. [27576/20]
View answerWednesday, 30 September 2020
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The Central Bank has indicated that the latest data available for the total car finance market in Ireland - which includes both Irish resident banks and non-banks - is from end-September 2019. At that time, there were 76,153 Personal Contract Plan (PCP) loans outstanding representing a total outstanding stock of €1,456,939,000.
In its “Money and Banking” statistical series, the Central Bank also publishes data on a regular basis on the types of car finance provided to households specifically by Irish resident banks. The latest data published by the Central Bank in Table A.19 of this series indicates that, at the end of February 2020, the outstanding amount of car finance consumer credit advanced to households by Irish resident banks by way of PCP was €1,171,000,000. This related to 62,078 PCP contracts.