New data reveals that used car registrations across Meath are up 13.78% in the twelve months to April 2025. By comparison, car registrations overall in Meath grew by 6.6%. This reflects the national picture. Used car registrations across the country as a whole saw double digit year-on-year growth through February and March and are up 0.76% overall on 2024.
The growing popularity of used cars comes as the Central Statistics Office (CSO) reveals that the cost of living in Ireland continues to grow, with prices up by 2.2 per cent in the 12 months to April.
The data, published by beepbeep.ie*, coincides with the launch of an innovative new PCP finance product aimed at further unlocking Meath’s used car market. Close PCP is the first in Ireland to offer a future minimum value guarantee to the whole used car market.
PCP car finance deals are favoured by around 70% of Irish motorists according to Carzone.ie. Despite this, only around 5% of used car purchases are PCP funded. Car dealers are often wary of offering PCP deals on used cars – despite them being more affordable for motorists – because of the risk of market and vehicle depreciation.
Close PCP’s minimum future value guarantee will take the depreciation risk off the forecourt of car dealers across Meath, meaning more choice for motorists. The move comes as data reveals Meath motorists’ preferred car brands. According to beepbeep.ie, drivers in Meath’s first choice when it comes to car brand is Toyota, followed by Hyundai, Kia, Volkswagen, and Skoda.
Commenting, Donal Murphy, Managing Director at Close Brothers Motor Finance Ireland said: “Our innovative Close PCP product has been designed to take the risk of market depreciation off forecourts across Meath and onto our own books. This will allow Meath car dealers to offer a greater range of vehicles to prospective car shoppers.
“This is good news for drivers, meaning more choice and lower prices on higher-spec second-hand cars. It’s good news for Meath in that newer cars are cleaner cars, and it’s good news for dealers, meaning they’re no longer hamstrung in what they can offer their customers by the risk of depreciation.
“We look forward to working with dealers across the county as we deliver greater choice for drivers.”
Close PCP deals could mean lower monthly repayments on a greater range of vehicles for Meath motorists. A 2022 VW Golf on an average HP deal would cost €736 per month, for example, but with Close PCP costs just €529, a saving of more than €200 per month.
If you take up a PCP loan you need to check out the terms and conditions but be mindful there will generally be an outstanding balance ay the end of the term. In the example above is over 37 months, and the value of the car at the end of that period will be €8,908. The big advantage is a lower monthly outlay over the term.
*Data accurate as of 9 May 2025
