Consumers left with 'staggering amounts' of debt from PCP car sales

Labour TD Sean Sherlock told the Irish Examiner that the regulation of PCP car financing by the Central Bank, "appears on the face of it, to be characterised by a light-touch approach".

Consumers have been left with "staggering amounts" of debt from entering into so-called "personal contract plans" (PCP) to drive new cars.

Labour TD Sean Sherlock asked finance minister Paschal Donohoe for a breakdown of the number of PCP loans currently in operation in Ireland, as well as the cumulative total of those loans.