Credit Union Car Loan

Why choose a Credit Union Car Loan?

Whether you’re dreaming of an upgrade, a family car, a hybrid or electric car, or just looking to buy your first car – talk to Croí Laighean Credit Union about our fair and flexible loans. Our Car Loans come with free loan protection insurance and we won’t penalise you for early repayment. Credit unions are community-based, not-for-profit organisations that often offer lower interest rates compared to traditional lenders.

You can get pre-approved for finance and then shop around to find the car of your dreams like a cash buyer (and this should get you a better deal too!),

At Croí Laigean Credit Union, all loan applications are individually assessed by our experienced lending team, and decisions are based on your repayment ability, not what the computer says. You will always get a fair and transparent decision with Croí Laighean Credit Union.

The great news is that you can join today and borrow today with our new combined application form; this allows you to apply for a loan and membership at the same time, leaving more time to find your dream car.

Thinking of buying a new car?

Our loan rates are very competitive with a standard car loan interest rate of just 7.76% APR. But, if you’re looking to buy a new car, check out our PCP buster which allows you to tailor your loan to suit your repayment ability at one of Ireland’s lowest car loan rates of just 5.5% (5.64% APR). Find out more >

Repayment Example:

A loan of €25,000 over 5 year period would cost €500.95pm at a variable rate of 7.5% (APR 7.76%). The cost of credit is €5,050.96 and the total amount repayable is €30,050.96. Variable rates may increase which would cause the cost of credit to increase. The maximum loan term for online and in-app applications is 5 years. The minimum loan duration varies depending on the type of application, such as in-branch or online.

While every care has been taken in the production of this web page, the Credit Union, or any of its staff, cannot be held responsible for any omissions, errors, or other mistakes on the site. The calculator is for illustrative purposes only, and to give you, the borrower, an overview of the potential cost of borrowing.

Loan amounts and 99% approval rate are based on figures from 2020. Rates are correct as of 1/02/2022 and are subject to change. Croí Laighean Credit Union is regulated by the Central Bank of Ireland.

Frequently Asked Questions

How much can I borrow with a car loan?

Loans for cars can be tricky, but not with us. With us, you can borrow up to €100,000 with repayment terms of up to 10 years. Our  loan calculator will tell you exactly how much you will have to pay back. We also offer a PCP Buster new car loan with a low rate of 5.5% (5.64% APR) for loans over €25,000.

Additionally, our range of personal loans provides flexible financing options for various purposes such as home improvement, education, and travel.

How competitive are your car loan rates in Ireland?

We’ve made car financing easy and affordable. We offer the best car loan rates, so competitive that we are a top choice for loans in Ireland. Use our loan calculator to work out a repayment plan.

What is Free Loan Protection Insurance?

Free Loan Protection Insurance means your loans are insured at no direct cost to you. Should a member with an outstanding loan balance die, the balance is repaid in full, subject to terms and conditions. Potential loan protection for members aged 70 years or younger, is up to €100,000, and up to €40,000 for members aged between 70-85 years. Terms and conditions apply.

Can I get approval and then shop around?

Absolutely! With our Credit Union car loan, you can get pre-approval and shop around like a cash buyer.

Can I borrow to pay off a PCP balloon payment?

Yes, you can apply for a loan to pay off the balance of your PCP contract (also known as the GMFV payment or balloon payment). If you’re in the market for a new car and are considering PCP Finance, check out our PCP Buster New Car Loan which offers a market-leading rate of 5.5%.

Can I repay early?

Of course, we don’t charge penalties or fees for the early repayment of your car loan. This is one of the many member-focused initiatives we offer. Check out our loan comparison guide to find out why you should choose CLCU for your next loan.

Can I get car insurance through Croí Laighean Credit Union?

Yes, we work with Peopl insurance who offer fantastic quotes that are underwritten by some of the largest global insurers. Click here to get a quote >