PCP Buster
Our Lowest Car Loan Rate


Great value loans

Interest calculated on reducing loan balance


Over €46 million

Borrowed by members last year



Loan approval rate


Simple loan process

Quick turnaround on standard loans

Say goodbye to PCP Finance

Our PCP Buster car loan is a great value alternative to PCP Finance. With our PCP loan, you can tailor your repayments to suit your budget and own your car outright, at one of Ireland’s lowest rates – 5.5% (5.64% APR).

With PCP Finance, you’re essentially renting the car until you make the final payment. The final payment can be a hefty sum, and you may also have to pay for mileage restrictions, wear and tear, and crash damage. Our PCP Buster car loan is a more flexible and affordable option. You can use our handy calculator below to estimate your monthly payments and work out an affordable repayment plan.

Did you know that we loaned over €14.9 million last year to help our members buy cars? Apply for our PCP Buster car loan today and say goodbye to PCP Finance, and hello to simple and affordable repayments.


Why choose a CLCU PCP Loan

  • 5.5% variable rate (5.64% APR)
  • Own your car outright, from day 1 (unlike PCP finance)
  • Tailor your repayments to suit your budget
  • Borrow between 3 and 8 years
  • Minimum loan value of €25,000 up to €80,000
  • Free Loan Protection Insurance (T&C apply)
  • No mileage restrictions

infoApply for a loan today. Not a member? You can join & apply at the same time.

Loan calculator

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APR means Annual Percentage Rate. The repayment amount quoted in our PCP car loan calculator is for illustrative purposes only, and to provide you with an overview of the potential cost of borrowing. Restrictions may apply.

Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future. If you are experiencing difficulty repaying your loan, or believe you may in the future, please click here.


PCP Finance Explained

With the current shortage of used cars, and the advancements in hybrid and electric car technology, many people are considering purchasing a new car. PCP Finance is often promoted by dealerships as an option for purchasing a new car, but to a lot of people, PCP Finance can be confusing, but here’s how it works:

(1) You pay your deposit and monthly payments. Often the deposit advertised is 30%, and this is to make the monthly payments look attractive and affordable.

(2) At the end of the contract, you have three options:

(i) Pay the Guaranteed Future Minimum Value (GMFV) payment to own the car.
(ii) Give the car back.
(iii) Take out a new PCP Finance agreement and pay the GMFV (balloon) payment, along with a deposit on a new car.

Please note: The deposit will be the difference between the market value of the car (what the dealer offers) and the GMFV. For example, if the dealer offers €17,500 for the car and the GMFV is €15,000, you will have €2,500 to contribute towards your new deposit.

Why Choose Our PCP Buster Car Loan

A Croí Laighean PCP Buster Car Loan is a more transparent option. You own the car from day one, and there are no hidden fees. You can tailor the loan to suit your repayment ability, and you even get free loan protection.

Here are some of the key differences between PCP Finance and PCP Loan:

(1) With PCP Finance, you don’t own the car until you pay the balloon payment. With a PCP Loan, you own the car from day one.

(2) PCP Finance typically has lower monthly payments than a PCP Buster Loan, but with the PCP Loan, there is no final balloon payment.

(3) PCP Finance may have hidden fees, such as mileage charges and excess wear and tear charges. A PCP Loan does not have these hidden fees.

If you’re considering purchasing a new car, it’s important to understand the different financing options available to you. A PCP Buster Loan can be a more transparent and affordable option than PCP Finance.

Here are some additional things to consider when choosing between PCP Finance and PCP Buster Loan:

Your budget: How much can you afford to spend on monthly payments?

Your plans for the car: Do you plan to keep the car for a long time, or do you want to upgrade in a few years?

With a Croí Laighean PCP Buster Car Loan, you get an incredibly transparent car loan with no hidden fees and you own the car from day 1. You can tailor the loan to suit your repayment ability and we even offer free loan protection* for extra peace of mind.

Electric Cars: Thinking of buying an electric car but you’re unsure if it will suit your needs? We asked a recent EV adopter to share their insights and let us know the pros and cons of their experience. Read the full post here.

Repayment Example:

PCP Buster Loan @ 5.5%. A PCP Buster Loan of €25,000 over 5 years would cost €477.53 per month at a variable rate of 5.5% (5.64% APR). The cost of credit is €3,652 and the total amount repayable is €28,652. Variable rates may increase which would cause the cost of credit to increase.

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. This PCP car loan 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 is 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.

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