Car Loan Calculator Ireland

Estimate Your Monthly Repayments

Quickly calculate your monthly and total repayments in Euro (€). Compare Irish bank rates, check eligibility, and explore refinancing options — all in one place.

Loan Calculator

€5,000 €25,000 €100,000
1 year 5 years 7 years
3% 7.5% 15%

Your Monthly Repayment

€495.03
per month
Total Amount Payable: €29,702
Total Interest: €4,702
Interest Rate: 7.5% APR

Updated for AIB, BOI, PTSB, Avant Money & Credit Union rates

Need more detail? Try our Monthly Repayment Calculator.

AIB BOI PTSB Avant Money Credit Union

Current Car Loan Interest Rates in Ireland

Wondering if BOI is cheaper than AIB? Here's an updated view of car loan interest rates across Ireland in 2025.

AIB
6.9%
APR Representative
Fixed Rate
BOI
7.5%
APR Representative
Fixed Rate
PTSB
8.2%
APR Representative
Fixed Rate
Avant Money
5.9%
APR Representative
Variable Rate
Credit Union
4.9%
APR Representative
Variable Rate

Understanding APR and Interest Rates

What is APR?

Annual Percentage Rate (APR) includes the interest rate plus any fees, giving you the true cost of borrowing.

Fixed vs Variable Rates

Fixed rates stay the same throughout your loan term, while variable rates can change based on market conditions.

View Full Comparison: Car Loan Interest Rates Ireland 2025
AIB Car Loan Rates Bank of Ireland Car Loan Rates PTSB Car Loan Rates Avant Money Car Loan Rates Credit Union Car Loan Rates

Loan Eligibility in Ireland

Can You Get Approved?

Understanding the key requirements for car loan approval in Ireland, including income requirements, ICB credit report, and credit score basics.

Key Eligibility Requirements

Minimum Income

Typically €20,000-€25,000 annual income required

ICB Credit Report

Clean credit history with Irish Credit Bureau

Employment Status

Permanent employment or stable self-employment

Age Requirement

Minimum 18 years old, maximum 70 at loan end

Quick Eligibility Checker

Check Car Loan Eligibility

Prepayment & Early Repayment Savings

Save Money by Paying Early

How prepayment works in Ireland (with/without penalties). See how much you could save by making early repayments.

Prepayment Example

Original Loan Amount: €25,000
Interest Rate: 7.5% APR
Term: 5 years

Early Repayment Scenario

Prepayment Amount: €5,000
Interest Saved: €1,200
Time Saved: 14 months

Prepayment Calculator

Car Loan Prepayment Calculator

Refinancing Your Car Loan

Switching to Lower Rates

When refinancing makes sense (switch BOI → Credit Union). Discover the advantages of refinancing your existing car loan.

Lower Interest Rate

Switch from high-interest loans to lower rates, potentially saving thousands in interest payments.

Save €2,000+

Better Terms

Extend or reduce your loan term to better suit your current financial situation and goals.

Flexible

Credit Union Benefits

Enjoy member benefits, flexible repayment options, and often lower rates with Credit Union loans.

Member Perks

When to Consider Refinancing

Good Time to Refinance:

  • Interest rates have dropped
  • Your credit score has improved
  • You want to reduce monthly payments
  • You need to extend your loan term

Consider Waiting If:

  • High prepayment penalties
  • Your loan is almost paid off
  • Interest rates are rising
  • Your credit score has dropped
Car Loan Refinancing Options Ireland

Car Finance Alternatives

PCP vs Loan - Should You Choose PCP or a Loan?

Compare Personal Contract Purchase (PCP) with traditional car loans to find the best option for your situation.

Car Loan

Ownership from day one
No mileage restrictions
Can sell car anytime
Higher monthly payments
Builds equity in the car
€495/month
Based on €25,000 over 5 years at 7.5% APR

PCP (Personal Contract Purchase)

Lower monthly payments
Flexible end-of-term options
Can change car regularly
Mileage restrictions apply
Large final payment (balloon)
€295/month
Plus final balloon payment of €10,000

Which Option is Right for You?

Choose a Loan If:

  • • You want to own the car
  • • You drive a lot
  • • You plan to keep the car long-term

Choose PCP If:

  • • You like changing cars
  • • You want lower payments
  • • You stay within mileage limits

Consider:

  • • Your budget flexibility
  • • Future car needs
  • • Total cost of ownership
Compare Repayments Now
PCP vs Car Loan in Ireland

Green Car Loans & EV Finance

Special Loans for Electric Cars

Take advantage of special rates for electric and hybrid vehicles, plus SEAI grants and incentives.

Green Loan Benefits

Lower Interest Rates

Special rates as low as 4.9% APR for EVs

SEAI Grants

Up to €5,000 grant for new EVs

Charging Support

Home charger installation support

Tax Benefits

Reduced motor tax for EVs

EV Loan Example

4.9% APR
Special EV Loan Rate
Loan Amount: €30,000
Term: 5 years
Monthly Payment: €565
Total Interest: €3,900
SEAI Grant: -€5,000

Effective cost after grant: €28,900

Green Car Loan Ireland

Student & First-Time Buyers

Car Loans for Students & First-Time Buyers

Special considerations for students and first-time car buyers, including co-signer options and building credit history.

Challenges for Students

Limited Credit History

Most students have minimal credit history, making approval harder

Income Requirements

Part-time work may not meet minimum income thresholds

Higher Interest Rates

Limited credit history often means higher rates

Solutions Available

Co-Signer Options

Many Credit Unions allow parents as co-signers

Student-Specific Loans

Some lenders offer special student car loan products

Credit Union Flexibility

More flexible lending criteria for members

Tips for First-Time Buyers

Before Applying:

  • • Build some credit history (credit card, bills)
  • • Save for a larger deposit (20%+)
  • • Get a steady part-time job
  • • Research different lenders' requirements

Application Strategy:

  • • Start with your local Credit Union
  • • Consider a parent as co-signer
  • • Apply for a realistic amount
  • • Show evidence of regular savings
Best Car Loan for Students & First-Time Buyers

Frequently Asked Questions

Got Questions About Car Loans in Ireland?

Find answers to the most common questions about car loans, interest rates, eligibility, and more.

FAQ Hub Car Loan Glossary Ireland

Make an Informed Decision

Use our Car Loan Calculator now and make an informed decision before applying with any Irish lender.

Central Bank Standards

All lenders comply with Central Bank of Ireland regulations

Independent Guide

We're an independent financial guide, not a lender

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