Credit Union Car Loan Rates

Drive your dream car with affordable Credit Union car loan rates you can trust. Transparent, flexible, and community-focused lending – tailored to your needs.

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  • Transparent & updated
  • Compare banks vs Credit Unions
  • Community-first lending

Car Loan Calculator

Plan your loan repayments before you apply.

Our car loan calculator helps you:

  • Estimate monthly repayments based on loan amount, term, and APR.
  • See the total cost of borrowing upfront.
  • Compare Credit Union rates with other Irish banks side-by-side.

👉 Try it now to make a confident financial decision.

Sample Result (Example €20,000 / 5y @ 7.2%)

~€400
Estimated monthly repayment
Total Repayment~€24,000
Total Interest~€4,000
APR (example)7.2%

Illustrative; confirm with your lender.

Comparison of Car Loan Rates in Ireland

(Updated October 2025)

Bank / Credit Union Rate (APR %) Loan Range Typical Term Monthly Example (€20k over 5 yrs)
Credit Union 6.9% – 9.5% €5,000 – €75,000 1–7 years ~€395 – €420
AIB 6.40% €10,000 – €75,000 1–5 years ~€390
Bank of Ireland (BOI) 6.90% €2,000 – €65,000 1–7 years ~€395
PTSB 7.20% €7,000 – €75,000 1–7 years ~€400
Avant Money 5.90% (from) €5,000 – €75,000 1–10 years ~€385 (best-case)

Note: Rates updated regularly from official sources. Always confirm before applying.

Credit Union Car Loan – Profile at a Glance

Overview

  • APR Range: 6.9% – 9.5% (varies by local Credit Union)
  • Loan Amounts: €5,000 to €75,000

Pros

  • Community-based, member-focused lending
  • No hidden fees, no early repayment penalties
  • Flexible loan amounts and terms

Cons

  • Membership required before applying
  • APR can be higher than some online lenders
  • Loan approval may take longer than banks

Eligibility

  • Must be a member of your local Credit Union
  • Resident in Ireland, 18+ years old
  • Proof of income (salary, payslips, or self-employed accounts)
  • Car must be new or used from a registered dealer

How to Apply (Step by Step)

  1. Join your local Credit Union (if not already a member)
  2. Gather documents: ID, proof of address, proof of income
  3. Complete the loan application form (online or in branch)
  4. Wait for credit assessment and approval
  5. Sign loan agreement and receive funds (often directly to dealer)

Competitor Snapshots

AIB

From 6.40% APR, quick online approval. Best for existing account holders.

Bank of Ireland

6.90% APR, strong nationwide presence, easy online calculators.

Avant Money

From 5.90% APR, highly competitive but strict credit requirements.

PTSB

7.20% APR, flexible terms, but higher minimum loan amount.

Key Decision Factors

Eligibility

  • Age 18+
  • Proof of steady income
  • Good credit history improves approval chances

Fees & Charges

  • Credit Unions: generally no arrangement fees
  • Banks: may include processing or documentation fees

Early Repayment

Credit Unions: no penalty for early repayment. Some banks may charge fees if you settle early.

Fixed vs. Variable APR

  • Fixed: Rate stays the same for entire term – predictable repayments.
  • Variable: Rate may change over time – riskier, but can drop if rates fall.

FAQs – Credit Union Car Loan Rates

1. What is the average car loan rate in Ireland right now?

Most car loans range from 5.9% to 9.5% APR depending on the lender and your credit profile.

2. Which is cheaper: AIB or Credit Union?

Avant Money and AIB can sometimes offer lower starting rates (around 5.9%–6.4%), but many borrowers prefer Credit Unions for flexibility and no early repayment penalties.

3. Can I get a Credit Union car loan for a used car?

Yes – as long as the car is purchased from a registered dealer and meets age/mileage rules set by your Credit Union.

4. Will my credit score impact the APR?

Yes – a stronger credit history usually means lower interest rates. Credit Unions may be more flexible than banks with borderline cases.

5. Can I repay early without penalty?

Yes – Credit Unions do not charge penalties for early repayment. Banks may, so always check terms before signing.

Ready to Calculate Your Car Loan?

Don’t wait until you’re at the dealership – know your numbers in advance.

Trust & Disclaimer

  • Information sourced directly from Irish banks and Credit Unions.
  • Updated: September 2025.
  • Disclaimer: Rates are subject to change. Please confirm with the financial institution before applying.

Make an Informed Decision

Use our calculator to check repayments and compare Credit Unions against Irish banks.

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