YOUR CAR LOAN
Whether you're looking for THE 'I Need To Clear a Balloon Payment' CAR LOAN, or THE 'I Don't Want Any Hidden Fees" CAR LOAN, come and talk to your local credit union.
Your Car Loan - Your Way
Whether you're looking for THE 'I Need To Clear a Balloon Payment' CAR LOAN, or THE 'I Don't Want Any Hidden Fees' CAR LOAN, come and talk to your local credit union.
WE'RE NOT HERE FOR PROFIT.
WE'RE HERE FOR PEOPLE.
5 reasons why a credit union car loan is the way to go:
- You own it
Unlike other finance options such as hire purchase or personal contract plans, with a credit union car loan, you own the car from day one. It’s yours to do with as you please.
- No sneaky fees
There are no administration charges, hidden fees and no balloon payments.
- Flexible repayment terms
You can pay off your car loan early, make additional lump sum repayments or increase your regular repayments, without a penalty. Other finance providers may charge you extra for paying them back faster.
- Competitive rates (and maybe even a loan interest rebate)
As well as offering very competitive car loan rates, many credit unions offer loan interest rebates at the end of the financial year. If, for example, your credit union announces a 10% loan interest rebate, a borrower will get 10% of the loan interest they paid, paid back to them.
- Free Loan Protection Cover
Your credit union has taken out, at no extra cost to you, a loan protection insurance policy to protect and provide you with added peace of mind when you borrow. This free life assurance cover is unique to credit unions and is designed to pay off your loan in the unfortunate event of your death, thus relieving you of unnecessary future worry and relieving your loved ones of the burden of a debt owing. Please check with your credit union to ensure you are eligible for this cover as some terms and conditions will apply.
HOW MUCH DOES A CAR LOAN MY WAY COST?
The maximum interest rate which a credit union can charge is 12% (12.68% APR)*. In practice, most credit unions have interest rates which are significantly lower than that. Please check with your local credit union for further details. The maximum loan period can vary, depending on each credit union's own policy.
Generally, there is no minimum loan period. You can pay off your car loan early, make additional lump sum repayments or increase your regular repayments, without a penalty.
* For a €3,000 one year variable rate loan with an interest rate of 12%, an annual percentage rate of 12.68%, the monthly repayment will be €266.55 and the total amount repayable will be €3,198.56
LOOKING AT CAR LOAN REPAYMENTS YOUR WAY
The two most important things about any loan are being able to borrow the money and being able to repay it. As this is your loan, we believe you should be able to do both, in ways that suit you.
When you borrow from a credit union, you agree a repayment plan that suits you. If your situation changes, you can talk to your credit union about possibly changing your repayment plan.
Your credit union is there to help you - the member - not to make a profit for someone else.
HOW DO I APPLY FOR A CAR LOAN?
If you are already a member of a credit union, simply contact your credit union today
To submit a car loan enquiry to your local or workplace credit union, please click on the Loan Enquiry link below.
Alternatively, it's as simple as contacting your credit union to discuss your needs. You’ll find contact details for your local or workplace credit union in our Credit Union Locator.
If you're not already a credit union member why not join today? You'll find more details on what you need to join by clicking in the Join now link below.
Your Loan Enquiry Form