Car Loans
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- Drive now and pay your way
- Enjoy APR starting from 3.9%
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- See your eligibility in just 60 seconds
How much do you need?
Driving your dream car is possible even when you cannot pay up front. Car loans can reach you as fast funding at affordable rates, provided you review and compare rates and terms carefully. Choose a new, used, or eco-friendly car without worrying about finances. This can be arranged even when your credit scores are not perfect.
What is a car loan?
This is a funding arrangement taken out for the purpose of buying a new or used car. Borrow a set amount of loan and pay back according to the repayment plan as fixed monthly amounts. Car loans in Ireland are a suitable way to arrange funds to buy a car when needed, as repayments are affordable.
They are typical personal loans, and you can compare their rates with Finloanhub right now. The borrowing range might vary between €2000 and €25,000, with repayment terms varying from 1 to 5 years. Not only new or used, you can consider getting green car finance to buy electric or hybrid vehicle.
How does your credit score matter when getting a car loan?
Your credit history is one of the decisive factors behind loan approval. However, getting funds for a car purchase is possible even with low credit scores. Fortunately, there are car loans for bad credit to support poor credit borrowers.
The only thing is that such setbacks can reduce borrowing opportunities for you. Moreover, it can make getting cheap car loans more difficult. Despite this, you should not worry as we are here to help you get matched with the ideal lender from our network.
Get an loan quote to get started
What are the pros and cons of a car loan?
There are perks and risks to getting car loans, and you must take note of that. This financing option will definitely help you spread the cost of the car. However, this will also need you to manage a few conditions. Weigh the pros and cons to find the spot to balance.
What are the advantages of these loans?
What are the disadvantages of these loans?
Be prepared to pay more than what you will borrow, as car loan interest is unavoidable
Compare the loan cost carefully with us, as it allows you to get a complete idea about the different fees
Here is a table showing how a change in interest rates can alter the cost by keeping the amount € 10,000 and the repayment term, i.e., 5 years, constant.
Rates | Monthly payment | Total amount repaid | Total interest |
4% | €184 | €11, 040 | €1040 |
6% | €193 | €11,580 | €1580 |
8% | €203 | €12,180 | €2180 |
**This is an example, and the real rates might vary
Use the car loans calculator smartly to find out the ideal rate of interest, loan amount, and repayment term that can work in your favour.
How to look for the cheapest car loan?
You cannot straightaway jump into a perfect and affordable loan offer. Loan brokers like us can make this task easier by introducing you to a lending hub. Now, it is your job to complete a few steps to get the cheapest car loans.
- Assess your budget: Evaluate the amount you can borrow by determining the amount you can afford to repay.
- Decide the loan types: Find out if you want full ownership or want to portion out the cost of the car purchase over a period.
- Pre-qualify with lenders: Based on your requirements, you can get pre-approved offers from multiple lenders with our assistance.
- Watch for hidden costs: Review the fee structure provided by loan providers to see if something unexplained has been charged.
- Compare rates: Without comparing the interest rates offered by different lenders, you cannot decide which one is affordable.
Please note, consider comparing the total borrowing cost and not just the monthly payments to end up with the best car loans in Ireland. Go through the terms and conditions, discussing the other fees that might add up in different scenarios. These are the times when the loan cost might increase and will no longer be a cheap offer.
Rates | Monthly payment | Total amount repaid | Total interest |
4% | €184 | €11, 040 | €1040 |
6% | €193 | €11,580 | €1580 |
8% | €203 | €12,180 | €2180 |
**This is an example, and the real rates might vary Use the car loans calculator smartly to find out the ideal rate of interest, loan amount, and repayment term that can work in your favour.
What are the other car loan types available?
How does car finance in Ireland work?
The start of your journey with a loan should always be getting pre-approved and not directly approved. This is how you can see through the offers that are coming your way. Now, borrowing need not be hectic when you can manage the whole process with one loan application.
These are the steps that define the working procedure of a car loan.
Step 1 -> Application | Provide some details in an online form by attaching a few documents |
Step 2 -> Assessments | Affordability checks to decide whether or not to approve funds |
Step 3 -> Pre-approval | Get an offer based on your requirements and suitability |
Step 4 -> Loan agreement | You have to accept the terms and conditions of lending |
Step 5 -> Funds release | You will receive the approved sum of loans in your checking account |
Step 6 -> Repayment | Keep making monthly payments over the specified duration till the end of the term |
I want to buy an electric or hybrid car.
Can I get a loan?
Yes, you can opt for electric car loans designed for such purposes. The only difference is that you can use them to buy electric or hybrid cars only. Since many lenders appreciate this type of sustainable approach, getting financial support at affordable rates is widely common.
Their working procedure is exactly like a typical car loan. Getting EVs with a loan is well justified as they demand low maintenance costs and let you save on fuel. Above all, getting better rates is possible with these loans because of the better resale value of these cars.
A few things you must pay attention to while getting green car loans are:
What are the tips to reduce car loan payments?
These are the monthly instalments you will pay to the lender over the agreed duration. It will include the principal amount and the interest rates. Follow these tips to reduce car loan repayments.
- Shop around for affordable rates of interest
- Provide a larger deposit (if needed) to downsize the amount you have to borrow
- Select a shorter term for repayment to save on the total interest
- Pay off loans early, as this can reduce the loan interest you will ultimately pay
- Maintain or improve credit scores
Why compare car loans with Finloanhub?
Here, we keep evaluating how our features can positively impact the borrowers of a car loan. We also make it a point to analyse the ways we can deliver best to our customers. Rest assured, you can get an affordable deal by comparing different lenders on the go.
Free service We have provided a free platform where you can draw comparisons at free-of-cost. We may get some commission from the lender only. | Expert research We have an expert team working for you to crunch the numbers and find the best lender offering the best features matching your needs. | Easy to compare We have reduced the hardship of finding a suitable car loan offer by letting you compare multiple deals with just one application form.
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