Car Loans Explained
Our low-cost Car Loans are designed to help you buy a new car or upgrade to a newer model, with flexible terms and competitive rates. With no balloon payments, you can make extra repayments at any time without penalty. You own your car from the outset, and your loan is insured, giving you added peace of mind.
- Unlike a Hire Purchase agreement, you own the car from the outset.
- Rate of 7.9% applies to Car Loans €15,000 or more.
- For Car Loans less than €15,000 the rate of 10.44% variable. 11% APR applies.
- You must produce proof of registration of the car within 2 months of loan issue. Failure to do so will mean your loan will revert to our standard rate of interest.
Car Loan - Representative Example as of 10/08/2026.
To fully process the loan we will need the following:
- Passport or driving licence
- A current utility bill, bank or credit card statement
- 3 most recent payslips or Social Welfare receipts
- 3 months current bank statements
- If you are Self employed we will need a copy of accounts and notice of assessment
- If your partner’s income is being used, all of the above details are also required for your partner.
Things that make Core Credit Union loans different:
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There are no admin charges, hidden fees or transaction charges.
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Repayment terms can be designed around your needs.
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You can pay off your loan early, make additional lump sum repayments or increase your regular repayments, without a penalty. Other lenders may charge you extra for paying them back faster.
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Interest is calculated on your reducing balance, so you pay less interest with each repayment.
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Credit Union interest rates are fair and reasonable and capped by law.
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Loans are insured – subject to terms and conditions – at no direct cost to you. Other lenders charge for this.
If you are a Member and would like information about a Credit Union loan, enquire now, and we will answer any questions you may have. Alternatively, choose one of the options in the boxes.
This is the quickest way to apply for a loan online because when you log in your information is already pre-populated. You can also sign your loan documents, draw your loan down and transfer it to your bank or current account online.
This is the easiest way to apply for a loan online because we ask for minimal information initially, however we will have to call you back and go through your details over the phone.
This is the longest way to apply for a loan online because you have to input all your information (instead of it already being pre-populated), and you can’t sign for the loan or draw it down online, you have to visit one of our offices.
For fraud protection and security purposes, once you have applied for a loan, you may be contacted by our Member Services Team.
Loans are subject to approval. Terms & Conditions 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