Car Loan from your Local Credit Union

Anyone who is a member and joining is straightforward. You can become a member if you live, work or study in our common bond area, or if you have a family member who is already a member. You can join and apply for a loan on the same day once approved as a member.

You can borrow anywhere from €100 to €100,000 with a Connect Credit Union car loan, over a term of up to 7 years. The exact amount is based on your ability to repay, not on how much you have in savings. Use our loan calculator to see what your repayments would look like before you apply. Loans are subject to approval; terms and conditions apply.

Our standard car loan rate is 7.71% variable (7.99% APR) for loans over €6,000. For smaller loans of €6,000 or less, the rate is 11% variable (11.57% APR). As interest is calculated on the reducing balance of your loan, you pay less interest with every repayment you make. Representative example: a €20,000 loan over 5 years costs €403 per month at 7.71% variable (7.99% APR), with a total cost of credit of €4,171.

Yes, our car loan covers new and used cars, whether you're buying from a dealer or a private seller. We don't require proof of purchase, so once your loan is approved, you can shop with the negotiating power of a cash buyer.

Almost none, all you need is the minimum €5 balance that comes with opening your membership account. There's no waiting period and no requirement to build up savings before applying. Loan decisions are based on your ability to repay, not on how long you've been a member or how much you've saved.

With a Connect car loan, you own the car from day one, there's no balloon payment at the end, no mileage limits, and no restrictions on selling or modifying the car. You can also repay early or overpay without penalty. With PCP, exiting the agreement early is more restricted and can cost you. PCP can suit some buyers with lower monthly repayments, but you don't own the car until the final lump sum is paid.

Yes, you can make lump sum repayments, increase your regular repayments, or clear the loan early in full, all without any penalty. As interest is charged on your reducing balance, paying extra directly cuts the total interest you pay.

Yes, Loan Protection Insurance is included at no direct cost to eligible members. In the event of a member's death, the outstanding loan balance is repaid, subject to the policy's terms, conditions and eligibility criteria, so the debt doesn't pass to your next of kin. Cover applies to members in good health or carrying out normal occupational duties when the loan is granted, and ceases on the member's 80th birthday. With other lenders, this kind of cover usually means a separate insurance product at your own cost, with Connect it's included free.

If you're employed: your three most recent payslips and three months of current account bank statements. If you're receiving social welfare: your three most recent receipts and three months of bank statements. If you're self-employed: two years of audited accounts, six months of personal and business bank statements, your Form 11, and a letter from your accountant. You can upload everything through our mobile app, no paper, no stress.

We won't keep you waiting, fully documented applications can be approved and issued the same working day. You can apply anytime, anywhere through our online application, including evenings and weekends, and our team will pick it up the next working day. All loans are subject to approval and lending criteria; terms and conditions apply.