Bank of Ireland
Low APR starting from 6.5% for electric and hybrid cars, up to €75,000, with terms up to 7 years. Enjoy flexible repayments and fast online approval.
The Bank of Ireland Car Loan stands out for its variety, offering support for petrol, diesel, hybrid, and electric vehicle purchases. With variable APR starting as low as 6.5% for green cars and 7.1% for traditional engines, it remains competitive in the Irish market. Customers can borrow from €2,000 up to €75,000, with loan terms ranging from one to seven years (one to five years for petrol/diesel). Flexible repayment and no-penalty early repayments give even more peace of mind.
How to Apply: Step by Step
1. Confirm you are over 18, resident in ROI, and a Bank of Ireland current account holder.
2. Gather your 365 online user ID and proof of PPSN.
3. For a green car loan, get a recent invoice or quote proving the car’s details and seller information.
4. Start your application in just 15 minutes online or by phone for joint/new customers.
5. Submit further documentation if requested; a credit check applies for loans €500 or more.
Key Advantages
Competitive rates for a wide range of vehicles, with a particularly good rate for electric and hybrid models, mean more affordable motoring.
The application is streamlined and quick if you are already a customer. Plus, repayments can be made weekly or monthly, suiting different budgets.
Key Disadvantages
Only existing Bank of Ireland customers can apply online, which limits immediate access for new applicants.
Loans for petrol and diesel cars are less flexible on loan terms, only available for up to five years.
Verdict
Bank of Ireland’s Car Loan offer is excellent for those looking to finance their next car with competitive rates, especially for EVs and hybrids. While there’s a barrier for non-customers, the flexible repayment options and fast process make this a strong choice if you qualify.