Savvi Credit Union
7.5% APR variable car loan, starting from €25,000, flexible repayment terms up to 5 years, fast approval & open banking for a simpler process.
Savvi Credit Union offers a car loan with a competitive 7.5% variable APR, giving borrowers a transparent cost of borrowing and simple repayment structure. This loan is available for both used and new vehicles, including electric or hybrid cars, making it suitable for a wide range of applicants and car purchase types. The example provided is for €25,000 over 5 years, resulting in 60 monthly payments of €500.95. The total repayable is €30,056.92, with approval subject to standard credit checks and conditions.
How to Apply: Step-by-Step
- Check your eligibility and gather the necessary financial documents
- Visit the Savvi Credit Union car loan application page
- Fill out the online form with your personal and loan details
- Submit supporting documents using their open banking facility for secure and fast processing
- Wait for credit assessment and approval notification
- Once approved, finalise your purchase with the approved amount
What We Like
Savvi’s car loan stands out for its fair, fixed variable APR, ensuring you know your likely repayments from the start. Their process is streamlined with open banking, reducing paperwork and speeding up approval decisions. Flexible terms let you choose the best repayment schedule for your finances.
Drawbacks to Consider
While the 7.5% APR is competitive for credit union loans, some banks may offer even lower rates for certain customers. Approval isn’t guaranteed, and you must pass Savvi’s credit check and be eligible to join the credit union. There are also limitations on minimum and maximum loan amounts, depending on your circumstances.
Verdict
Overall, Savvi’s car loan offers Irish drivers a balance of transparency, competitive rates and supportive approval process. If you value fair borrowing and personal support over chasing ultra-low rates, Savvi is a solid option for your next car loan.