Best free online tool to calculate credit union car loan repayments across Ireland. Get instant estimates for monthly payments, total interest, and overall loan costs—updated with 2024 APR rates from ILCU-affiliated credit unions.
Avg Loan Rate
8.6% APRMax Loan Rate
12.68% APRMonthly Repayments
€474.21Monthly Repayments
€80.25Total Interest
€2,071.50Total Interest
€63.01Total Payable
€17,071.50Total Payable
€963.01Credit Union Loan Calculator is free web tool which is inspired from Creditunion.ie website. In this tool we do some modifications and updates to make it better and easy to use for Ireland people. It helps in estimate your monthly repayments, total interest, and overall repayment amount before you commit to a loan.
Designed using accurate financial formula from Creditunion.ie, so check before you depend on it. This web tool calculate borrowing costs based on your loan amount, duration, and interest rates. Not only this will give you the ownership of your vehicle, when you buy a Car then you also need to pay a Vehicles Registration Tax on it , after that you are the official owner of vehicle.
How to use Credit Union Loan Calculator?
This tool follows credit union lending criteria, using information which provided on creditunion.ie. However, exact rates may different based on your credit union’s policies.
- Choose currency Euro (€) or Sterling (£) which you want.
- Enter Loan Amount which you borrow from the credit union.
- Add loan duration for how long you plan to repay the loan.
In a survey of ILCU credit unions:
- Average car loan rate in the Republic of Ireland: 8.6% APR
- Average car loan rate in Northern Ireland: 12.02% APR
What is Creditunion.ie for?
Credit unions is financial organizations owned by community based members, they are helping people in Ireland since 1958. They prioritize their members’ interests, offer them savings and loan services at fair and reasonable rates.
With over 3.6 million members in Ireland, credit unions operate on the principle of people helping people, fostering community growth and financial well being.
Credit Union Interest Rates:
In Ireland, credit unions offer some of the interest rates on car loans, it ranging between 3.95% and 8.6% APR. The average car loan rate among Irish League of Credit Unions (ILCU) affiliates is approximately 8.6% APR.
| Credit Union | Loan Amount | Interest Rate (APR) |
|---|---|---|
| Affinity Credit Union | €20,000 or more | 4.95% |
| Affinity Credit Union (E.V. Loan) | €16,000 or more | 3.95% |
| Kilcock Credit Union | €15,000 or more | 5.07% |
| TUI Credit Union | Not specified | 6.75% |
| First Choice Credit Union | €25,001 – €50,000 | 7.12% |
| First Choice Credit Union | €5,001 – €25,000 | 8.84% |
| First Choice Credit Union | €100 – €5,000 | 12.68% |
| Capital Credit Union | €15,000 over 5 years | 8.2% |
Choose Credit Union for Car Loans:
Credit unions have served 3.6+ million members in Ireland since 1958. Benefits include:
- Lower rates than most banks
- Community-focused approval process
- Flexible terms for members
- Potential rebates on loan interest
Frequently Asked Questions
Q: How accurate is this calculator?
A: It uses ILCU-reported rates, but always confirm with your local credit union for exact terms.
Q: What’s the maximum car loan amount?
A: Most Irish credit unions lend up to €50,000 for cars.
Q: Do rates differ for electric vehicles?
A: Yes! Many credit unions offer discounted “green loan” rates (e.g., 3.95% APR).
Before You Apply: 3 Essential Tips
- Check Vehicle Registration Tax (VRT) – Due when registering your car in Ireland.
- Compare insurance quotes – Required for loan approval.
- Ask about member benefits – Some credit unions offer loan protection insurance.
Disclaimer: This tool provides estimates only. Rates vary by credit union. Always verify terms before borrowing.