Credit Union Named Most Popular Choice for Irish Car Loans, for Second Time

Posted on: 30 Oct 2020

The credit union was named the most popular choice for Irish car loans, by car trading website Carzone.ie. The survey, released this week, was published eight months after similiar findings by Done Deal.
The Carzone report said 49% of car buyers in Ireland would choose the credit union when applying for a car loan - compared to just 33% who said they’d get a personal bank loan, 29% a dealership PCP and 27% a PCP.

It could be because credit unions are award-winning, community-owned lenders, who offer low-cost, flexible and jargon-free loans. Find out more about the benefits of a credit union loan here, or read our interview with first-time car-buyer Mark Daly, who explains why he used his local credit union for car finance. 

The Carzone report also revealed that 30% of respondents were confused about the lump sum required at the end of a PCP agreement – a sign of the growing caution with Irish car buyers around this type of finance. You can read the difference between a PCP contract and a car loan here.  

 
If you’re thinking of a car loan but don’t know what to start, why not  submit a loan enquiry with your local credit union? They'd be more than happy to help.