Car Finance in Ireland

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Car Finance – Your Money Support for the Big Purchase

Are you looking forward to financial assistance to buy the comfort of your own car? CurrentFinanceLoans would like to present its significance and explain how it can support you on the financial part during your car buying process. Our platform serves a vast range of car finance options to offer the liberty to choose from a variety. Borrow from a minimum amount of €1000 to €25000. You can make your choice, and we work to turn that choice into reality through finance deals we design to match your personal financial condition.

How does car finance work in Ireland?

Car finance has different types and according to their individual nature, the type of procedure and the terms and conditions change. The one thing that is similar in all the options is the demand for a stable repaying capacity from the borrower. Whatever method you select to finance your car purchase, the ultimate requirement is to have financial stability. Do you have it? Through the car finance calculator, your eligibility for a particular amount can be checked. According to the personal financial conditions, you can pick any alternative.

What are car finance options available in Ireland?

Car finance in Ireland has multiple options with varied features. The variety of options gives liberty to the borrower to choose the alternative that is most convenient and practicably suitable for personal finances. Explore the best alternatives to the bank of Ireland car finance deals here.

Hire Purchase – The garage from where you buy the car acts as the agent to arrange the finance for you. But the garage should be authorized by the lender. CurrentFinanceLoans have given authority to many dealers across Ireland to make a convenient reach to the car buyers. You do not need to pay anything to the garage because we pay them. The application process remains the same with no fee or charges.




The car garage that you buy a car from arranges the meeting and takes care of the formalities with the actual lender.

You may not be able to take the funds from your desired lender if that finance company does not authorize the garage.

Personal Contract Plan – In this method, you make a monthly payment to use it for a specific time, such as 36 months. After that particular period, the buyer makes a bubble payment of the remaining amount at the end. This final payment is called Guaranteed Minimum Future Value (GMFV). For all this process, the buyer needs to get into a PCP agreement. A sum of deposit may or may not include depending on the terms and conditions applicable in your individual circumstances. If you are looking for car finance in Ireland with no deposit, this could be your saviour.




Monthly payments are small and also the deposit. You may not need to pay the deposit

The final payment of GMFV can be hefty and difficult to afford.

0 car finance – The 0% car finance is quite popular among the borrowers because it has ‘no interest’ policy. The borrower gives a deposit amount and makes monthly payments. Due to the zero percent interest, the down payment and the monthly payments can be a bit big in size. However, according to your conditions, some adjustments can be made.




There is no interest to pay. Only the principal amount needs to be paid.

The deposit amount and the monthly instalments are usually hefty.

Car loans – It is the most popular method to obtain funds for the car purchase. The car loans are the secured loans with a lower rate of interest and affordable monthly payments. The minimum deposit amount required is 10%, but you can provide bigger than this minimum limit. The loans are also used as the option for used car finance.




Small deposit amount, affordable rate and can be used to purchase used cars.

Missed or delayed payments add the burden of increased interest rate in the future repayments.

How to qualify for car finance options

Through required AFFORDABILITY for car finance, you can qualify for any option. Whatever choice you make to borrow funds, the concern of affordability remains the same and depends on similar aspects.

Following factors are required to explore the suitable car finance choice –

  • The income-outgoing ratio judges your monthly financial capacity. It is obtained by deducting the other debts and expenses from your monthly income. The minimum level of the income-outgoing ratio is 60:40; it means 60% income and 40% outgoing.
  • Employment stability is an essential factor. It is always advisable to stay in the same job for at least one year before you apply for a car finance option. However, if you have switched to a new job with a good salary hike, we are ‘Ok’ with a minimum of last 6-month salary record.
  • Good recent financial behaviour – Payment history is significant, but we give more importance to the current financial circumstances of the borrower. It is the reason that we also offer bad credit car finance to those with improved financial behaviour.

How to get bad credit car finance in Ireland

The car finance in Ireland with bad credit is not a rocket science nowadays with flexible online lending options available with ease. Through a satisfying repaying capacity, you can borrow money to materialize the purchase. You need to prove it through several factors in personal finances.

  • Poor credit in the past is acceptable, but the consistent incidents of payment defaults or delayed payments may create complications.
  • The income-outgoing ratio can be 50:50 (50% income 50% expenses) but not below this because we need some space to adjust our repayments.
  • An additional income from any authentic source can be a good way to get approved for funds quickly. It is optional but advisable always.

How much deposit is required for finance

The deposit amount for car finance is never static because it is about several options to fund your car purchase. Every choice has a particular demand. A car loan has a minimum 10% deposit amount while the personal contract plan may or may not demand the same. Zero percent finance has a big deposit amount, but that is not fixed and is applicable according to the financial conditions of the borrower. All the car finance deals in Ireland have different requirements on this part. You need not to worry about anything because we explain everything to you before the final deal.

Car finance Vs Car loans

Usually, our borrowers have a misconception about car finance and car loans. The most prevalent misconception is that they both are similar, but we break this myth with a rational comparison between the two. Here is a contrast between car finance and car loans to help you understand both.

Car finance Vs Car loans

Car Finance

Car Loans

Car finance is the bigger picture that includes various types of borrowing options for car buyers such as hire purchase, 0% finance etc.

Car loans are the smaller unit and a type of car finance. They are one of the options car buyers use to make their purchase possible.

Car finance gives you more than one option to borrow money for this critical decision.

Car loans are the single financial product with an interest rate and repayment policy.

You have varied choices on the part of deposit through as there are several funding options. Some options have no deposit requirement such as zero percent finance.

You do not have multiple choices on the deposit part. Minimum 10% amount of the total car price is required as the advance payment.

Perhaps the above comparison is sufficient to show you the difference between car finance and car loans. A borrower should always have adequate knowledge of the available funding options. Financial literacy is still a strong weapon to make safe financial decisions.

Why choose CurrentFinanceLoans for car finance?

Based on our features as an online lender, you can take your decision. Below is the mention of several points that display our qualities as a lender and also our car finance features.

  • Apply online through the paperless procedure
  • Car finance for both commercial and personal use
  • No penalty for up to two delayed payments
  • Car finance for unemployed across Ireland
  • Redesign your repayment plan during the tenure
  • Get a personal relationship to manage to process the application
  • Borrow money for new as well as used cars
  • APR up to 8.43% with flexible repayment plans
  • Explore all the options despite poor credit score
  • No fee, no hidden charges, no additional costs

CurrentFinanceLoans is dedicated to making your car purchase convenient and affordable. The finance options available with us are easy to avail because we not only offer money to you but also relatable solution to explain which option is best for you. Get in touch for best car finance deals, and we can indeed find an appropriate solution.

Car Finance FAQs

How to get guaranteed car finance in Ireland?

To get a quick loan in Ireland, you will have to fill out the application form online and submit your bank statement. Based on your financial condition, the lender will transfer money directly to your account.

How can I get used car finance Ireland?

You can explore the online finance options to obtain funds for a used car purchase. CurrentFinanceLoans provides the same everywhere in Ireland without any location preference for discrimination.

How to find car garages that do finance for bad credit people?

You need to look for online hire purchase options available in Ireland. To get funds from your desired lender, you need to first confirm from the garage if the lender has authorized them through the hire purchase or not.

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