You are at the ideal lending place to access the most reliable deals on car loans in Ireland. Today, we provide you with a car loan that matches your financial requirements, monthly budget, and financial circumstances. Whether you want to purchase a brand-new vehicle or a used car for personal or business purposes does not matter. We can assist you in lending affordable vehicle financing without hefty paperwork or legwork.
At 24fundsflow, you can get a car loan through a quick 3-minute online application. Once we have your loan requirements, we instantly call you and assign an obligation-free quote. We ensure that you get your finance on your terms.
€1000 - €25000
36 Months - 84 Months
5.37% (based on affordability)
A car loan is the type of financing offered during a vehicle purchase. People use this opportunity when they cannot purchase a car with their money. During this situation, they tend to approach a loan provider to borrow the desired amount before submitting the down payment. Later, they have to repay the borrowed sum and the prescribed interest rates for the agreed loan term in monthly instalments.
As a dependable private lender in Ireland, we suggest you analyse a loan deal carefully. You can compare our loans with any other deal in Ireland. Knowing vital facts before shopping for car loans according to your finances is critical.
You can apply for car loans in a secured or unsecured way. When you sign a secured car loan agreement, the lender will take your car as the loan security. You have submitted it as the loan collateral, and thus the lender possesses the right to sell the car if you cannot make the repayments in the agreed term. You can also opt for no deposit car finance on this arrangement.
On the other hand, if you opt for an unsecured car loan option, you are free from this worry as no asset is needed to secure the amount. In this case, the risk increases for the lender. Therefore, this type of car loan has higher interest rates than secured loans.
Our company usually deals in unsecured loans, but at the same time, the interest rates are always competitive, which are also affordable to you.
Car loans are of different types, and we cover all. The following options are available for any car-related financing requirement.
Used car – Used vehicles are usually cheaper than new ones. Hence, people prefer to purchase a used car as plenty of loan options are also available. Getting financed from a private online lender is a preferred choice in Ireland. This comes with multiple features and flexibilities. However, the fund applicant needs to follow several conditions for that, such as the car should not be older than 10 years at the end of the loan duration. Some lenders may keep it for eight years. Due to lower total cost, used car loans are affordable due to customisation. However, as compared to new car loans, these loans can be at a slightly higher rate of interest due to the depreciation factor in the case of used vehicles.
Buy new car – New car loans, as you know, are plentiful, and these days, electric and hybrid car loans are more popular. Considering the demand for sustainable vehicle options, new car loans are in high demand. Affordable rates and government-backed benefits on eco-friendly cars make car loans a profitable choice. These are called green car loans in Ireland. 24fundsflow provides predictable loans with bespoke offers as per your creditworthiness. Considering the factors like lower maintenance costs, warranty cover, and reliability in case of new vehicles, getting a new car loan can sometimes be more affordable than used car loans.
For car repair – These are unsecured personal car repair loans that provide funds for issues like clutch replacement, engine repair, bodywork after a car crash, etc. They are for short-term and small needs. Vehicle repair sometimes can be urgent and costly. Hence, an affordable loan can solve your problems. As a private online lender, we have digitised the loan process. Hence, you can borrow funds instantly online as per your repayment ability.
Describing how a car loan differs from car finance in Ireland is essential. Here is the fundamental difference between car loans and car finance.
Car Loans |
Car Finance |
|---|---|
| Applied from a Private Lender | Available from Car Dealers and Lender both |
| Unsecured or Secured | Mostly Secured |
| Flexible Interest Rates | Fixed Interest Rates |
| No Impact of poor credit scores | Usually, a good credit score required |
| Availability of Part-time Income | Approval only on Full-time Income |
You should not revise your decision to buy your dream car just because you lack enough funds. We have exclusive deals for you on car loans in Ireland. These are available with no issue of bad credit. Flexible repayments will help improve credit scores. Here are the loan benefits:
You get the most manageable rates with us on your car loan deal.
We do not charge anything in the form of upfront costs or ongoing fees.
We deal only online, and thus, you will have your loan on the same day.
You have a better chance of the lowest interest rates in Ireland if you purchase an electric vehicle.
You can choose the loan term or repayment option according to your financial situation.
Our quick and small loan application process suits everyone. One can apply from anywhere in Ireland.
You may have an easy deal on car finance with bad credit in Ireland. Still, you need to be careful in many aspects. 24funds Flow is there to help you with credible offers on bad credit car finance. We accept your loan application without any hassle, and the interest rates are competitive. However, we also expect some efforts from your end that may increase your chances of car loans with poor credit.
Keep an eye on the debt-to-income ratio: It is essential to your loan acceptance chances. If you have income but a higher debt-to-income ratio, you can only get a lower amount to borrow. Therefore, you should keep DTI lower than your monthly income.
Amount of car down payment: If you are applying for car loans with bad credit, try as much as possible to pay the higher down payment. It will decrease the lender’s risk as it has to offer only a small amount. In such conditions, we vouch for providing you with a car loan on more favourable terms.
Loan term: Most lenders prefer to offer small loans to those having less-than-perfect credit scores. They do not have to postpone lengthy to get back the allotted amount.
Your choice of an old or new car: The vehicle's age also greatly matters. However, you have loan approval chances on both new and used vehicles. Still, new cars have higher chances because of their better resale value.
Are you ready with your car loan planning? If yes, then submit your application now.
Availing of bad credit car loans is indeed a significant responsibility. Your repayments until the loan term can significantly impact your finances. Understanding and deciding how small or large an amount you are comfortable with repaying is essential. You should take much time to analyse it before obtaining a loan option.
Three factors determine loan repayments:
Based on these factors, the lender frames the monthly loan repayment. Remember, the monthly instalments will have both the principal amount and the interest rates. Since you have poor credit scores, repaying the loan on time is crucial. It can have a favourable effect on your credit score.
Getting the best deals and the lowest car loan rates in Ireland is simpler than you think if you follow the suggestions below.
Check your credit report – Your credit report should be spotless with no errors in it. For example, a bill payment that you have made but is still showing as pending on your credit report affects your credit score. Hence, check your report and get the errors rectified if any.
Find loan deals - Compare car loans in Ireland, whether it is a new or used car loan, or a repair loan. Plenty of options are available; we offer all types of loans that you can consider for your vehicle purchase or repair requirements.
Calculate your creditworthiness – It is important that you apply for a car loan for an amount that you can afford to repay. For that, check your credit purchase power. Only when you take care of your repayment ability is approval possible.
Get a loan pre-approval – You should take a loan pre-approval before applying for car loans. This gives fair reasons for comparison between loan offers. For example, some loans can have a lower interest rate while some may have a longer tenure and smaller instalments. Pre-approval does not include a credit check.
Apply for the loan as per your repayment ability – As per your credit purchase power, you can decide better what loan amount you should apply for. That improves approval chances considerably. This is why the suggestions to calculate creditworthiness are given above.
Negotiate if you find it necessary – In case of direct lenders, you have more flexibility to negotiate as compared to indirect lenders. Hence, once you are approved for funds, check your loan conditions and loan agreement carefully. You can bargain about the interest rate and other terms on practical grounds.
Several factors play a decisive role in calculating interest rates on car loans in Ireland. These are –
Type of interest rate – Fixed or Variable
Annual Percentage Rate – APR
APR includes interest rate as well as mandatory charges and fees that determine the total cost of borrowing. It is the actual cost of a car loan that gives you a clear idea about how much you will be paying till the end of the tenure. At 24fundsflow, we reveal the APR upfront.
Other factors affecting the rate of interest are –
For some prominent reasons, people today choose private online lenders over banks and credit union car loans. The reasons are clear in the table below.
Car loan features |
Private online lenders |
Banks |
Credit unions |
|---|---|---|---|
| Application speed | Speedy application and instant approval | Slower and lengthy application procedure | Slow process due to a mix of in-person and online process |
| Convenience | 100% online process | Partial paperwork and branch visit required | Required membership and brand visit |
| Credit flexibility | Flexible and acceptance of bad and fair credit score | Good credit history required. Low approval chances for bad credit people. | Moderate flexibility |
| Loan customization | Flexible loan terms and amount. | Stringent lending policies | Limited to policies made for members. |
| Approval time | Maximum 24 to 48 hours | Takes several days | Takes several weeks |
No, you do not need a guarantor to apply for a car loan. This is because it is already a secured loan; the purchased vehicle acts as security. In case of default, the lender can claim your car. Hence, a guarantor is not needed. Some lenders may offer this flexibility, as sometimes borrowers with a smaller deposit size may want this.