There are many factors to consider when looking for car finance. One of the main ones, however, is whether you should go down the road of PCP or go to your local Credit Union, in this case The Lough CU.

Having to think about the actual money side of things can give you a headache before you even start and take the fun out of getting that new car.

You’ll see what look like great offers, e.g 0% finance, and 1 hour approval while you wait BUT don’t get hoodwinked by this.

You won’t own the car until it’s all paid for. Don’t forget that balloon payment at the end either. Long story short. If this is the road you want to go down, make sure you have all your finances in order.

 

Getting a loan from the credit union is a much more positive experience. With competitive rates (ours is 7.23%APR!) and much more flexible repayment options. You can even pay the loan off quicker than intended if you want – something you CAN’T do with the Banks or PCP. The best thing? You own the car the second you buy it.

Benefits of a Credit Union Car Loan:

• No mileage limits
• No restriction on what type of car/van/motorbike you buy
• No penalties for early repayment
• and you own the car straight away

The good news?

A lot of people still think you need to have savings to borrow from the Credit Union, this is not true. To apply for a loan, all you need to do is become a member. You can apply for a loan the same day you become a member(*T&C’s apply). Loans are assessed on your ability to repay

 

Call us now to find out how you can get your hands on the keys of that car you really want 021 4963384 or loughcu.ie