Cars.ie: Our Guide to Car Finance - Yes Car Finance is still available in Post-Celtic-Tiger Ireland.

Whilst generally speaking the lowest rates are available from the manufacturers own finance company, don't be fooled into thinking the low rate that you see when you drive by the garage is available to all and sundry: often the Zero to Sub 5% offers are for only some [of the slower moving] new cars, and only for 50% of the value of the car over 1 or 2 years. In all reality all rates for car finance, in Ireland are in double digit APR's.

With the tightening of criteria allowing borrowers to get money from Irish Banks 2011 has seen more finance being given by the manufacturers finance company's, it was always very smart of those big German car manufacturers to own a few banks to finance their customers car purchases.

Whist some of the European Manufacturers, especially the German Manufacturers have their own banks providing a one stop shop for your car and finance at your local flagship garage, the car dealerships supplying Japanese and Korean Cars often provide 'branded' finance from Irish Banks - e.g. Kia & Nissan Finance is from Permanent TSB, Toyota Finance if by Bank of Ireland.

On 01 March 2011, we looked a various offers/APR's of some of the major banks and car financiers in Ireland, below is what we found on offer on their websites. We typically looked for a €25,000 loan on a €30,000 new car.

Finance Company	APR %	Fixed/Variable	Comments:
AIB	10.55	Fixed	Lease
AIB	9.6	Variable	Personal Loan
Bank of Ireland	9.6	Variable	Personal Loan
Permanent TSB	9.9	Fixed	Personal Loan
Volkswagen Bank	6.26	Fixed	90% Finance, New Cars Only, VW Bank also run finance for Audi