PCP Buster:
Lowest Car Loan Rate
Did you know that we loaned over €22 million last year to help our members buy cars? Apply for our PCP Buster car loan today and say goodbye to PCP Finance, and hello to simple and affordable repayments. You can use our handy calculator below to estimate your monthly payments and work out an affordable repayment plan. If you’re unsure about which car loan suits best, click here to read our handy guide
Say goodbye to PCP Finance
Personal Contract Plans made it appear that owning a new car was more affordable than ever because rather than financing the full cost of the car, you were financing a portion of it at lower monthly repayments. The downside was that you had to finance the deposit and the final balloon payment.
Our PCP Buster Car Loan is a great value alternative to PCP Finance. With our PCP loan, you can tailor your repayments to suit your budget and own your car outright, at one of Ireland’s lowest rates – 5.5% (5.64% APR). With PCP Finance, you’re essentially renting the car until you make the final payment, which can be a hefty sum, and you may also have to pay for mileage penalties, excessive wear and tear, and crash damage. Our PCP Buster car loan is a more flexible and affordable option that combines low monthly payments with the benefit of owning your car outright. Learn more about the differences between PCP Finance and our PCP Buster Loan here.
Why choose a CLCU PCP Loan
- 5.5% variable rate (5.64% APR)
- Join and borrow instantly - no waiting period required for members!
- No deposit required
- No balloon payment
- Own your car outright, from day 1 (unlike PCP finance)
- Tailor your repayments to suit your budget
- Borrow between 3 and 8 years
- Minimum loan value of €25,000 up to €80,000
- Free Loan Protection Insurance (T&C apply)
- No mileage restrictions
Low-Cost Loans
Over €52 million
High Approval
Fair Lending
Ready to borrow? Use our loan calculator to check your repayments and apply – not a member yet? You can join and apply in one go!
loan calculator
- Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future. If you are experiencing difficulty repaying your loan, or believe you may in the future, please click here.
- The average new car sold in Ireland now costs over €40,000, making the finance option you choose more important than ever. Even a small difference in interest rate can save thousands over the lifetime of your loan.
Similar Loans
Compare the rates:
We have compared a €40,000 loan over a 5-year term (60 months) with the main lenders in our locality [source: bonkers.ie 01/07/26]:
Lender | Monthly Repayment | Total Cost |
|---|---|---|
CLCU – PCP Buster | €764.00 | €45,843 |
AIB – Personal Loan | €823.56 | €49,413 |
Bank of Ireland – Personal Loan | €790.16 | €47,410 |
An Post Money – Car Loan | €786.40 | €47,184 |
PTSB – Personal Loan | €773.13 | €46,388 |
Plus, with a Croí Laighean Car Loan, you get free loan protection insurance and the money you borrow directly helps your local community.
Types of Car Finance Agreements
Car finance is a popular way to purchase a vehicle because it allows you to spread the cost of the vehicle and plan your repayments. There are different types of car finance options available, including Personal Contract Plan (PCP), Hire Purchase (HP), and a standard Car Loan. Each type of finance has its pros and cons.
Feature | PCP Buster | PCP Finance | Hire Purchase |
|---|---|---|---|
Own the car from day one | Yes | No | No |
Large final payment | No | Yes | Usually no |
Mileage limits | No | Yes | Usually no |
Freedom to sell the car | Yes | Limited | Limited |
Early repayment flexibility | Yes | May involve charges | May involve charges |
Personal Contract Plan (PCP) Explained
With the current shortage of used cars, and the advancements in hybrid and electric car technology, many people are considering purchasing a new car. A Personal Contract Plan (PCP) is a type of car finance that allows you to hire a vehicle for a period of time and then decide whether to buy it or give it back.
PCP Finance is often promoted by dealerships as an option for purchasing new and used cars, offering flexible financing options for different types of vehicles. The deposit can be made up of a cash payment and/or a trade-in of an old vehicle. The bigger the deposit, the lower the repayments will be. PCP finance offers lower monthly payments compared to other finance options, but you are kicking a large portion of the cost down the road in the form of the final GMFV payment.
To a lot of people, PCP Finance can be confusing, but here’s how it works:
(1) You pay your deposit and monthly payments. Often the deposit advertised is 30%, and this is to make the monthly payments look attractive and affordable.
(2) At the end of the contract, you have three options:
(i) Pay the Guaranteed Future Minimum Value (GMFV) payment to own the car. (ii) Give the car back. (iii) Take out a new PCP Finance agreement and pay the GMFV (balloon) payment, along with a deposit on a new car.
Please note: The deposit will be the difference between the market value of the car (what the dealer offers) and the GMFV. For example, if the dealer offers €17,500 for the car and the GMFV is €15,000, you will have €2,500 to contribute towards your new deposit.
When applying for car finance, you’ll need to provide information about your income, employment, and credit history. The dealer will use this information to determine your creditworthiness and decide whether to approve your application.
Whilst a PCP may look attractive on paper, you should always compare personal loans, consider your budget and financial situation, and research different lenders and their rates to find the best car finance agreement for you.
Hire Purchase (HP) Explained
Hire Purchase (HP) is a type of car finance that allows you to hire a vehicle for a period of time and own it outright at the end of the agreement. With an HP agreement, you make regular repayments over a term to cover the purchase price (minus your deposit) plus interest. It’s worth noting that as with PCP, you do not own the car until the last instalment is paid.
Our PCP Buster Car Loan
A Croí Laighean PCP Buster Car Loan is a more transparent option. You own the car from day one, and there are no hidden fees, no deposit, and no balloon payment. You can tailor the loan to suit your repayment ability, and you even get free loan protection insurance.
Here are some of the key differences between PCP Finance and a PCP Loan:
Here are some of the key differences between PCP Finance and a PCP Loan:
(1) With PCP Finance, you don’t own the car until you pay the balloon payment. With a PCP Loan, you own the car from day one.
(2) PCP Finance typically has lower monthly payments than a PCP Buster Loan, but with the PCP Loan, there is no deposit or final balloon payment.
(3) PCP Finance may have hidden fees, such as mileage charges and excess wear and tear charges. A PCP Loan does not have these hidden fees.
If you’re considering purchasing a new car, it’s important to understand the different financing options available to you. A PCP Buster Loan can be a more transparent and affordable option than PCP Finance. Check out our loan comparison guide to find out why you should choose CLCU for your next loan.
Here are some additional things to consider when choosing between PCP Finance and PCP Buster Loan:
Your budget: How much can you afford to spend on monthly payments?
Your plans for the car: Do you plan to keep the car for a long time, or do you want to upgrade in a few years?
With a Croí Laighean PCP Buster Car Loan, you get an incredibly transparent car loan with no hidden fees and you own the car from day 1. You can tailor the loan to suit your repayment ability and we even offer free loan protection* for extra peace of mind.
Electric Cars: Thinking of buying an electric car but you’re unsure if it will suit your needs? We asked a recent EV adopter to share their insights and let us know the pros and cons of their experience. Read the full post here. At Croí Laighean Credit Union, we offer a dedicated car loan for EVs and Hybrid Vehicles too.
Repayment Example
PCP Buster Loan @ 5.5%. A PCP Buster Loan of €25,000 over 5 years would cost €477.53 per month at a variable rate of 5.5% (5.64% APR). The cost of credit is €3,652 and the total amount repayable is €28,652. Variable rates may increase which would cause the cost of credit to increase.
While every care has been taken in the production of this web page, the Credit Union, or any of its staff, cannot be held responsible for any omissions, errors, or other mistakes on the site. This PCP car loan calculator is for illustrative purposes only, and to give you, the borrower, an overview of the potential cost of borrowing.
Rates are correct as of 1/07/2026 and are subject to change. Croí Laighean Credit Union is regulated by the Central Bank of Ireland.
How much can I borrow with a PCP Buster car loan?
How competitive is the PCP Buster Car Loan?
It’s a very competitive rate. Personal loan rates with the main banks vary from 6.8% up to 10% [01/07/26 – source: bonkers.ie]. Whilst some dealers offer 0% PCP, in many cases, this applies to specific models and variants. It’s also worth noting that with a PCP, you will have to pay a deposit, typically between 10% and 35%, and a balloon payment at the end (usually around 30%).
How is PCP so cheap compared to a standard loan?
With PCP, you’re only financing a portion of the car. If you pay a 15% deposit and the balloon payment is 30%, then you’re only financing 55% of the car cost. With a PCP Buster loan, you don’t need to save up a deposit or save for the final balloon payment. You spread the overall cost over a term that suits your repayment ability. Nice and simple.
What is Free Loan Protection Insurance?
Free Loan Protection Insurance means your loans are insured at no direct cost to you. Should a member with an outstanding loan balance die, the balance is repaid in full, subject to terms and conditions. Potential loan protection for members aged 70 years or younger, is up to €100,000, and up to €40,000 for members aged between 70-85 years. Terms and conditions apply.
Can I get approval and then shop around?
Absolutely! With our Credit Union car loan, you can get pre-approval and shop around like a cash buyer. This gives you extra leverage when trying to get a better deal.
where we serve
Everyone at Croí Laighean Credit Union is united by a Common Bond. If you live or work in any of the towns and communities below, you’re eligible to join — it’s common sense to keep it local.
Not sure if you’re eligible to join? If you don’t see your town listed, use the eligibility checker below
Towns & Communities We Serve
- Allen
- Allenwood
- Ballinabrackey
- Ballyfore
- Broadford
- Caragh
- Carbury
- Castlejordan
- Celbridge
- Clane
- Clogharinka / Clogherinkoe
- Clonbullogue
- Coill Dubh
- Confey
- Croghan
- Daingean
- Derrinturn
- Donadea
- Donore
- Drehid
- Dunbyrne
- Edenderry
- Johnstown Bridge
- Kilcock
- Killina
- Kilmeague
- Kilshanroe
- Leixlip
- Longwood
- Lullymore
- Milltown
- Mount Lucas
- Moyvalley
- Prosperous
- Rathcoffey
- Rhode
- Robertstown
- Sallins
- Staplestown
- Straffan
- Ticknevin
- Timahoe
Not sure if your address qualifies? Use the eligibility checker above — if you don’t see your town listed, get in touch and we’ll confirm.
Everything you'd expect from a bank. And then some.
