7% Promotional Car Loan Rate

7% Promotional Car Loan Rate

Promotional Car Loan Rate of 7% (7.23% APR)

As of the first of January St. Michael’s Credit Union is delighted to announce our new special car loan rate of 7% (7.23% APR)! This special rate will be available to members for a limited time, during the months of January, February and March 2017.  With a car loan with St. Michael’s Credit Union you own your car from the first day! A car loan with us doesn’t have any of the dangers included in Personal Contract Plans (PCP).

An example of a car loan during this period is as follow;

This information is correct as of 20/12/2016.

If you would like to get an estimate of your loan please use our Loans Calculator; here.

The benefits of a car loan with your credit union;

  • From day one you own your car!
  • Absolutely no fees or hidden charges.
  • There is no need for large payments like a deposit or a balloon payment at the end.
  • No limits on the mileage you can drive.
  • You aren’t tied to the one car dealership.
  • Interest is charged on the reducing loan balance, so you pay less interest with each repayment!
  • No penalties if you clear your car loan early.
  • If there are any issues or difficulties you can talk to a local friendly member of staff and not an impersonal call centre.
  • Life assurance on your loan at no direct cost to members.

Making the car buying process as upfront and easy to understandable as possible for members. Providing our members with a complete understanding of the situation that helps prevent members becoming confused or worried about the small print or hidden details!


Terms and Conditions

In order to qualify for our special Car Loan rate of 7% the following terms and conditions must be satisfied and maintained throughout the life of the loan.

Terms and Conditions;

  • The minimum value of the car loan must be €5,000 and the maximum is €25,000
  • The loan must be for the purchase of a car, motorbike, van or the repayment of a PCP balloon payment
  • The loan must be issued in a cheque or EFT to a Simi or non Simi dealer
  • The loan cannot be issued for any other purpose
  • The maximum loan term is 5 years

Other terms and conditions may apply in some cases.

For further information please contact St. Michael's Credit Union;

Telephone: 021 435 7771

Email: info@stmichaelscu.ie

Or you can get in touch on Facebook or Twitter.


7% Car Loan Rate Extended!
Our Car Loan v PCP