Quickly calculate your monthly repayments and total cost of a car loan in Ireland.
Buying a car is a big financial decision, and most people in Ireland choose car loans to make it affordable. Our Car Loan Calculator helps you estimate your monthly repayments, total loan cost, and interest in just a few seconds. Whether you are comparing bank loans, credit union loans, or dealer finance, this tool gives you a clear picture before you commit. This Loan & Finance category also includes our detailed Car Loan Calculator page, where you can explore repayment options and total finance costs.
How This Calculator Works
Our Car Loan Calculator uses three key inputs to calculate your repayments:
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Loan Amount (€): The total you want to borrow for your car.
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Interest Rate (%): The annual percentage rate (APR) offered by your bank or lender.
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Loan Term (Years): The length of time you plan to repay the loan.
The calculator applies a standard loan amortization formula to give you:
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Monthly Payment – what you’ll pay each month.
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Total Payment – total amount repaid over the full term.
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Total Interest – the extra cost of borrowing compared to the loan amount.
This way, you can adjust the values and instantly see how changes in interest rate or term affect your repayments.
Important Information About Car Loans in Ireland
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APR matters: Always compare the APR between lenders, not just the monthly payment.
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Longer terms cost more: While longer loan terms lower monthly payments, they increase total interest.
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Early repayment: Some lenders allow you to repay early with little or no penalty—check the terms.
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Dealer vs bank finance: Dealer finance may seem convenient, but banks or credit unions can sometimes offer lower rates.
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Budget wisely: Always ensure your monthly repayments fit comfortably within your household budget.
Frequently Asked Questions (FAQs)
1. What is the average car loan interest rate in Ireland?
Interest rates vary depending on the lender and your credit profile, but typical car loan APRs in Ireland range from 5% to 12%.
2. Can I get a car loan without a deposit?
Yes, some lenders offer 100% finance, but having a deposit usually helps you secure a better interest rate.
3. Is it better to take a shorter or longer loan term?
Shorter terms mean higher monthly repayments but less interest overall, while longer terms reduce monthly payments but increase total loan costs.
4. Does this calculator show exact repayments from banks?
No. This is an estimation tool. Actual repayments will depend on the specific terms offered by your lender.
5. Can I use this calculator for used cars as well?
Yes, the Car Loan Calculator works for both new and used cars. Just enter the loan amount, interest rate, and term offered to you.