Ireland Car Loan Calculator
PCP, hire purchase or car loan — the monthly repayment alone doesn’t show you the full picture. Enter your vehicle price, deposit, and APR to see your total cost of credit, compare two finance deals side by side, and calculate your Revenue civil service mileage allowance if you use the car for business.
Enter Your Vehicle Price & Deposit
Choose PCP, hire purchase, or car loan, then enter your vehicle price and deposit to see the amount financed. Add a PCP GMFV balloon to calculate depreciation-only monthly repayments.
Set Your APR & Finance Term
Enter your Annual Percentage Rate and term to see your monthly repayment and total cost of credit. Toggle business use to calculate your Revenue civil service mileage allowance by engine size and distance band.
See Your Full Cost Breakdown
View your total cost of credit, full amortisation schedule, early repayment savings, APR benchmark against Irish market rates, and a side-by-side comparison of two finance deals.
Car Finance Calculator
PCP · Hire Purchase · Car Loan · Repayments · Schedule · 2026
Hire Purchase (HP): You pay a deposit + fixed monthly repayments on the car's full value. The finance company owns the car until the final payment is made, at which point ownership transfers to you. No balloon payment, no kilometre limits. A documentation fee (€63.49) and purchase fee (€63.49) typically apply — added to the first and final payments respectively. HP is regulated by the Central Bank of Ireland. Per CCPC.
Vehicle Price & Deposit
APR & Finance Term
Business Use & Revenue Mileage
Business use vehicle?
If you use this vehicle for business, Revenue allows tax-free reimbursement at civil service mileage rates based on km driven, engine size, and distance band. Rates are per kilometre (not per mile as in the UK).
Finance Summary
Based on a €25,000 vehicle, €5,000 deposit, and €20,000 financed over 48 months at 6.30% APR (Hire Purchase).
Your monthly repayment is €0. Total cost of credit: €0. Total repayable: €0.
CCPC — Car Finance | Revenue — Civil Service Mileage Rates | Central Bank of Ireland — Consumer Hub
Last verified: April 2026 | BoI HP: 5.85% (EV) · 6.3% (other) · Revenue mileage rates effective from Sept 2022
Repayment Schedule
Annual schedule — Irish car finance uses standard monthly reducing-balance amortisation. In the early months, the majority of each repayment covers interest; this shifts toward capital as the balance reduces. The outstanding balance falls fastest in the latter half of the term.
Under the Consumer Credit Act 1995, you have the right to settle a hire purchase or personal loan early. An early settlement fee may apply. For HP/PCP, obtain an early settlement figure from your lender. Per CCPC.
| Year | Annual Repayment | Capital Repaid | Interest Paid | Balance |
|---|---|---|---|---|
| Calculating… | ||||
Interest Breakdown
Interest charges reduce each month as the outstanding balance falls — the reducing-balance method used by Irish car finance lenders. Settling early or making extra repayments saves the most interest in the first half of the term.
Annual Interest Paid
Capital vs Interest Split (Annual)
| Year | Opening Balance | Capital Repaid | Interest Paid | Closing Balance |
|---|---|---|---|---|
| Calculating… | ||||
APR Benchmark
Compare your APR against current Irish market rates. Always compare the full APR (Annual Percentage Rate) — not just the monthly repayment — as it includes all mandatory fees and charges. Use the CCPC car finance calculator to compare real offers side by side.
Rate Comparison
Use the CCPC car finance calculator to compare real Irish market deals side by side. Bank of Ireland offers the most competitive HP rates for non-EV cars at 6.3% APR fixed; Avant Money offers Ireland's best fixed-rate personal loan at 6.7% APR (>€30k per CCPC). Manufacturer PCP deals can go below 5% APR — always check the total cost of credit, not just monthly repayments. A documentation fee of €63.49 (and sometimes a purchase fee of €63.49) applies to most HP/PCP agreements and is included in the APR. Car finance is regulated by the Central Bank of Ireland. Per CCPC.
Compare Two Finance Deals
Deal A mirrors your main calculator. Adjust Deal B to compare — e.g. a Bank of Ireland HP offer vs a personal loan, or a manufacturer PCP deal vs standard HP. Same loan amount used for both.
Side-by-Side
| Metric | Deal A | Deal B | Difference |
|---|---|---|---|
| APR | — | — | — |
| Term | — | — | — |
| Monthly Repayment | — | — | — |
| Total Interest | — | — | — |
| Total Repayable | — | — | — |
Adjust Deal B settings to compare.
For educational purposes only. Monthly repayments are calculated using standard monthly reducing-balance amortisation: PMT = P × [r(1+r)^n] ÷ [(1+r)^n − 1], where r = monthly rate (APR ÷ 12) and n = term in months. This is representative of most Irish HP and car loan products. Actual repayments will differ based on lender documentation fees, purchase fees (€63.49 each is common), and exact APR offered.
Revenue mileage rates shown are the civil service rates effective from 1 September 2022 (current as of April 2026). These are applied per kilometre by engine size and distance band. Always verify current rates at Revenue.ie. Not financial or tax advice. Car finance is regulated by the Central Bank of Ireland — always check your lender's full credit agreement before signing.
Warning (statutory): If you do not meet the repayments on your hire-purchase agreement, your account will go into arrears. This may affect your credit report, which may limit your ability to access credit, a hire-purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.
Car Finance Types in Ireland
PCP, Hire Purchase, Car Loan — how each works, who owns the car, and what fees apply
According to the CCPC (Competition and Consumer Protection Commission), car finance in Ireland is regulated by the Central Bank of Ireland under the Consumer Credit Act 1995. All lenders and credit intermediaries (including dealerships arranging HP or PCP) must be authorised and registered. The three main consumer finance options are PCP, Hire Purchase, and Car Loan.
| Finance Type | How It Works | Who Owns the Car? | Monthly Cost | Best For |
|---|---|---|---|---|
| PCP Personal Contract Plan | Pay deposit + monthly repayments on the car's depreciation only. At the end (typically 36 months), pay the GMFV balloon to own, return, or part-exchange. Kilometre limits apply. Documentation fee (€63.49) typically applies. | Option at End | Lowest | Drivers who change car every 3 years; those wanting lower monthly payments; new car buyers |
| Hire Purchase (HP) Most common via dealers | Pay deposit + fixed monthly repayments on the car's full value. Finance company owns the car until the final payment. Ownership transfers automatically. Documentation fee (€63.49) + purchase fee (€63.49) typically apply. No km limits. | Automatic ✓ | Mid | Buyers who want to own the car outright; high-mileage drivers; those wanting simplicity |
| Car Loan (Personal Loan) Bank / Credit Union | Borrow from a bank or credit union — own the car from day one. Unsecured: lender cannot automatically repossess the car. No km limits, no balloon. Borrow €2,000–€75,000. Term: up to 7 years (EV) or 5 years (petrol/diesel) typically. | Immediate ✓ | Mid–High | Good credit borrowers; those wanting full ownership from day one; flexibility to sell |
PCP kilometre limits in Ireland: PCP agreements include an agreed kilometre limit (typically 10,000–20,000 km/year). Exceeding this triggers excess kilometre charges at contract end — typically 5–15c per excess kilometre. On a 3-year PCP at 10,000 km/year, if you drive 18,000 km/year: 24,000 excess km × 10c = €2,400 lump sum due at return. Always choose a realistic kilometre limit. The GMFV (balloon) is set based partly on the agreed mileage — a higher km limit means a lower GMFV. Per CCPC.
HP/PCP documentation fees: A documentation fee of €63.49 is standard on most Irish HP and PCP agreements (payable with the first repayment) and a purchase fee of €63.49 applies to HP (payable with the final repayment). These fees are included in the APR calculation and must be disclosed. They do not apply to 0% APR promotional finance offers. Per Bank of Ireland Finance, AIB Finance & Leasing, and VW Financial Services Ireland. Always confirm fees with your dealer before signing. Per Central Bank of Ireland.
Source: CCPC — Car Finance | Central Bank of Ireland — HP and PCP Explainer
Ireland Car Finance Rates & Consumer Rights
Current Irish market APRs, Central Bank regulation, and CCPC consumer protections
Per the CCPC, all car finance agreements in Ireland must state the APR (Annual Percentage Rate), the total amount repayable, and all fees before you sign. Use the CCPC car finance calculator to compare offers. Car finance is regulated by the Central Bank of Ireland under the Consumer Credit Act 1995.
| Lender / Product | APR (April 2026) | Type | Notes |
|---|---|---|---|
| Bank of Ireland Finance HP — Electric Vehicles (BEV) | 5.85% APR | Hire Purchase (fixed) | Fixed rate for the agreement duration. Min finance €7,000. Max term 10 years (car ≤10 years old at end). Documentation fee + purchase fee €63.49 each. Available at dealerships. |
| Bank of Ireland Finance HP — All Other Cars | 6.30% APR | Hire Purchase (fixed) | Fixed rate. Same terms as above. One of the most competitive non-EV HP rates in the Irish market. Available at BOI-approved dealerships. |
| Bank of Ireland Personal Loan Green / EV car loan | from 6.5% APR | Personal Loan (variable) | Variable rate. EV and plug-in hybrid only. €2,000–€75,000. Up to 7 years. You own car from day one. Option to defer first 3 monthly repayments. |
| Bank of Ireland Personal Loan Petrol / diesel car | from 7.1% APR | Personal Loan (variable) | Variable rate. Up to 5 years. €2,000–€75,000. |
| Avant Money / An Post Money Best fixed personal loan rate | 6.7% APR | Personal Loan (fixed) | Best fixed rate on personal loans >€30k per CCPC (March 2026). An Post: 6.9% APR on €20,000 over 5 years. Regulated by Central Bank of Ireland. |
| AIB Finance & Leasing Hire Purchase | ~8.78% APR | Hire Purchase (fixed) | Fixed. Documentation fee €63.49. Available through AIB-approved dealerships. HP and PCP no longer available to apply for directly with AIB — must apply through a dealership as credit intermediary. |
| AIB Personal Loan Car loan | ~8.95% APR | Personal Loan (variable) | Variable rate. Typical example: €15,000 over 4 years = €369.26/month. Total cost of credit: €2,724.48. |
| VW Financial Services Ireland PCP — used cars | 4.9%–6.9% APR | PCP (fixed) | Range across VW Group brands (VW, Audi, Škoda, SEAT, CUPRA). Acceptance fee €75 + completion fee €75. Manufacturer 0%–3.9% APR promotions available on selected new models. Regulated by Central Bank of Ireland. |
Your Rights (Consumer Credit Act 1995)
- ✓APR, total amount repayable, and all fees must be disclosed before signing
- ✓10-day cooling-off period after signing a credit agreement
- ✓Right to settle early (obtain an early settlement figure)
- ✓HP: right to terminate and return car if you have paid at least half the total hire-purchase price
- ✓Complain to the Financial Services and Pensions Ombudsman (FSPO) if you have a dispute
- ⚠Check if your dealer is a registered credit intermediary at the Central Bank register
Tips for Getting the Best Rate
- ✓Compare APR — not just monthly repayments — using the CCPC calculator
- ✓Consider a personal loan from your bank — often more transparent than dealer finance
- ✓A larger deposit reduces the amount financed and total interest
- ✓EV loans: dedicated green rates are lower (from 5.85% HP / 6.3% EV loan)
- ⚠Manufacturer 0% APR deals may have conditions — always check the total amount repayable
- ⚠Commission: dealers may be paid a commission by the lender — you can ask for details
Source: CCPC — Car Finance | Central Bank of Ireland | Bank of Ireland Finance Rates
Revenue Civil Service Mileage Rates (2026)
Tax-free mileage reimbursement rates per kilometre by engine size and distance band — effective from 1 September 2022
Per Revenue.ie, employers can reimburse employees tax-free for business travel in their personal vehicles at or below the civil service mileage rates. Unlike the UK (which uses a flat 45p/25p per mile), Ireland uses a tiered system based on engine size and distance band accumulated in the tax year. Rates are in cent per kilometre. Electric vehicles use the 1201cc–1500cc band rates.
| Distance Band | Up to 1200cc | 1201cc–1500cc (incl. Electric Vehicles) | 1501cc and over |
|---|---|---|---|
| Band 1 0–1,500 km | 41.80c/km | 43.40c/km | 51.82c/km |
| Band 2 1,501–5,500 km | 72.64c/km | 79.18c/km | 90.63c/km |
| Band 3 5,501–25,000 km | 31.78c/km | 31.79c/km | 39.22c/km |
| Band 4 25,001 km and over | 20.56c/km | 23.85c/km | 25.87c/km |
Example — 10,000 km/year, 1201–1500cc engine: Band 1 (0–1,500 km): 1,500 × 43.40c = €651.00. Band 2 (1,501–5,500 km): 4,000 × 79.18c = €3,167.20. Band 3 (5,501–10,000 km): 4,500 × 31.79c = €1,430.55. Total annual allowance: €5,248.75. Kilometres accumulate from 1 January each year. Electric vehicles use the 1201–1500cc band. A logbook recording date, destination, business purpose, and km for every journey is required. Employers who reimburse at or below these rates pay no PAYE on the payments. Per Revenue.ie — Civil Service Rates.
Reduced Mileage Rates (per km)
Reduced rates apply for work-related journeys that are not solely for job performance — e.g. attending approved conferences, training courses, or promotion competitions.
Source: Revenue.ie — Civil Service Mileage & Subsistence Rates | Rates effective from 1 September 2022 (current April 2026)
Consumer Rights — CCPC & Central Bank of Ireland
Your legal rights when taking out car finance in Ireland under the Consumer Credit Act 1995
Car finance in Ireland is regulated by the Central Bank of Ireland under the Consumer Credit Act 1995. Your key rights are enforced by the CCPC (for credit intermediaries and general consumer issues) and the Financial Services and Pensions Ombudsman (FSPO) for disputes with regulated lenders.
| Right | Detail | Authority |
|---|---|---|
| Pre-contract disclosure | Before signing, the lender must provide a Standard European Consumer Credit Information (SECCI) form disclosing: APR, total amount repayable, repayment schedule, all fees, and any security required. | Central Bank of Ireland |
| 10-day cooling-off period | You have 10 calendar days from the day you receive the signed credit agreement to withdraw, with no reason required and no penalty, provided you have not yet taken possession of the financed goods. | CCPC |
| HP early termination | Once you have paid at least half the total hire-purchase price (including all charges), you may return the car and end the agreement. You remain liable for any damage beyond fair wear and tear. | CCPC |
| Early settlement | You can settle any HP, PCP, or personal loan early by paying the outstanding balance. Request an early settlement figure from your lender. A settlement fee may apply. Per Consumer Credit Act 1995. | Central Bank of Ireland |
| Commission disclosure | If the dealer arranges your finance, they may receive a commission from the lender. You have the right to ask about the commission paid and how it may affect the rate offered to you. | CCPC |
| Disputes and complaints | If you have a complaint about your lender that is not resolved, you may complain to the FSPO (Financial Services & Pensions Ombudsman) — free and independent. For credit intermediary issues: CCPC. | FSPO / CCPC |
Always use the CCPC car finance calculator before you agree to any deal: The CCPC car finance comparison tool allows you to enter details from competing offers and compare total cost of credit side by side — including all fees. In Ireland, car finance APRs vary significantly between lenders: Bank of Ireland HP at 6.3% versus AIB at ~8.78% on €20,000 over 4 years represents a difference of approximately €800 in total interest. Always get the credit agreement in writing and read it fully before signing. The statutory warning: "Warning: If you do not meet the repayments on your hire-purchase agreement, your account will go into arrears. This may affect your credit report."
Source: CCPC — Car Finance | Central Bank — HP and PCP Explainer | FSPO — Financial Services Ombudsman
Ireland Car Finance Formulas
Monthly repayment, PCP GMFV, Revenue mileage, and total cost of credit explained
Standard reducing-balance amortisation used by Irish HP and car loan lenders. Each repayment covers monthly interest first, then reduces the outstanding balance.
P = loan · r = monthly rate (APR ÷ 12) · n = months. Example: €20,000 at 6.3% APR / 48 months → PMT ≈ €472/month. Total cost of credit: ~€2,672.
PCP finances only the depreciation — the vehicle's current price minus its Guaranteed Minimum Future Value (GMFV). The GMFV is deferred to term end.
where PV_gmfv = GMFV ÷ (1+r)^n
GMFV = the agreed buyout price. Lower monthly as you only finance the depreciation. Kilometre limits affect the GMFV set at the start.
Irish civil service rates are tiered by distance band within the tax year (1 Jan–31 Dec). Bands accumulate sequentially — you move to the next band after exhausting the previous one.
+ min(max(0,km−1500), 4000) × Band2Rate
+ min(max(0,km−5500), 19500) × Band3Rate
+ max(0,km−25000) × Band4Rate
1201–1500cc Band 2 rate = 79.18c/km (highest common rate; also applies to EVs). Tax-free if at or below civil service rates.
The Total Cost of Credit (TCC) is the full amount of interest and fees you pay over the agreement — the difference between the total amount repayable and the amount borrowed.
Total Repayable = P + TCC
Example: €20,000 HP at 6.3% / 48 months. Monthly = €472. Total = €472 × 48 = €22,656. TCC = €2,656. Fees (€63.49 × 2) add an additional €126.98 included in APR.
HP vs PCP — real cost comparison on a €25,000 car, €5,000 deposit, 6.3% APR, 36 months: HP: monthly ≈ €601 · total interest ≈ €1,640 · you own the car. PCP (€10,000 GMFV, 6.3% APR): monthly ≈ €426 · total paid in payments ≈ €15,336 · GMFV to own = €10,000 · total to own = €30,336 (deposit + payments + GMFV). Handing back = €20,336. PCP has a lower monthly payment but the total cost to own is similar to or greater than HP. If you plan to keep the car, HP or a car loan is typically more cost-transparent. Always compare the total amount repayable — not just the monthly payment. Per CCPC — Car Finance.
Source: CCPC — Car Finance | Revenue — Civil Service Mileage Rates | Central Bank of Ireland
Frequently Asked Questions
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About this calculator
This calculator provides estimates for educational purposes. Interest rates and fees vary by lender and are subject to approval. Rates shown are indicative only and updated regularly but may not reflect current market conditions. Always verify rates directly with lenders before making decisions.