Car loan

Thinking of buying a hybrid, electric, petrol or diesel car?

Find the car loan to suit you.

 
 

Why choose us for a car loan?

Competitive rates

Variable rates from as little as 6.5% APR1 for electric and plug-in hybrid cars and 7.1% APR for petrol and diesel.

Tailored to you

Borrow between €2,000 and €75,000 and repay your loan weekly or monthly.

Choose your term

Repay your loan over 1 to 7 years (for electric or hybrid cars) or 1 to 5 years (for petrol or diesel cars).

Option to defer repayments2

Option to defer your first three monthly repayments if you repay your loan on a monthly basis.

Flexible repayments

Make extra repayments to pay off your variable rate loan early and pay less interest with no penalty fees.

Fast application

Online application takes just 15 minutes for existing current account holders registered for 365 online.


What do I need to apply?

To be eligible to apply online, you must be:

  • Aged 18 or over

  • Resident in the Republic of Ireland
  • An existing Bank of Ireland current account customer

To apply, you’ll need:

  • Your 365 online user ID – You can find it on your profile page within the mobile app.
  • Proof of your Personal Public Service Number (PPSN) – Full list of acceptable documents.

Please note: If you are a new customer you can call our loans team on
0818 200 334 (9am – 5pm, Monday – Friday) to apply. We may request additional documents depending on your individual circumstances and loan purpose. We request a credit report from the Central Credit Register when you apply for a loan of €500 or more. Lending criteria, terms and conditions apply.

 
Apply for a car loan



What is a green car loan?

A green car loan is a low rate loan we offer to anyone planning to buy a battery-powered electric or a plug-in hybrid vehicle. If you’re applying for a green car loan, you’ll also need:

Detailed quote/invoice from the seller

This should outline whether the car is a battery-powered electric vehicle or a plug-in hybrid vehicle. The quote must be dated within the past 6 months and the name of the seller and your full name and address (as it appears on 365 online) must be clearly visible on the document.


Interest rates and APR

These representative examples illustrate how much it could cost to borrow various amounts over 5 years.

Car loan

Loan amountVariable interest rateAPR(Annual Percentage Rate)Sample loan amountLoan termMonthly repaymentCost of creditTotal repayment
€2,000 – €9,9998.65%8.9%€2,0005 years€41.12€467.20€2,467.20
€10,000 – €19,9998.1%8.3%€10,0005 years€202.98€2,178.80€12,178.80
€20,000 – €75,0006.9%7.1%€20,0005 years€394.71€3,682.60€23,682.60

Variable rates are correct as at 5 February 2025 and are subject to change.

Internal reference rates

We apply reference rates to all new loans. The reference rate is an internal rate we use to work out how much it will cost us to give you a loan. It includes the cost of funds to the bank and administration costs for the set-up and maintenance of the loan.

VI0.25%

Please note: Your credit agreement explains all the interest rate types we charge for your loan. Lending criteria, terms and conditions apply. Over 18s only.

Green car loan

Loan amountVariable interest rateAPR(Annual Percentage Rate)Sample loan amountLoan termMonthly repaymentCost of creditTotal repayment
€2,000 – €75,0006.3%6.5%€2,0005 years€38.91€334.60€2,334.60
€2,000 – €75,0006.3%6.5%€10,0005 years€194.57€1,674.20€11,674.20
€2,000 – €75,0006.3%6.5%€20,0005 years€389.15€3,349.00€23,349.00

Variable rates are correct as at 5 February 2025 and are subject to change.

Internal reference rates

We apply reference rates to all new loans. The reference rate is an internal rate we use to work out how much it will cost us to give you a loan. It includes the cost of funds to the bank and administration costs for the set-up and maintenance of the loan.

VI0.25%

Please note: Your credit agreement explains all the interest rate types we charge for your loan. Lending criteria, terms and conditions apply. Over 18s only.

Frequently asked questions


  • What is a car loan?

    A car loan is when an amount of money is given to you by a financial institution which you can use to buy a new or used car. You agree to repay the loan amount plus interest to the financial institution over a certain length of time.

  • What is a green car loan?

    A green car loan is a lower rate loan we offer to anyone planning to buy a battery-powered electric or a plug-in hybrid vehicle.

  • Am I eligible for a green car loan?

    If you’re planning to buy a battery-powered electric or plug-in hybrid, you may be able to apply for a green car loan.

    To apply for a green car loan, you’ll need to provide a detailed quote or invoice from the seller outlining that the car you wish to purchase is either a battery powered electric vehicle or a plug-in hybrid vehicle.

    Lending criteria, terms and conditions also apply.

  • Can I apply for a green car loan and SEAI grant?

    Yes. You can apply for a green car loan if you are buying a battery powered electric vehicle or a plug-in hybrid vehicle. To find out what grants are also available to you, visit the Sustainable Energy Authority of Ireland (SEAI) website.

    Please note: Bank of Ireland is not responsible for the information on third party websites.


See our full loan FAQs

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, a hire-purchase agreement, a consumer-hire agreement or a BNPL agreement in the future

Contact us

Our loan teams are here to help.

Log in to 365 online, select Services and Send us a message.

Call us on 0818 200 334, 9am–5pm, Monday to Friday.

Tweet us @talktoBOI 8am–8pm. Response within 15 minutes.

Visit your nearest branch to arrange a meeting with a dedicated lending advisor.

1 APR stands for Annual Percentage Rate.
2 Deferred repayments: By deferring your repayments at the start of your agreement you will pay more interest over the loan term than if you started to make repayments from the start. Deferred repayments are available to Bank of Ireland current account customers only.