Motor Finance

If you are looking to finance your car purchase our Motor Finance product may be the most suitable option for you. Motor Finance has a fixed APR (Annual Percentage Rate) of 5.85%1 for new or used Battery Electric Vehicles (BEV’s)or 6.3%2 for all other new or used cars. You can finance amounts from €7,000 on our consumer hire purchase product which is easy to arrange.

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Features & Benefits

  • Finance amounts are from €7,000.

  • Finance terms from 2 years up to 5 years maximum for new or used Diesel, Petrol or Hybrid cars.

  • Finance terms from 2 years up to 6 years maximum for Battery Electric Vehicles.

  • Max term available depends on the age of car i.e. car cannot be more than 9 years old at the end of finance agreement.

  • Finance is provided by Consumer Hire Purchase only.

  • Interest rate is fixed for the duration of the agreement at 5.85%1 APR for battery electric powered cars and 6.3%2 APR for all other cars.

  • At the end of your agreement after all monthly repayments and the documentation and purchase fees at €63.49 each have been paid, the car belongs to you.

  • Bank of Ireland Finance organises payment with your supplying Motor Dealer3 on your behalf once an invoice is received.

WARNING: You may have to pay charges if you pay off a hire purchase agreement early.
WARNING: If you do not meet the repayments on your hire purchase agreement, 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.
1

Representative Finance Example: Finance Amount: €20,000 at a rate of 5.85% APR over a 5 year term will require 60 monthly repayments of €381.73. Total Cost of Credit is €3,030.78. A documentation fee of €63.49 and a purchase fee of €63.49 applies. Lending criteria and terms and conditions apply. Applicants must be aged 18 years or over. The information is for illustrative purposes only and does not constitute an offer. This is a Consumer Hire Purchase Agreement provided by Bank of Ireland Finance. Ownership remains with Bank of Ireland Finance until the final payment is made. Bank of Ireland trading as Bank of Ireland Finance is regulated by the Central Bank of Ireland.
2

Representative Finance Example: Finance Amount: €20,000 at a rate of 6.3% APR over a 5 year term will require 60 monthly repayments of €385.69. Total Cost of Credit is €3,268.38. A documentation fee of €63.49 and a purchase fee of €63.49 applies. Lending criteria and terms and conditions apply. Applicants must be aged 18 years or over. The information is for illustrative purposes only and does not constitute an offer. This is a Consumer Hire Purchase Agreement provided by Bank of Ireland Finance. Ownership remains with Bank of Ireland Finance until the final payment is made. Bank of Ireland trading as Bank of Ireland Finance is regulated by the Central Bank of Ireland.
3

The supplying Motor Dealer must be an approved Motor Dealer in the Republic of Ireland.

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