When it comes to the Irish car market for 2020, there are two big questions to ask: 1. Will you buy a new car or second-hand car? and 2. What power-source are you likely to purchase – diesel, petrol, hybrid or electric. Of course, one must not forget Brexit and the impact that may have on the car market in 2020.
A recent survey by the Irish Independent* points towards a reduced amount of diesel engine cars being purchased in 2020 but by a lower amount than last year. Should this outcome be true, it will keep diesel engine cars top of the pile. Also, there has been a peak in the purchase of petrol cars and a decline is also expected.
With the increase in carbon footprint awareness and initiatives to tackle global warming, there is an expected increase in the purchase of hybrid and electric vehicles in 2020. It was found that several more car manufacturers will be entering the market with a range of hybrid and electric vehicles which will increase competition and give the consumer a greater choice.
Here at First Choice Credit Union we cater for those wishing to purchase a petrol, diesel, hybrid or electric vehicle. Our car loan is straightforward, affordable and fair, with interest rates from 6.95%* (typical APR 7.18%), depending on the vehicle you are purchasing. Last year, we approved over 97%*** of all loan applications and we typically approve loan applications within 24 hours. When you arrange finance with us here at the credit union, you are effectively going as a cash buyer to the car dealer, and may well be able to negotiate a better deal. There are also other advantages, including fast approval, flexible terms and there will never be any hidden charges or fees.
For further information please email us at firstname.lastname@example.org or drop into any of our branches in Achill, Balla, Ballyhaunis and Castlebar. Alternatively, you can apply for a loan right now in a matter of minutes below.
*Irish Independent Survey: https://www.independent.ie/life/motoring/car-news/our-2020-sellers-survey-how-many-will-buy-new-car-what-fuel-will-they-choose-38771746.html
**For a €20,000, 5 year variable interest rate loan, with 60 monthly repayments of €395.56, an interest rate of 6.95%, a representative APR of 7.18%; the total amount payable by the member is €23,732.64. Representative example as at 18/12/2019.
**** Loans approved 1/10/2018 to 30/09/2019.