• You own your car with a Credit Union car loan as soon as you hand over the money to the garage. With hire purchase you do not own the car until the last cent is paid on the agreement.
• If you have difficulties making your repayments you can talk to the Credit Union, we will not reposess the car or make you sell the car. On a hire purchase agreement if you fail to keep the repayments up to date your car can be repossessed at any time.
• With a Credit Union loan you have more options if you encounter difficulties by being able to sell the car or trade down. With a hire purchase agreement you do not have this flexibility.
• Credit Unions do not charge documentation, completion or any other fess on your loan. Under a hire purchase agreement documentation, completion and other fees are usually charged.
• Credit Union loans benefit from free insurance and are cleared in full in the event of your death or permanent disability. By contrast, similar insurances must be purchased under hire purchase agreements, thereby adding to the cost.

Almost a third of all car buyers secure a loan from their Credit Union, making it one of the most significant sources of motor lending finance.

Naas Credit Union has one of the best car loan rates available. View our rate here ...