WITH many people looking to replace their car right now, Bantry Credit Union are offering a generous discount on car loans.
‘For the months of February and also July, the Credit Union has a discounted rate on car loans,’ says Bantry Credit Union CEO Finbarr O’Shea - down to 7% from a normal 9%.
The competitive rate applies to cars purchased from any main dealership or garage.
‘We always encourage our members to buy from garages in our area,’ adds Finbarr; an area that covers Bantry, Castletownbere, the Beara and Sheep’s Head peninsulas, Glengarriff and east as far as Ballingeary.
And, unlike the case with the many tempting hire-purchase offers, when you purchase a car using a Credit Union loan, you’re the owner from Day One.
‘People are seeing lower rates of interest on PCPs, but you must remember that with those arrangements, people don’t own the car,’ says Finbarr.
‘Ownership doesn’t transfer usually until the last payment. With a Credit Union loan, you own the car straight away and there aren’t any mileage or other restrictions.’
Another important aspect of which many are unaware is that all Credit Union loans are covered by a life insurance policy: a free service to members that gives immense peace of mind.
Bantry Credit Union CEO Finbarr O’Shea with Loans Officer Katrina Lynch and Lending & Business Development Manager Peadar Noonan.
‘Subject to some T&Cs, all loans are covered by a loan protection insurance policy which, in the event of the unfortunate death of a borrower, clears the loan,’ says Finbarr.
In order to avail of this car loan rate, people can call to the offices in Bantry or Castletownbere.
For those that can’t make it in, there is also an online option; very convenient for people from the area, for example, that have moved away.
‘People can call in and talk to our loans team –Lending & Business Development Manager Peadar Noonan or Loans Officer Katrina Lynch.
‘At Bantry Credit Union our mantra is, ‘Keep it Simple, Keep it Local, Keep it Personal’,’ adds Finbarr. ‘If you are buying a car and looking for finance, talk to Peadar or Katrina today.’
