PCP Redemption Loan – 7.24% (7.5% APR) Variable

PCP Redemption Loan – 7.24% (7.5% APR) Variable

“Own your car straight away –

no balloon payments, no mileage restrictions!”

You can avail of Letterkenny Credit Union’s PCP Redemption Loan option to help break free from your PCP debt.

With an easy application process, fast approval and flexible repayment options you could be driving away with a new car in a matter of days.


 Why choose a Letterkenny Credit Union PCP Redemption loan?

  • You own the car outright from the beginning
  • No hidden costs or administration fees
  • No penalty for early payback, you can pay loan off early or make lump sum payments with no additional charges
  • Free life cover on your loan (subject to terms & conditions)
  • Low Cost Loan- affordable loans
  • Flexibility to repay your loan with terms of up to 10 years
  • Repayments to suit you – weekly, fortnightly, 4-weekly or monthly
  • Fast and efficient service


All we require is:

  • Proof of PPSN  (Payslip, document from  Revenue or Department of Social Welfare)
  • Photo ID- Current Drivers licence or Passport
  • Proof of your Address: A current utility bill
  • 1 recent receipt of any income you receive (this may include payslips, social welfare receipts, pension receipts).
  • If you are Self Employed we need your most recent Form 11 Notice of Assessment.
  • 3 months up to date bank statements, dated as close to the application date as possible, (your statements should show your income and any mortgage/rent or loan payments that you may have and be no older than 3 months)
  • Statement of PCP Debt.
  • A fully completed loan application form


Term & Conditions

  • Applications are open to all members of Letterkenny Credit Union Ltd.
  • We require BIC and IBAN for the PCP debt account as we make payments directly to clear the debt
  • Maximum term 5 years



Apply through your cu online members area

Apply through the Letterkenny Credit Union Mobile app

Apply in person



Should you have any queries contact our loans team


Phone: 074 91 02 126



PCP Redemption Loan Amount Term 60 monthly Repayments Total Amount repayable
€20,000 5years €398.31 €23,896.93

Representative example correct as at 02.06.2020

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 in the future.

Warning: This new loan may take longer to pay off than your previous loans. This means you may pay more than if you paid over a shorter term.