Enquire with Bank of Ireland Finance today and let us help you get motoring.
Bank of Ireland Finance
Bank of Ireland Finance is part of the Bank of Ireland Group and is one of the leading providers of car finance in the Irish motor industry. Partnering with major motor brands, we have decades of experience helping customers choose the right finance option when purchasing a new vehicle.
We offer a range of flexible finance plans designed to make buying your electric vehicle simple.
A smooth online finance application journey
Our platform is seamlessly connected with Nevo, so you can research your vehicle and apply for finance directly. This smooth digital connection gives you an immediate application, instant updates, and a fully streamlined digital experience. We have worked alongside our franchise partners to offer competitive APRs (Annual Percentage Rate), helping you get value on your chosen finance plan.
With our platform now available on Nevo, you can:
Compare finance options across all electric vehicle brands to find the vehicle that suits you best.
Explore affordability and estimated repayments upfront, before you ever step into a dealership.
Apply for finance online, in minutes, from the comfort of your home.
Complete your application securely with Bank of Ireland Finance. Your finance application is completed directly on the Bank of Ireland Finance system, ensuring a secure, trusted, and seamless experience from start to finish.
What happens after I submit my application on Nevo.ie?
After you submit your application, you will receive instant email communication from us keeping you updated and informed at every step. If your application is approved, your chosen dealer will get in touch to finalise the figures, review any trade in options, and agree your preferred car specification. You can also contact your chosen dealer at any point to talk.
Explore our finance plans and find the option that works best for you.
Personal Contract Plan (PCP)
Fixed monthly payments with options at the end
Personal Contract Plan (PCP) is a type of hire purchase agreement where Bank of Ireland buys the car on your behalf and hires it to you for a fixed term at a fixed interest rate. Unlike Hire Purchase, part of the car’s price — the Optional Final Payment, also known as the Guaranteed Minimum Future Value (GMFV) — is set aside and not included in your monthly repayments.
How PCP Works — Three Key Parts
01. Deposit or Trade In
You begin with a deposit which is paid upfront and you can also include your trade-in if you like
02. Fixed Monthly Repayments
Your monthly repayments stay the same throughout the term , covering only the financed portion of the agreement plus interest at a fixed rate. Because the Optional Final Payment is not included in your monthly repayment calculation, payments remain more affordable.
03. Guaranteed Minimum Future Value (GMFV) or Optional Final Payment
At the start of the agreement, your chosen dealer sets the GMFV, which is the amount you pay at the end of your contract if you decide to own the car. It’s determined based on your:
Annual mileage
Agreement length
Expected condition of the vehicle at the end
The GMFV gives you clarity upfront and is payable if you decide to keep the car.
Your Choices at the End of PCP
01. Trade it in for another vehicle
You will have the option to trade in your vehicle. You can do this at any dealership of your choice. If the value of the vehicle is more than the GMFV or Optional Final Payment You will have money to put towards a deposit on your next vehicle.
02. Buy the car by paying the GMFV
In order to fully own your vehicle, after all your monthly payments have been paid, you have to pay your optional final payment or GMFV. Until you make this final payment you do not own the vehicle.
03. Return your vehicle back to the original dealership
If you choose this option, you must bring the vehicle back to the original dealership. They will do a complete assessment of your vehicle. This option is subject to the kilometre limits and the condition of the vehicle set out in the wear and tear document.
Hire Purchase (HP)
Straightforward finance with ownership at the end
Hire Purchase is the simplest form of car finance. You pay a deposit, followed by fixed monthly instalments that cover the full remaining cost of the vehicle , and when the final payment is made,the car becomes yours .
How HP Works
01. Pay your deposit
02. Repay the balance in fixed monthly payments
03. Pick the repayment length that works best for you.
04. Own the car outright when the last monthly payment has been made.
HP has no mileage limits, making it ideal if you drive more frequently.
Terms and Conditions
Finance is provided by way of a consumer hire-purchase agreement by Bank of Ireland Finance. Lending criteria and conditions apply (over 18’s only). Ownership remains with Bank of Ireland until the final payment is made. Bank of Ireland trading as Bank of Ireland Finance is regulated by the Central Bank of Ireland.
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 report, which may limit your ability to access credit, a hire purchase agreement, a consumer hire agreement or a BNPL agreement in the future.
