Volume and value of car loans in Ireland hit record highs  

BPFI says more than 16,000 car loans were drawn down in the first quarter as CSO data shows new and second-hand car sales grew growing in that period 

The value of the average car loan during the first three months of the year stood at was €12,901. 

The volume and value of car loans have reached record highs during the first three months of the year with over 16,000 drawn down, new data shows.

According to figures from the Banking and Payments Federation Ireland (BPFI) between January and March 49,770 personal loans were drawn down with a combined value of €551m.