The banks may not be lending but Renault is. Since its launch in September 2011 Renault Finance has lent €33 million to both individual and business customers.
Based at Renault Ireland's HQ in Dundrum, Renault Finance was set up to make motor finance more accessible and to date has an 80 per cent approval rate on loans for passenger and commercial vehicles.
"We are a bank and we are lending to Irish customers," said Alessandro Garzia of Renault Finance. "We understand the difficulty consumers are facing in obtaining credit and we bring a real solution for Renault customers, both business and retail.
"Eight out of 10 people are being approved for loans on new vehicles. We provide finance packages to suit the needs of our customers along with fantastic offers such as our current 0 per cent APR offer."
The 0 per cent APR offer is available across the Renault Mégane and Fluence ranges until the end of this month.