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Over €100m has been lent by Renault Finance to Irish motorists in the past 12 months. Renault's own bank Renault Finance, in the country just over two years, has lent the money in retail financing in Ireland to its 6,000 customers.

The company said that it has seen an increase of 100pc in finance applications for the same period last year. A new maximum two-hour decision time has also been introduced on all finance applications.