Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Please note that it is not permitted to have referral links posted in your signature. Keep these links contained in the appropriate forum. Thank you.

https://www.boards.ie/discussion/2055940817/signature-rules
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Can you part finance a car

  • 22-09-2015 8:11pm
    #1
    Specialun
    Registered Users, Registered Users 2 Posts: 3,068 ✭✭✭


    Ive my eye on a car for 18k

    Is it possible to part finance? Ie i pay 8 and finance for 10?

    How does the ownership work that way?


Comments

  • #2
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 84,762 ✭✭✭✭Atlantic Dawn
    M


    You would get a car loan for €10k, the car would be in your name.


  • #3
    bazz26
    Registered Users, Registered Users 2 Posts: 51,364 ✭✭✭✭bazz26


    Yes you can, you are basically just adding a higher deposit or trade-in. Not sure how the security aspect of the finance in that case works though.

    While a car or personal loan would mean the car is in your name, most likely the interest rate would be a bit higher than the hp interest rate.


  • #4
    Jayop
    Closed Accounts Posts: 17,388 ✭✭✭✭Jayop


    If you have 8k to pay I'm sure you could get a personal loan for the rest with the car as collateral. Would be cheaper than Finance.

    But then I haven't a fecking clue what I'm on about most of the time.


  • #5
    Ron Burgundy II
    Registered Users, Registered Users 2 Posts: 920 ✭✭✭Ron Burgundy II


    I did this with my current car. Part ex-changed a golf for €4k and added €4k cash to the deal. Took VW finance on the balance which at the time had a rate of 4.9% which is much better than credit unions or banks.


  • #6
    MetzgerMeister
    Registered Users, Registered Users 2 Posts: 19,885 ✭✭✭✭MetzgerMeister


    With the AIB at least, personal loans have to be under 10k. Anything equal to or above that is loaned out as motor finance or whatever it's being used for.


  • Advertisement
Advertisement