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Car Finance - Who's best and cheapest?

Dinarius · 2003-06-06 07:10:43

I want to borrow about €18,000. 9.3% - 9.6% seems to be the standard range. Though BofI offer 1% less if you arrange the loan on the phone. Don't ask me why! Either way, it's staggeringly above the new base rate of 2%! Any suggestions? Many thanks. D.

06-06-2003 7:10am

#1

Dinarius

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I want to borrow about €18,000.

9.3% - 9.6% seems to be the standard range. Though BofI offer 1% less if you arrange the loan on the phone. Don't ask me why!

Either way, it's staggeringly above the new base rate of 2%!

Any suggestions?

Many thanks.

D.

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Comments

#2 06-06-2003 8:08am

Bard

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I suggest you ask the motoring issues gurus in the MIJAG forum.

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#3 06-06-2003 8:17am

Dinarius

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Don't think so. Looks like it's strictly about insurance.

Purchasing a car comes under the broad remit of Finance, wouldn't you say? ;-)

Thanks anyway.

D.

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#4 06-06-2003 8:18am

daveg

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When I got my car loan this year I checked all the rates on the banks website. I then rang AIB (currently had a car loan with them + all my banking - but not for much longer... ehm.. back on topic). AIB gave me a different rate (can't remember % off hand) which bet all the other banks.

My advice - do your homework then ring around.

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#5 06-06-2003 8:38am

dsab

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Permanent TSB has currently a rate for personal Loans of 8.6 %. You get this aret for every loan over 9000 Euro.

Cheers,
Daniel

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#6 06-06-2003 12:55pm

flav0rflav

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GE Captial Woodchester

They do a lot of car financing.

www.gecapital.ie

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#7 07-06-2003 9:35am

LoneGunM@n

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Personally, I'd stay away from loans from the finance houses [woodchester etc.] & stick with banks/building societies/credit unions. They tend to be a lot more flexible in their terms and the interest rates appear to be lower!!

My sis bought a car on credit from 1 of the big finance houses, but the repayments [due to the higher interest rate] killed off all her money. In the end, she got a loan from the credit union to cover the finance loan, with a lower interest rate & she was able to pay it back early ... with no early payback penalty !!

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