advice on car loans

[DeclanP]

I was scouting the banks for a car loan today. The online quotations are generally the same although Halifax seemed to be offering the most attractive rates in terms of the total cost of credit. Then when I rang a couple of them including BOI and AIB they all promised to do better than the cheapest I could get without being specific. Any thoughts? Fixed or variable?

 

[QED]

Try Tesco Loans (on their web-site). They do 6.9% APR fixed and I don't think there's any penalties for paying off early. Ulster Bank provide the loans for Tesco.

You might want to check this out. It should at least give you a bit of bargaining power with your local high street bank.

 

[DeclanP]

Yep, www.tesco.ie is well worth checking out. For example a €10,000 car loan over 3 years fixed term is €307.53 per month compared to €324.80 with AIB and €314.03 with BOI. This will certainly be used as a bargaining tool with the other financial institutions.