I need to get a car loan for €5,500 and I’m looking for advice on the best way to go about it. Credit Union is not an option.
Is it just a case of looking up the Best Buys list to find the cheapest APR and going with that? I bank with BoI and have my mortgage with them and a relative is a branch assistant manager so I reckon I could give it a shot to get them to match the best APR – anyone have any experiences of similar?
Any opinions on whether fixed or variable would be best?
Also what would the normal length of such a loan be? I bought a house with my girlfriend 5 months ago and have been renovating it since and living at home but will have no problems paying the mortgage and bills on my current salary and I’m getting a 10k rise at the end of the month so can afford the car, but I don’t want to cripple myself to get it paid in a year. Would 2 or 3 years be the norm in this case?
Or do people make small payments with a view to paying the remainder off in one lump when you sell the car in a couple of years for an upgrade and take out a new loan for that?
Thanks
Is it just a case of looking up the Best Buys list to find the cheapest APR and going with that? I bank with BoI and have my mortgage with them and a relative is a branch assistant manager so I reckon I could give it a shot to get them to match the best APR – anyone have any experiences of similar?
Any opinions on whether fixed or variable would be best?
Also what would the normal length of such a loan be? I bought a house with my girlfriend 5 months ago and have been renovating it since and living at home but will have no problems paying the mortgage and bills on my current salary and I’m getting a 10k rise at the end of the month so can afford the car, but I don’t want to cripple myself to get it paid in a year. Would 2 or 3 years be the norm in this case?
Or do people make small payments with a view to paying the remainder off in one lump when you sell the car in a couple of years for an upgrade and take out a new loan for that?
Thanks