Car Loan Help!!!

ShriekingSheet

Hey guys- any help with this would be much appreciated!!

In buying a car for 11,000 euro, saving 7k and getting a bank loan for the 5k - what would my monthly repayments be like if i stretched it out?

Cheers!

Guy:Incognito

http://www.bankofireland.ie/html/gws/personal/get_loan/quick_quote/index.html

There you go.

ShriekingSheet

Thanks Ste!

much respect

Borzoi

Shop around for the best rate though - BoI can be far from the cheapest.

Tryhere for some comparisons

Also check your credit union - if a member. And remember that some banks have deals with professional societies, like NIB and the Institute of Engineers, that might suit you.

spongebob

And then haggle with teh BoI who can rollover if you have shopped around. BoI are quoting c 9% these days which is about 7 over Base (Base = 2%)

Lock them into a tracker where they guarantee 5.5 over base or 7.5% by haggling, you will need to get a supervisor for that. The better deals require minimum loans of 5k so if you only need 4.5k in the end you should throw some of it straight back in to them which is no problem if you are on a Variable loan.

M

deRanged

BOI also have lots of discounts available - I got 1.5% off the standard rate because I'm staff in UCC. It's worth checking to see if they have a discount that applies to you. Actually just getting the loan with 365 over the phone gets you .5 or 1% off.

eth0_

You're probably better off saving that 7k in the Credit Union, aren't they a huge amount cheaper for loans than any bank?

halkar

eth0_ , Credit unions can be cheap unless you pay in lump sums and clear quickly. Their standard interest is still 1% a month. Unlike banks, many haven't applied the interest rate drops to the loans. Though you have a lot of flexibility with them and you are saving.