Car Loan Options

My friend is trading in her old car to buy a new one costing approximately €13,000 which will have to be funded by a loan. There are so many options with the different instituitions its difficult to pick one. She wants the loan over say 5 years with the option to pay a little bit more every now and then off the loan. Any suggestions? Any help would be greatly appreciated!

Have a look at best buyshttp://www.askaboutmoney.com/showthread.php?t=22787. on car finance. Then check out whether the preferred lender will : 1. allow add'l payments. 2. Not charge a penalty for overpayments ( some do as they lose interest if the loan is paid off early). A friend has an AIB car loan where he overpays it regularly without penalty.

If you get a Term Loan from a bank you should be able to make additional payments. If you are directed to AIB Finance or BOI Finance, subsidiaries of the big banks you will find that these are set up differently to the bog standard flexible, local branch loans.