Car Loan

Thanks, Dicey.
In that case, is the current Tesco offer of 7.5% for a Fixed loan with "No set up fees, and NO EXIT PENALTIES" an absolute steal? Or is there a catch?
 
Centless said:
Last year when shopping around for a car loan I contacted the AIB and dealt with a person very keen to get our business. I cannot remember the exact rate quoted but the best they were willing to do was 3.5 or thereabouts! I then rang the EBS as we have a mortgage and managed to secure a rate exactly the same as our variable mortgage of 3.75 or thereabouts (even cheaper than a CU). Needless to say the AIB could not match this. Before anyone asks, it is completely seperate to our mortgage (it is not a top up) - I went to great lengths to prove this and even got an email from EBS stating that this was an independent loan and not tied to our mortgage.
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Just a question here.

I am currently looking at taking out a loan of 10k for a car. I was plannin g to take some equity out of my mortgage to do this. Mainly to get the prefered rate of 4.5% (I think it is now)

So are you saying I should go in and just demand the 7k for the 4.5% rate? I can see how it is better to pay it off faster than dump on the mortgage.

Thanks for the tip
 
"So are you saying I should go in and just demand the 7k for the 4.5% rate? I can see how it is better to pay it off faster than dump on the mortgage".

Thats the way I approached it - basically I had got quotes from a number of banks etc and said so to the EBS. None of the other quotes were able to touch it.
 
Go to your bank, and get a statement showing the loan is paid off. Then take that along with your divorce decree and go to your state's Department of Motor Vehicles and tell them your story. They will have procedures for this situation.
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Muthu



[broken link removed]
 
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