It used to be when you are applying for a car loan, that the Garage has to fax an Invoice to the Financial Institution and then the draft is released in the name of the garage. This is probably still the case if the loan is secured on the car.
I actually got a "car loan" from AIB as well, where the money was transferred into my account, but in my case it was a personal loan for a car as opposed to an actual car loan secured on the car. PGD, if you check your documentation, you may find the same applies.
The car loan used to only apply on cars up to 1/2 years old and if you want a loan on anything older, it goes the personal route. This would cover the Bank in case you default, the car is repossed and sold off. I could not see them giving a "car loan" on nothing without any security to back it up Thats why the rates for personal loans and car loans are different.