Flexible Car Loan

[DaithiMc2007]

Hi everyone,

I have reviewed the Best Buys Page and looked at the car loan options, however I wanted to know are there flexible car loans available that would allow lump sums to be taken off the capital at various stages (not pre-determined) throughout the loan term.

Thanks for any help!

 

[CCOVICH]

Have you had a look at loans on offer from Tesco?

They are at fixed rates, but have the flexibility that doesn't exist in most other fixed rate loans.

Otherwise have a look at any variable rate loans on offer-they don't have to be car loans specifically.

Whenever 'car finance' is mentioned, there is a good chance that you are entering into a Hire Purchase agreement, which should be avoided if possible im my view.

 

[demoivre]

[broken link removed] Flexible loan allows you to to pay off lump sums whenever you want subject to a minimum of €200 each time.

 

[BrenG]

Most variable rate bank loans will allow you to pay off lump sums at any stage and reduce the overall interest charge. However if you also need to adjust the original loan repayment this should be discussed separately with the lender.

 

[CCOVICH]

[broken link removed] Flexible loan allows you to to pay off lump sums whenever you want subject to a minimum of €200 each time.

There was previous discussion of how this loan may not be so flexible. GE may have sorted this out at this stage.

 

[demoivre]

There was previous discussion of how this loan may not be so flexible. GE may have sorted this out at this stage.

Interesting - personally would have no hesitation in following the necessary route to make sure that a financial institution operated within the T & C's of a loan agreement, which afaik, is legally binding on both parties.