With credit facilities often hard to obtain in the current economic climate, you should only borrow for essential purchases. If you can afford to buy a car with cash, you should do so. Falling into arrears on a car loan can seriously affect your credit rating. This in turn can affect your chances of getting a mortgage or other major impact loan.
If you are in a situation where you need to buy a car and car finance is the only option, then it can pay to shop around.
The credit unions are offering personal loans which can be used to purchase a vehicle.
The banks are offering car loans, which may take the form of personal loans or hire purchase agreements.
Most car dealers offer loans which are essentially hire purchase agreements. You do not own the car until the final payment is made.
These are important factors to consider when thinking of taking out a car loan.
Bank of Ireland are currently offering a variable rate loan, with the option of making extra payments to clear your loan early.
You can borrow between €300 and €65000
You can choose to repay over 1 to 5 years
Other conditions apply.
Don't forget to obtain a quote for great value car insurance too! Here>>
If you are thinking of buying a second hand car get a vehicle history check before you buy; more>>
For more information or to apply online follow the link. 
