What is the cheapest bank rate for a car loan in Ireland?

The necessity of a car for any family is undeniable. Having a car is necessary for every family but the biggest problem for most people today is the high cost of owning a vehicle.

Though most people would rely on a car loan taken from a bank or from any other financial institution, it would be very important to first ensure that the interest rate that would be charged on your loan would be an affordable one.

In Ireland, borrowers will have plenty of options available which can make it even more difficult to find the right car loan.

What is the best way to find the cheapest car loans?

The best possible way to find the cheapest possible car loans in Ireland today is by taking help from some of the online specialist loan companies. Money Expert, Auto Trader etc are the websites where you will be able to find quotes from dozens of lenders in the market.

What makes things easier is that these websites will find the cheapest loans for you and then provide you all the options. Since the information is provided in easy to understand comparison charts, you would be able to compare all the options you have to find the best possible car loan for your financial condition.

Which are the cheapest car loans in Ireland today?

Car loans are provided by several different banks as well as finance companies today. Companies and banks like Finance Direct, Bank of Ireland, Car Finance, First Active and Ulster Bank all offer car loan products to their customers.

However, if you are looking for the cheapest possible car loans then the top three choices in the market currently are Tesco Finance, AIB and Halifax. Tesco charges an APR of 6.9% which is the cheapest in the market currently. AIB offers car loans at 7.9% while Halifax offers an APR of 8.1%.

Although the differences may seem to be quite marginal, you should know that even a point difference in the interest rate can actually sum up to be a substantial amount in interest payments in the end.

For this reason it would be very important for you to ensure that you find the cheapest possible car finance for your next purchase.