Don’t despair over car loans

There are ways for cash-strapped motorists to cut their losses and wind up a substantial car loan without suffering too much hardship, writes Dermot Corrigan.

21st February, 2009

The boom years saw many motorists take on the pressure of hefty car loans to purchase high-end vehicles. For many, the harsh lesson of the recession has been that affordability is a matter of cash, not credit.

‘‘It seems that there are plenty of individuals out there who, although it did not seem like they were doing that at the time, have put themselves under financial strains,” said Conor Faughnan, director of policy, AA Ireland....

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