Winsome is considering borrowing $10,300 over seven years to buy a new compact SUV valued at $23,500 drive away. Winsome has been offered a trade-in value of $13,500 on her current vehicle. She believes that, with the lower registration, insurance, servicing, and fuel costs of a new, smaller vehicle, she will save approximately $675 a year on her vehicle operation expenses over each of the next 7 years. Winsome has been looking at the finance contracts available to her from alternative banks and credit unions. She has had the following annual interest rates and loan establishment fees quoted to her for a car loan (compounding and repayments are monthly): 7.35 per cent per annum, application and processing fee $150; 7.65 per cent per annum, application and processing fee $125; and 7.05 per cent per annum, application and processing fee $250.

What are the loan repayment and which option is the best loan?