If a new car is needed, then the question of financing often arises. In Germany, many consumers rely on a car in everyday life, making a purchase For the most part, no delay is tolerated. In such a case you will find the first best offer. However, it makes sense – regardless of whether balloon financing, car or installment credit – to first deal with the current car loan interest rates before making a choice.
Direct financing by the dealer
Many car dealers themselves offer different financing, which they propose as particularly favorable. The zero percent financing is such a dealer loan, which does not include an interest surcharge; ie the purchase amount is paid off in installments over any term. First and foremost an attractive offer, however, every car buyer should be well informed before signing the contract, because not every zero percent financing is really free. The dealer’s calculations must be understandable to the buyer to avoid paying unconsciously hidden fees, such as a processing fee for the loan or a residual debt insurance. In addition, this option is often only for expensive action models and should encourage the prospective buyer to quickly buy or contract, so that he does not ask otherwise.
But there are also a variety of car loan offers, which are awarded both by direct banks, as well as by online banks. Every consumer should weigh for themselves which offers better fit their needs. Regardless of which financing you choose, a look at the internet is always worthwhile.
Advantage in the bank: cheap car loan interest
Through the car loan, consumers get quickly and easily to the necessary funds and can pay off the loan amount in comfortable installments. The only risk is guessing the rate. However, if all running costs are factored in, then a good estimate of the monthly budget available for the loan can be made.
A car loan from a bank offers several advantages over dealer financing. Many car dealers offer cash discounts to discounts at high discounts. A car loan makes it possible to benefit from such actions because you can pay cash after receiving the loan amount. The loan can also be used to finance any model.
A smart move: compare car loan interest rates
Before deciding on an option, you should make a comparison of car financing. Because a credit comparison, as it is offered today by countless comparison platforms, is useful to get a detailed overview of the current car loan interest rates. At The Car Loan, the loan comparison is free and non-binding, which means that no credit is required. In addition, he provides information about the APR, which indicates the total cost of a loan. More information about buying a car through online brokerage platforms can be found here.
Anyone who makes a loan comparison for the purpose of buying a car should first take a close look at the respective interest rate offers. In addition, however, other criteria should also be included; For example, the term, the terms of payment of the credit and security aspects also play a major role.
If you decide after the comparison for a dealer financing, you can use the facts from The Car Loan credit comparison to negotiate with the car dealer “on equal terms”. So you can also secure the favorable conditions with car dealers and even negotiate additional services, such as winter tires or free inspections, etc. More tips on saving money when buying a car can be found here.