Did you know that the majority of cars on our roads were financed? That these are bought on a pump and only gradually paid? Overall, it is estimated that nearly half of all cars could not be paid for on their own. But with the prices, which are partly called for, that is no wonder. Tens of thousands of euros are not uncommon. In addition, many financing around the purchase of a vehicle is very lucrative, so many vehicle contents do not even understand why they should spend their savings on it. They prefer to invest this in more profitable forms of an investment than to put it in a car that has already lost value when it drives off the yard at the car dealer.
At the dealer or at the bank?
All this information and thought games sound very good. But how do you actually get a car loan? And where can this be taken?
In principle, two large contact points are available for borrowing. For one thing, this is the car dealer, who immediately conjures up a suitable loan offer and never tires of emphasizing that this offer is certainly the best. On the other hand, there are also the many banks and savings banks, which are very happy to help out with a car loan, since the financed car is an excellent security. So how do you decide when the offers are so diverse?
Use a comparison
If there is enough time, it is always worthwhile to clarify the question of the best possible loan with the help of a settlement. Because a comparison can show the advantages as well as the disadvantages of the individual offers quite clearly. The car dealerships work in many cases with so-called balloon financing. This presupposed a down payment, which then goes into fixed monthly installments. The last installment is the closing rate, which is relatively large and can be several thousand euros. Depending on the value of the vehicle. The advantage of a balloon financing lies in the very low interest rates, which sometimes even completely waived. The disadvantage lies in the down payment and the high final rate.
By contrast, banks and savings banks rely on full financing and therefore offer a classic installment loan. This comes with interest rates that are higher than the car dealer. This can be seen as a disadvantage of this type of financing. The advantage, however, is that neither a deposit nor a high final installment must be made.
With the help of comparison, these aspects can be very well balanced against each other. A good comparison is possible among other things under Amparo. The website lists many “financiers” in a clear table and shows all the distinctive features of each offer quite clearly. So it can be immediately recognized whether a car loan is desired under these conditions or rather not. In addition, it is linked directly to the corresponding offer, so that you do not have to search the internet for the offer for a long time.