The consumer already gets cars with many discounts. This is due to the low demand, so that the high discounts arise. Nevertheless, it is not very cheap to buy a car then, especially not if it is a new car.
But not everyone has the money for a used car either, so people are increasingly asking for a loan to buy a car. Important information should not be neglected here. The choice is big because a loan to buy a car doesn’t always mean that it is the same model. Either an installment loan is taken out or the so-called three-way financing. Everyone should inform themselves in advance so that the right funding is taken up.
Free provider, house bank or car bank?
Automobile banks generally very often provide balloon financing. These usually also offer three-way financing. This funding is often tied to certain car models, so the car buyer would lose the freedom to choose. If you want to opt for a fixed monthly rate, you can take out the loan to buy a car from a dealer, from a free provider or from your bank.
Providers with zero percent financing don’t always have the cheapest deals. There are often costs such as administration fees and contributions for residual debt insurance. So not only the interest should be important in a comparison, but also the total costs that may arise in the financing.
Discounts as a cash payer
Anyone who applies for a loan from the house bank to buy a car will receive it. The borrower is thus a cash payer at the car dealer. Many are rewarded with this and receive discounts on the vehicle. There is no general answer to how high these are. However, not all retailers give these discounts, this should be clarified in advance.
Credit comparison saves a lot of money
A loan comparison is always worthwhile, even with a loan to buy a car. The interest rates are as different as the banks and everyone wants to win over the customer. So there are many offers and hardly anyone will be able to see through them. With the help of a comparison, the number of providers can be minimized, so that only a few are left to be shortlisted.