Your old car is broken or threatens to give up your mind in the near future? Did you get a family addition and therefore need a bigger car? Or do you dream for a long time of a more comfortable vehicle, the sleek sports car or the spacious SUV? Whatever the reason, why you need a new car – for such a larger sum must be spent. This is currently not just available to you? This is not a problem! With a car loan, you can secure the financing of your car and can afford it right now.
A car loan is actually nothing but a installment loan . Depending on which bank you accept, the bank will grant you a loan amount in a pre-agreed amount. In addition to the loan amount, you specify further conditions in advance:
Some providers give special car loans. The crucial difference to the installment loan is that a car loan is earmarked – you use it for car finance – whereas you can have a installment loan paid out at leisure. By having a sufficient amount of money with the loan, buyers of a car can appear to the merchant as a cash payer and possibly negotiate discounts. At the Credit Borrower you can request your individually required loan amount in combination with the desired term online and without obligation.
To get a installment loan, applicants must meet certain requirements. This includes:
If you meet the conditions, you can apply to the bank of your choice for an individually required loan amount for your car purchase. The bank reviews the application and decides on the award of the loan.
As a rule, you can choose between the usual terms of an installment loan. These are usually between 12 and 120 months. With the Credit Borrower, you have the opportunity to repay your loan early with free special repayments. For example, if you have a larger amount of money to spend, you can also prepay the loan for your car, for example. In this case, you save yourself the payment of additional monthly installments including interest. Of course, you can also pay back several smaller sums. In this way, the term is shortened automatically and you are faster debt free.
When financing your car through a loan, you should be wise in ensuring a relaxed repayment of the borrowed money.
In addition to a loan, you have the opportunity to lease a new car. In this case, you will then pay the dealer a monthly rent for the use of the car for an agreed period. At the end of the lease, return the vehicle to the dealer. However, if you finance the car through a loan, then the car belongs to you, which is not the case with the lease option. If you wish, you can request a non-binding offer for leasing and credit and compare the costs incurred. So you get a good overview and can decide on the offer, which is more cost-effective with regard to your individual situation. Use now the installment loan calculator of the Credit Borrower to inform you without obligation about your desired credit and the terms.