Anyone looking for a car loan today will notice that there are an awful lot of providers on the market. Banks, loan offices and garages have a range of possible solutions ready to make the purchase of a car. Most lenders split their products into two categories. For example, there is car credit for new cars on the one hand and for young second-hand cars on the other. If you are planning to buy an older car, you will have to take out a personal loan .
How much can you borrow within a car loan?
In addition to the car, there are of course a few other costs that you must pay immediately to be allowed on the track. For example, you must apply for a number plate, take out car insurance and registration taxes apply when the car is taken into use. To accommodate this, you can borrow up to 110% of the purchase amount of the car from most banks and lenders . With this extra 10% you can cover the other costs. To calculate the exact amount, first request a quote from the garage. You also need this quote to apply for your car credit. Add 10% to the total amount of the quotation and you know exactly how much you can borrow.
The big advantage of a car loan
A car loan is the ideal way to buy the car of your dreams. We often lack the budget to buy what we really want. We buy the right car, but an older one, one with fewer options or a model smaller than we actually want. Thanks to the credit, you don't have to. Because the car is paid in the longer term, we can drive around with our dream car today without first saving for years.
Where do you take out a credit for your car?
Your own bank, the garage and many other lenders have included this product in their offer. In order to find the cheapest solution that perfectly matches your requirements and wishes, it pays to compare the different credits in advance. Here you can request loan quotes for your car. Always choose the same amount and term to make a correct comparison.