4 important tips for a car loan

A car is expensive, and it is not always possible to cover the purchase price out of your own savings. Therefore, it is sometimes necessary to think about a car loan. There is a large offer in this regard, but there are also a few things to consider. We have put together four important tips for you so that you can enjoy your new car for many years!

Cheap financing through the dealer

Cheap financing through the dealer

It is often the case that the car dealer works with a bank; large corporations have even founded their own institutes. This means that when you conclude a contract, you also receive the car loan “from a single source”, so to speak. These offers can be cheap – but they don’t have to be. It’s no secret that car dealers have guidelines regarding the cars to be sold. Towards the end of the year, you therefore have the chance to get really cheap loan terms, as the dealer is primarily interested in selling the car. Nevertheless, we expressly point out that a credit comparison is definitely appropriate – read also point 4!

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the period

the period

It is clear that the monthly rate is lower if you choose a long term of the car loan. However, it must always be weighed up in individual cases how long you should repay. After all, buying is not always about a new car, and if you buy a five-year-old car, you should also adjust the term to the expected lifespan. Or do you still want to pay for a car that you no longer own? It goes without saying that you have to consider in advance whether you can afford a loan at all. There are also many interesting articles on this topic on our site!

Assuring reassured

Assuring reassured

Imagine you take out a loan, drive your new dream car – and suddenly you slide off the road on black ice. In the worst case, the car can no longer be repaired, but the loan still has to be serviced. It is therefore important and sensible to take out at least partial comprehensive insurance and also to think about fully comprehensive insurance. Get a variety of offers, all-round protection may not be as expensive as you fear, and you can get in the car with ease every day.

Compare, compare, compare!

Compare, compare, compare!

NEVER accept the first offer you get for car finance. As I said, the market is big and there are a number of banking institutions that are happy to welcome customers. Therefore, you should definitely compare the credit conditions, the installment amount and the other expenses exactly before the final decision. You don’t have to make a pilgrimage from bank to bank – you can do this comparison conveniently from home on the Internet. You enter some key data – loan amount, age, income situation – and in the next step you get an overview of the current offers of the different banks. This gives you a good basis for making your decision.

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