Anyone looking for a car loan today will notice that there are so many providers on the market. Banks, loan bureaus and garages have a range of possible solutions available that can be used to purchase a car. Most lenders split their products into two categories. On the one hand there is car credit for new cars and on the other for young second-hand cars. When you plan 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 in order to be able to get on the road. For example, you must request a number plate, take out car insurance and registration fees apply when the car is taken into use. To meet this, you can borrow from most banks and lenders up to 110% of the purchase amount of the car. 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 loan. Add 10% to the total amount of the quote and you know exactly how much you can borrow.
The big advantage of a car loan
A car loan is the best 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 today with our dream car 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. To find the cheapest solution that perfectly matches your requirements and wishes, it is worth comparing the various loans in advance. You can request loan quotes for your car here. Always choose the same amount and period to make a correct comparison.