Slowly but surely the spring approaches. With him, the weather and road conditions improve. Cars and other motor vehicles are no longer wet and soon the last traces of road salt have disappeared. For some motorists then the ideal time has come to buy a new car.
But rarely do car buyers pay for their vehicle in cash. The majority, however, relies on vehicle financing. Here, the dealer financing is on the rise strongly: Meanwhile, the car dealerships are extremely active in arranging car loans.
It is simply convenient to complete the required car loan
There are several reasons why car buyers opt for dealer financing. One of them is the comfort offered. It is simply convenient to complete the required car loan directly from the dealer. An additional visit to the bank branch is omitted. In addition, the auto banks enjoy the reputation of being cheap.
Nevertheless, car buyers should not prematurely conclude a car loan in the car trade. Because auto banks do not necessarily offer the best financing. There are several reasons for looking around the market.
An interest rate comparison is mandatory
Car banks are not automatically cheap. Although they enjoy the reputation of offering cheap new car financing, this is not necessarily the case. Again and again, there are other banks that can offer similar conditions or even cheaper. If you want to buy a second-hand, you should first look around the market well.
In the end, there is no way around an interest rate comparison. Only when financing offers from several banks have been obtained and compared with each other, it is possible to say exactly where the most suitable car loan is available.
More flexibility in car financing
Incidentally, car financing is not just about the interest rate. While low lending rates are important, in the end, it’s about more. Especially the loans of the automotive banks are often relatively inflexible and often designed so that thick end is yet to come: Frequently, at the end of the financing period rich rates are due.
But this need not be, because in addition to the balloon financing significantly better financing options exist. It is also possible to pay off the new car continuously at low rates.
Possibility of cash payment
Also: If you finance at another bank, you can often have the car loan paid directly to your own checking account. This means not having to tell the dealer about car financing. Instead, it is possible to offer him the cash payment. It is again very popular with the car dealers, so that many agree to give a nice discount.
Partly, the discount is so much larger that it may even be okay to take out a car loan with a higher interest rate (compared to financing a car bank). In the end, everything is just a matter of calculation: it is only in a direct comparison of offers that you can see where most of the money is saved.
With us for low-interest car loan
You want to buy a car and are looking for a cheap and at the same time fair credit? We are happy to help! Our independent financing specialists will check for you which banks recommend their vehicle financing and where the best conditions are offered. Our advice is independent and free, so you can only benefit. If you are interested, we look forward to hearing from you about our car loan comparison.