For many car buyers who want to finance their car, the offers from the dealer banks are initially interesting. They offer low-interest rates and other interesting conditions. But does it really make sense to contact the dealer banks? Acting too quickly can cost a lot of money. Only the direct comparison between the banks brings clarity.
Get a car loan online with bad credit
A car loan online with bad credit is cheap. As with other commercial goods, the Internet is proving advantageous. The prices here are significantly lower than in the shops.
This applies not only to the purchase of goods but also to financial transactions, such as taking out a loan. Sometimes online banks also offer better conditions, so that a comparison can prove worthwhile. Because a car loan with the house bank can turn out to be expensive.
Cheap auto loans
In addition to the dealer banks, the conventional banks also offer auto loans. At first glance, their interest rates appear higher than those of the dealer banks. But if you opt for a car loan from your house bank, you gain a valuable advantage. The magic word is a discount.
Even today it is common practice for car dealers to offer a discount when paying in cash. This is where the advantage lies. If the car buyer chooses his car loan from the house bank, he gets this advantage. When buying, he leaves the money on the table for the dealer and thus receives a discount on the cash payment. If the loan is chosen from the dealer bank, the buyer waives this financial advantage.
It is certainly convenient to opt for the offers of the dealer banks. But this convenience comes at a price. Why should the car buyer forego the advantage that a loan with the house bank or with the online banks offers? Here valuable money is given away, which can surely be invested better elsewhere.