If you want to buy a car, you need some important documents. But that is often not enough. Because the most important thing is the small change required for a new car.
If financing is necessary, a comparison for a car loan is necessary. Of course, someone could have the car financed through the dealer, but it can be expensive.
Before that, you should have some papers before you can think about buying. First of all, the identification documents must, of course, be available and of course a valid driver’s license. That should usually be enough to buy a car, although a comparison should be made for a loan beforehand.
Because this credit has to be approved in order to get even cheaper prices from the dealer. When paying in cash, a discount can still be negotiated, which of course can save a lot.
A comparison is so important because a lot of money can be saved here. Sure, everyone could ask their own bank, but that has a lot of disadvantages. Because, of course, the house bank will only offer its own products, which may not be the cheapest.
Buy a car through financing
This is normal today, but there are a few things to consider here. First of all, the amount of the sum is important, in order to then start a correct comparison.
The duration is also crucial since the monthly rate is also decided here. Only when all of this has been determined can a comparison be started. Then the cheapest banks are displayed, where a loan application can be made directly online. It is important in the car loan comparison that some documents are already available. This includes the identity documents and, of course, proof of earnings.
Then the bank will start a Credit score query because online banks also need collateral. It is also queried whether other loans may be running. If this is the case, your own income must first be recalculated before the comparison. Another advantage, at a bank, the term can be determined by yourself, so that there is no big hole in the household budget.
Banks also pay close attention to this when lending. Security is very important to the banks because of course, they want to get their money back. In addition, their earnings also depend on this, because banks naturally earn money on every loan.
Finance through the dealer
Financing through a dealer is another option, but financing would be much more expensive here. Traders usually have very high-interest rates, which would then only unnecessarily increase a loan. The monthly payments may sound low at first, but based on the term, they are always higher than at a bank.
Therefore, the car purchase from a dealer, preferably in cash. So a good discount can still be negotiated, which will make the car a few hundred euros cheaper.
You cannot avoid a comparison for a loan
If you want to buy a car, you cannot avoid a comparison for a loan. This is the only way to save a lot of money. Even if the house bank attracts very good conditions, the car loan comparison should be made. Because financing at the house bank to buy a car is often more expensive than is the case with online banks.
Of course, the house bank will not recommend this, because the bank’s customer advisor also earns money on a loan. In the same way, the advisor only knows the products of his own bank, which is completely different when compared.
Different banks were tested here and then listed accordingly. Of course, the cheapest bank is at the top, although some important information is also given. So the comparison should be made directly, for a cheap car loan.