Car loan comparison 02/2020 – take cheap car loans online

For some, the car is just something useful that takes you from A to B. Others, in turn, fulfill their own personal wish with a new car. No matter what you buy the car for, you should compare the loans with Good Finance in advance and only then decide on a car loan. Because the possibilities for vehicle financing are very diverse and maybe even impenetrable for one or the other. We help you with the optimal, personal car loan and show you relevant information that needs to be considered with a car loan. More of this story: http://tascnets.com/low-income-bad-credit-car-loan-see-our-fast-loans-for-bad-credit-for-car/

We have the right financing for almost every car in comparison. Choose a loan amount between 500 – 100,000 dollars with terms between 12 and 120 months. Simply use our free loan calculator and find your cheap car loan.

Good Finance Tip: Use our free car loan comparison and get an offer from several banks and providers. Make sure that you choose the intended use for new or used cars. We have special providers in our loan comparison that only offer car loans and can, therefore, offer particularly low-interest rates.

What needs to be considered with a new car loan?

What needs to be considered with a new car loan?

Wrong financing can cost a lot, especially for a new car. Because you have probably heard of the fact that the car loses value directly when it is first registered. The car is worthless in one fell swoop with a registered owner than with an empty vehicle registration document. For this reason, you should not get the best car loan for a new car but get several offers beforehand. With our loan comparison, you can do this with just a few entries.

At Good Finance you will also find special car loans, which are offered at more favorable terms than an installment loan. This results from the hedge against the loan provider with the car as equivalent. However, this does not mean that you always have to deposit the vehicle letter with the bank. In our car loan comparison, you will also find numerous banks and providers who leave the vehicle letter to you. The annoying back-and-forth shipping of car papers is a thing of the past with such a car loan.

But why should I now finance the new car with a car loan through Good Finance and not through the dealer directly? In a brief comparison, we show you the greatest advantages, which is why you should opt for an online car loan:

In summary, it can be said that you have to keep the price of a new car as low as possible in order not to pay unnecessary costs for a car loan. You can achieve this with a cheap car loan, on the one hand, you can benefit from the cheap car loan interest and on the other hand, as a cash payer, you can reduce the purchase price. Dealer financing often lacks this negotiating position, which is why car loan from a dealer is often more expensive than would be the case with an online car loan through Good Finance.

What should you watch out for with a used car loan?

What should you watch out for with a used car loan?

The new car doesn’t always have to be a new car. Depending on the life situation, the car is only needed for a certain period of life or you simply do not want to spend as much money on a new car. Used vehicles are very suitable for such cases. Because these are also available with low mileage at very good conditions.

But here, too, a car loan comparison should definitely be carried out before purchase, so that you do not have to pay unnecessarily much for car financing for your new used car. Of course, you also have all the advantages that you have with a new car loan with a used car.

Whether new or used cars, the lowest possible purchase price counts for you. Because this is often also the amount of credit you need to take out for the car. In a sample calculation we want to show you the savings potential that you can realize with an online car loan through Good Finance:

Good Finance Tip: When buying a used vehicle, pay attention to the offers with day registration or demonstration vehicles. Cars with day registration usually have very low mileage and often only a previous owner. Car dealerships sometimes have to meet quota requirements and therefore allow certain vehicles to enter the car dealership. With demonstration vehicles, you usually get a car with high-quality equipment at very favorable conditions.

With this example, you can quickly see how much you can save with an online car loan. Due to the high discount that you can negotiate as a cash payer, you have to take out a significantly low loan and therefore have to pay almost 5000 dollars less in total.

Don’t be tempted by low-interest rates on the part of the trader. In our example, we have an eff. The interest rate of 0.87% pa assumed, compared to an online car loan of 1.87% pa – but the interest is not a purchase decision for you! Always pay attention to the total costs when car financing. As a rule of thumb we can give you on the way: the lower the purchase price, the lower the car financing.

What forms of financing are available for a car loan?

What forms of financing are available for a car loan?

A car loan is not always a car loan. Depending on your personal preference, you can purchase the car with an installment loan for constant monthly installments, or make initial or final payments. In the following we will show you the different types of car financing:

Dedicated car loan online: As you probably know, banks and loan providers always want collateral for their loans. In addition to your credit rating, the new vehicle also serves as security for a car loan. Although the value of the vehicle drops immediately after the initial registration, the bank has a countervalue for the repayment of the car loan in the event of a garnishment.

A car loan is therefore associated with fewer risks for banks, which is why often a favorable interest rate can be granted for a special-purpose car loan. Such car loans are often linked to the maximum age of the vehicle. Therefore, check the acceptance criteria of the respective provider before applying for a loan.

Online car loan: We always advise you to first check a dedicated car loan before you choose an online car loan. Basically, this is an installment loan with free use, which you then simply use for car financing. However, some providers also offer a low-interest rate for used vehicles. You often have to resort to this financing option if the car to be financed has already reached a certain age and can no longer be financed through a dedicated car loan.

Balloon financing: Balloon financing sets a specific term and a final installment at the end. The advantage of this auto financing is the low monthly loan installments. However, consumers are often overwhelmed with the final installment and ultimately cannot pay it at one go. A new loan then often has to be taken out (follow-up financing or debt restructuring) in order to continue to be able to service the financing. So don’t be fooled by the initial small monthly installments. Always pay attention to the total loan costs!

Leave a Reply

Your email address will not be published. Required fields are marked *