Car loan comparison: The cheap financing of your car

 

Car loan: financing opportunity for your car

The car gets no more TÜV? Or has offspring announced and the sports car must finally be replaced by a family carriage? High time to look for a new mobile pedestal. But new cars are expensive. Hardly anyone pays the cash. An alternative method of financing can be a car loan.

Without credit, a car is subordinate to most

Where do you get a car loan?

  • What to look for in car loan?
  • Which runtime is right?

A car loan is an alternative financing method for the purchase of new and used vehicles or for costly repairs of the own car. The difference to a conventional installment loan consists of three main features:

Car loans in comparison

Direct to car loan comparison

earmarking A car loan is earmarked, ie it is intended exclusively for financing in the motor vehicle sector
Security purposes The financed vehicle serves as security for the lender
paying out The loan installments are usually not paid to the borrower, but directly to the seller of the vehicle

Unlike leasing contracts , the big advantage of car loans is that car dealers often give hefty discounts when buying by credit. In some circumstances, such a rebate may even offset the cost of the loan, making car loan one of the best financing methods for buying a car.

The choice of the lender

There are several contact points for completing a car loan. In addition to the possibility to conclude a private contract with friends or relatives , also branch or direct banks give car loans, as well as offers usually also the car dealer the opportunity to conclude a loan agreement directly with him.

As collateral for the loan, the motor vehicle letter is usually deposited with the lender. The so-called chattel transfer serves as protection against default and allows the lender to sell the car if the borrower can no longer service the installments . With payment of the last installment, the owner of the car also gets the car letter back. At the same time, the assignment as a lender allows lenders to lend at very favorable conditions, since the risk of default is very low.

When lending a car loan, lenders demand certain collateral. In addition to the payroll as proof of a regular income, questionnaires for private expenses must also be filled in, as a rule, a query is also made at the Schufa . Only in rare cases is such a request waived.

No chance without full insurance …

In addition, banks usually require proof of comprehensive insurance for the approval of the application. But even if a comprehensive insurance is not a prerequisite for the granting of the loan, the conclusion of such insurance is advisable. Because if there is a claim , the credit can be replaced by the payment of insurance, which significantly reduces the risk of falling into debt.

Transparent conditions

Like any other loan, the conditions for a car loan can differ dramatically. Therefore, you should not fall back on the next best financing option when buying a car , but check exactly where and on what terms you apply for the loan. Important is a transparent presentation of the conditions and costs. The following points should be clarified:

  • Amount of the deposit
  • Amount of monthly installments
  • Term of the loan
  • Fees and interest (nominal interest, effective interest)
  • Loan amount and total costs

Only after considering all these points can a statement be made about how attractive a car loan actually is. Because many offers that seem cheap at first glance, on closer inspection with hidden costs.

Limit the duration

As far as the term of the loan is concerned, it should be chosen to match the lifetime of the vehicle and in no case exceed it. Usually, a car loan should not be paid for more than seven, but a maximum of ten years.

Of course, there is also the possibility of termination or early repayment of a car loan. It may even make sense to borrow a new and cheaper loan to replace an old loan. In such a case, of course, one has to take into account that the processing fee for the loan is not repaid.

By a legal regulation a termination during the fixed interest period / loan term is possible at the earliest after three months and then with a notice period of three months.

A premature termination of the contract is also permitted to the lender if the installments are not paid on a regular basis. However, after two written reminders , the borrower must be given the opportunity to settle his debts for three months.

 

How to manage school expenses thanks to loans

The school involves quite high costs , especially if you are faced with the needs of several children at the same time. Small personal loans can be used to cover these expenses . Amount of content but allow you to manage the expenses of this period. Books, stationery, uniforms, aprons, educational materials and all the equipment that responds to the latest trends of the moment, will make you pay a few euros not provided.

So let’s see how best to manage school expenses, thanks to the loans.

Do school fees rise? Personal loan is the solution for you

Do school fees rise? Personal loan is the solution for you

Even families who can count on two wages could be caught unprepared by the amount of material to be purchased to meet the demands of their children. Here, school expenses rise and force you to find an immediate solution: a personal loan is the one for you. You can thus request a small loan, but sufficient to provide you with the right liquidity to manage the outputs.

Online loans: easy and fast

If you do not have access to public funding for school purposes, you can always ask for a personal loan that will allow you to get a small sum quickly. After evaluating the amount of the loan, requesting it is a rather quick process. Now many banks, in step with the times, offer the possibility to send the request for funding directly online , without having to go to the branch. Once the loan request has been taken in, the bank will proceed with the necessary checks, with relatively short timescales, precisely because these are small amounts.

Evaluate TAN and TAEG: the first determines the interests and can vary from bank to bank, the second takes into account all the expenses related to the loan. Loans can be compared using these important indicators.

Loans from 1000 euros: small amounts in a short time

Another solution that will allow you to better manage your school expenses are the 1000 euro loans : not large sums, payable in a short time. Funds often involve complex procedures and variable acceptance times. In the case of school expenses, however, a sum of easily obtainable money could be sufficient, without particular guarantees or restrictions, if not verification of the income of the applicant. From the time the application is submitted to the actual acceptance of the loan, the wait is minimal. The main information you need to provide is: the amount you need, the value of the rate you prefer and your monthly income.

 

Free Fast Loan: 1 Loan 0% interest free

Loan companies try to attract new customers with very aggressive marketing campaigns that are beneficial for consumers, such as free credit offers for new customers , that is, without interest, commissions, expenses or fees. Based on the opinions of clients , I have created a list with all the lenders that grant each new client their first loan for free.

Advantages of the loan Free

If you have come this far, you need money urgently and you are looking for options to get the cheapest possible and nothing better than take advantage of the offers of free fast loans on the internet offered by some financial institutions in order to be known by the general public and thus gradually gain market share.

The only precaution you have to take is to be responsible and be aware that by the date indicated, you will have to pay them back the amount they lent you (yes, not another euro)

The amounts that you are going to lend for free are small, ranging between 50 and 300 euros (if you need more and you want to keep going free, ask a small part of each)

What are the requirements of interest-free loans?

Each portal has its own requirements but in a generic way, I will list what are the four requirements that you must meet to qualify for the free loans.

  • Reside legally in Spain
  • Provide your ID
  • Provide the bank account number
  • Provide the telephone number and email

They demand so few conditions because they try to make the potential customers see how fast and easy it is to process a loan with them.

They try to keep customers loyal, so that when they need money again, you can go back to them and at that time they charge you the standard fees. It is a very successful commercial strategy that all those who need small We must take advantage of the amounts of money and thus save us the interest that they would charge us in traditional banks.

Tip: In a hurried situation I recommend you take advantage of these offers because you only have to return the same amount that they lent you, not another euro.

No need to submit endorsements (unlike those that are requested to traditional banks that require you to present a guarantor to approve the credit)

Documents to request interest-free loans?

Documents to request interest-free loans?

The amount of money from loans at 0% APR is small, so the lenders do not require much documentation, they will generally ask you for papers to prove your identity and your financial solvency.

Identity document: You scan your ID and send it via email

Proof of regular income: Photocopy of your payroll, pension or unemployment payment.

Each entity has its own peculiarities but they do not usually put up a lot of obstacles because they want to gain new clients and the risk they assume of default is not very high.

Free Credits: Application process

Free Credits: Application process

You enter your website through the buttons “more information” that you will find at the top of this article, fill in your data with the required fields and the platform itself will guide you.

These are very simple steps that anyone can do without having any type of studies and that the form is completed in just 10 minutes.

What are free loans for?

Each one has its own motives, although it is common for all of them that money is urgently needed and the cheapest way to obtain liquidity is looked for, it is as if it were an advance of the payroll, with the APR applicable to a 0 %. In my environment of family and friends, the causes and the destinies of the money are of the most diverse, from fixing the boiler of house until paying to the dentist.

The most common purposes are the following:

Domestic breakdowns: The arrangement or purchase of new appliances that can not wait for the next payroll to be charged, such as the washing machine or the refrigerator. The repairs of the car is another of the most common reasons for which money is requested.

Traffic fines: The notification of a fine can catch you unaware and without money to pay it (if you pay it before 15 days reduce the fine by 50%, so the savings is considerable)

Health problems: The purchase of glasses for the child or paying the dental fillings are other reasons that make finding a solution in the free loan

Special events: Valentine’s Day, Christmas, fly to school, wedding invitations or communions force us to make an extra expense and we do not always have a balance for this in the current account.

Travel: Many people ask for a free loan to go on vacation for a weekend or for summer vacations and then return it with the next payroll.

Free credits without interests or commissions. Conclusions

  • It only addresses new customers.
  • I have tried several of them and I have been satisfied. I only had to return the amount they left me, not another euro.
  • 30 day return period
  • Requirement of very few papers to borrow it.
  • Loans of small amounts: Between 50 and 300 euros.
  • They are minicreditos to 0% of interest.
  • The money arrives very quickly to the current account.

There are other financial products that can help you out of economic trouble, I leave a list of them:

  • Fast loans online
  • Quick Credits without paperwork instantly
  • Payday loans without payroll

The most advantageous loan consolidation

Which bank is the most advantageous loan consolidation? The question they ask is how people overdue debts , but also those who are constantly looking for the best deals to save as much as possible. At the outset, we will say that this article will focus on the first group of those people, and that is why we will completely remove the consolidation of the non-bank companies from the article because they cannot say they could help someone out of debt. At the same time, it is not possible to say, “Go to this bank, there is the most advantageous consolidation of loans,” because the offer is large and everything depends on a huge number of aspects – client parameters, number and type of consolidated loans, etc. let’s look at what to look out for and pay attention to.

What is Loan Consolidation?

Put simply, consolidating loans is a unification of loans into one. If you repay several loans, then it is difficult to watch and watch everything, but it is more expensive in a large number of cases . So once you have only one loan, you save. Usually, the consolidation of loans is used for a large number of overdrafts (permission to overdraft current account balances), credit card arrears and smaller consumer loans . Of course, you can consolidate each other and the different types of loans.

How does it work in practice?

At first glance quite simple. You will find an item in your bank’s offer – loan consolidation, and see how much the bank is willing to offer you. If you go into this amount with all your outstanding debts , one step is completed. At the same time, however, it is not possible for you to go to the bank if your current loans have not been repaid for a long time or you are currently without any income. In this case, the bank would probably not help you because you would be too risky a client for her . The most advantageous loan consolidation is to relieve your budget, but it can’t save you if you don’t have repayment resources.

What do you think about loan consolidation?

First and foremost, whether consolidation pays off. Typically, loan consolidation does not pay off for large loans if you have a property available to stop . Then the American mortgage would be more appropriate. At the same time, if you have had problems with repayments in the past and the bank is willing to offer you consolidation, but as a risk client, and the APR therefore exceeds 20%, it will definitely not help you. Interest rates on the most advantageous loan consolidation are expected to be just below 9% , saving on management fees, of course, with only one of several financial products. Further, interest rates can be reduced when collateral. The indisputable advantage of loan consolidation is the ability to borrow more and relieve the family budget . Although this may be another unnecessary debt, so many families on the verge of bankruptcy use this option. At the same time, you should n’t be afraid to ask in the bank . In fact, you will become its clients when consolidating, and therefore the bank is also interested in paying you to the future and not to other financial institutions.

The meaning of debt consolidation, its type and method

In the first place what is debt consolidation, its merits, demerits

Debt consolidation can be done by asking a judicial scrivener or a lawyer, for example, when the company has a debt and is challenged by the payment and his life is extremely difficult.

There are several types of debt consolidation, each of which reduces the burden by reducing the debt or delaying the payment deadline.

As a merit of debt consolidation as mentioned above, it is that it can escape from the debt hell which can not be withdrawn and the deterioration of the quality of life by being deprived by the repayment deadline, and can solve the problem slowly under experts.

As a disadvantage, it is mentioned that debt consolidation was carried out on the credit information of the credit information agency, that is, taking a black list, it becomes impossible to make a credit card for several years or it becomes impossible to borrow money I will.

Moreover, it is disadvantage in debt consolidation etc such that it becomes impossible to get into some occupations and obligation to pay the amount to the guarantor occurs. The merits and demerits are also different depending on the method of debt consolidation. Later, let’s look at that kind.

Types of Typical Debt Consolidation Part 1, Overpayment Claims, Optional Arrangement

An overpayment claim is a procedure to request that the loan company calculate the amount of overpayment that is paid to a loan company or the like, despite the fact that it does not have to be paid, and return it to the loan company. This makes it possible to regain interest paid too much or to reduce debt. On the other hand, not everyone who borrowed money is paying overpayment and can not regain it.

Arbitrary sorting is to reduce the monthly repayment amount by negotiating with the side who lent money such as reduction of debt or resetting of interest, so as to make repayment to the extent that does not interfere with daily life. When asking experts to arbitrarily organize, payment obligation is temporarily suspended, and information collection and calculation etc. are carried out from there.

If the amount of the interest is illegal or gray zone, the principal of the debt itself will decrease, otherwise future interest will be cut. Unlike the self-insolvency described below, there are no occasions where some of the occupations that can be attached are partially restricted.

Types of representative debt consolidation Part 2, Self-bankruptcy, civil rehabilitation

Self-insolvency means that by legally authorizing the court that payment is impossible due to lack of assets, the obligation to pay debts is exempt from legal obligation. Although expensive property such as home and car will be released at all, unlike arbitrary sorting, the existence of debt itself disappears so there is no need to repay anything borrowed so far.

However, the heaviest penalty is imposed in some debt consolidation such as restriction of occupation, prohibition of card use, appearing in the official gazette announcement. Civil rehabilitation means getting debt reduced with approval that the current debt repayment is extremely difficult and dividing it up over several years and repaying it.

Depending on the amount of debt, the reduction ratio will be different, but it may be reduced by up to 1/10. Unlike self-bankruptcy, you can do it while maintaining assets such as housing.

With the above, we have summarized debt consolidation and its kind easily. Since each method has a large content, let’s choose the one that is most suitable for yourself based on the merits and demerits.

Carefree loan: the formula proposed by the banks

 

Loan : this is the new bank formula provided by the bank.
It is a new banking product: an elastic solution, particularly accessible and far from burdensome for the contractor ..

This banking mode is aimed at all those employees who have a regular paycheck, such as an open-ended contract; a pivotal condition is to present a permanent employment contract.
We see the prerequisites and details of this mortgage loan mode.

Conditions of access to the Mutual formula

In case the contractor does not have a continuous or stable income situation, he can intercede a guarantor (these must not have exceeded 85 years of age), and avail of a first mortgage.
The importation of the first mortgage will be equivalent to 200% of the total amount disbursed by the bank .
At the end of the financing relationship, the applicant must not be more than 80 years of age; given this condition, Loan imposes a rather elastic age threshold: you can access the credit even at 65/70, with a payment forecast placed between 10 and 20 years.

The amount that can be financed reaches a ceiling of 50% of the value of the property for the purpose of obtaining liquidity and extinguishing liabilities.
The duration of the loan history is therefore rather short, being a mortgage loan: it can in fact be traded at 10, 15 or 20 years, at a fixed monthly rate .
There are also no penalties on the early termination of your mortgage.

Loan allows you to apply for an application with a regular employment contract or through a guarantor who, at the end of the relationship, has not completed 80 years of age.

Loan: rate calculation

The rate of the loan is determined at the signing of the contract, and can not be changed for the duration of the bank bond, in relation to the duration of the financial relationship with your bank, the rate will be modulated in the following ways:

  1. For a duration of 10 years: 1.60% of the rate;
  2. For the 15-year formula: 1.90%;
  3. For durations of 20 years: 2.15%.

As far as the preliminary costs are concerned, Mutual Loan makes use of the following key conditions:

  • For loans up to 80,000.00 euros, 1.25% is required;
  • For loans from 80,000,01 to 130,000.00 euro, 1.00% is applied to the amount of the loan granted, with a minimum amount of € 800.00 and a maximum of € 1,300.00;
  • For mortgages from 130,000,01 to 250,000.00 euros: 0.90% calculated on the amount of the loan granted, with a minimum amount of € 1,170.00 and a maximum amount of € 2,250.00;
  • In the case of mortgages exceeding the threshold of 250,000.00 euro, the percentage of 0.90% is applied, calculated on the amount of the loan granted.
    The expenses with a minimum amount of € 2,250.00 and a maximum amount of € 2,500.00.

Policies that are contextual to your mortgage

Like many other mutual schemes, this loan applies a policy contextual to your contract.
loan imposes a fire / burst policy with a premium charged on the installments of your monthly fee.
The percentage exercised on each individual is equal to 0.0155% of the sum insured, broken down by the number of agreed annuities.

For all other information we recommend visiting the website in the section dedicated to Loan .