Have you recently changed jobs and therefore need a car quickly? Or does your old car need to be replaced, but you don’t have enough money for another car? Then of course you can borrow money for your car.
Buying a car is often a big expense, so it’s important to read the possibilities of loans. We are happy to help you with that.
Tips for taking out a loan
We at Credit Savers have a team of specialists. We ourselves have many years of experience in the financial industry and know exactly what you should pay attention to when taking out a car loan. That is why we are happy to give you a number of tips. You can pay attention to this when borrowing for a car: SEE GOOD WHAT INTEREST YOU WILL PAY
When you borrow for a car, you naturally want to benefit from the lowest possible interest rate. Is an interest too good to be true? Then that is usually the case. Some loan providers have certain promotions, such as very low ‘from’ interest rates. The final amount that you later pay in interest may be much higher. So always read the small print. You do not have to worry about this if you take out your loan through Credit Savers, because we have already selected the best lenders for you. You can view and compare all of these through our website. ADDITIONAL RELEASE
If you want to keep the option for accelerated repayment open, it is wise to see if this is possible at the relevant lender. For example, with a personal loan from Gerony it is possible to repay additional fine without penalty. Have you taken out a personal loan before? Then it is not always possible to pay off at an accelerated pace without getting a fine.
It is possible that your car dealer offers ‘purchase on installment’. Often this loan is already offered to you in the showroom, but does not immediately agree with this. It is wise to first compare this offer with other loan providers. The interest is often quite high, which means you end up paying more for the car. So there are cheaper options. The car will then only be yours when the last installment of the loan has been paid and a penalty arrangement is often included in the agreement. And it is important to know that such a repayment arrangement can be an obstacle to applying for a mortgage.
To come back to the deals that car companies offer: it sometimes happens that you are offered a 50/50 deal. You pay half of the price with the purchase, and the other half later (usually within two years). The interest rates are often low, but pay attention to the fine print. For example, administration costs are calculated that can sometimes be high. If you want to trade in your car, then you should also pay attention that you do get a realistic amount in return.
Repair or restore a car? Choose the mini loan
Maybe you don’t need a new car at all, but do you want to restore your current car or do you need the money for an expensive repair. In most cases, this is a cheaper alternative than purchasing a completely new car. In the case of repairs, these are of course often unforeseen costs, but if you cannot live without your car, the money must come from somewhere. So you will soon have to pay an expensive repair, such as replacing your exhaust or a new timing belt and would you like to borrow 500 euros ? In that case you can borrow money for your car and preferably you have the money in your possession as quickly as possible. Then opt for a mini loan without BKR testing. These are loans that you can apply for online and, unlike a bank, your application is processed very quickly. Also in this case there is no need for BKR testing. This takes up a lot of valuable time while you actually need the money as quickly as possible. A mini loan is usually sufficient if you want to borrow a small amount (maximum € 1500).
Need a new car?
Do you really need a new car, for example for work or maybe there is a family expansion? Then we recommend taking out your loan online, for example via Gerony. This way you can get on the road in a comfortable and pleasant way, because you know that the financing is well organized. Taking out a personal loan is ideal when you want to borrow a car. With a personal loan you know exactly where you stand in advance. You agree on a fixed loan amount in advance and you can also adjust the duration of the loan to the life of the car you are going to buy. This way you will not be left with a residual debt and you will know exactly what your monthly costs will be. So take a look at Gerony for the conditions and easily take out your loan online.
In short, borrowing for a car involves a lot. It is therefore important to be well read on our website. Here you will find all the information you need to take out a suitable car loan. We have of course also found the best lenders for you. You only have to compare so that you can make an informed decision!