Financing used car
Financing a new car or a used car is usually necessary with every car purchase – because rarely does a customer have the purchase price in cash. In principle, anyone who wants or has to finance a motor vehicle has several options – depending on the requirements and also on the creditworthiness of the customer, one type of financing is more suitable, the other less.
The first point of contact for consumers is usually the local dealer where you want to buy the car – more or less attractive financing offers are almost imposed on the buyer if he only decides to buy – no reason to blindly accept the offers. Rather, it is important to compare the conditions exactly in order not to unnecessarily pay extra.
Buyers should first have an individual and non-binding offer made by the dealer if they want to finance a car. It is also possible, at least when buying a new car, to find out about financing options online from the respective manufacturer.
There you can also see which different financing models are possible
Financing without a down payment or financing without a final installment, in which the car is not taken over at the end of the term, but returned.
At the same time, you should negotiate with the car dealer about a possible discount for cash payment or ad hoc payment – many dealers generously reduce the price of the car if they receive the money directly and in full, instead of in installments.
Because the purchase price can also be paid with a bank installment loan instead of with financing from the dealer – depending on which offer the house bank or the savings bank makes, it may be more worthwhile to use the car externally and not through the dealer finance.
Credit Bureau information is generally obtained if you want to finance a motor vehicle, regardless of whether you contact the dealer or the bank. The decisive factor, however, is the “overall credit rating”, which is measured not only by the customer’s expenditure or financial obligations, but also by the amount and type of income.