Borrow money for car
Financing a car is often a one-off purchase. You need the amount for the purchase in one go. We offer two different types of loans: the revolving credit or the personal loan . Since you are planning to borrow money for a car, a personal loan is the most logical option. Do you want to be able to withdraw a monthly amount for the financing of a car? Then the revolving credit offers the solution. You can also choose to take out financing through the dealer or perhaps private lease is the solution that suits you.
Financing the car at the bank
You can take out two different types of financing through the bank to finance the car: the revolving credit or the personal loan. When you borrow once, the personal loan is the right option. With this you know exactly where you stand: you receive the amount in your account once, with the interest and term being determined in advance. The monthly amount that you pay consists of repayment and interest. This way you will not have any surprises afterwards.
If you want more financial freedom for an indefinite period and you do not find it a problem that this is accompanied by variable interest, then the revolving credit is the right solution for your situation. The revolving credit has no end time, provided you have reached the age limit of 60.
The advantage of financing the car with a bank is that the car is actually yours. In addition, this form of loan can now almost always be repaid extra without penalty, so that you can get rid of the obligation earlier.
Financing through the dealer
Installment buying sounds attractive, but in practice you quickly lose a lot of US dollars. The maximum interest is often charged for this loan form. On top of that, you only really own the vehicle when you have repaid the full financing.
Financing with a private lease
The biggest disadvantage of a private lease is that the car is not yours afterwards and you usually do not build up claim-free years via private lease.
With the personal loan you can be sure that the car is yours after paying off.
What are the additional costs?
Do you choose to take out financing for a car through us? Then the mediation is without additional costs. We receive a fee from the lender in the form of a commission.