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Car loan: prices as high as never - interest rates as low as never

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Car loan: rates as high as never - interest rates as low as never

Especially when it comes to the prices of new and used cars, these are higher than ever and rise more and more. This also confirms the German automobile trust, short THAT. Accordingly, the prices for new cars rose in 2020, despite the Corona pandemic, on in Average of 36.340 euros. This is a growth compared to the previous year of around 8,2 percent. The prices for used cars, on the other hand, are initially around 5,2 percent on average gefallen, but are currently back at normal price levels. And the trend is increasing here too. On average, a used car is bought for 25.711 euros. If you compare the price level for new and used cars with the interest on a car loan, you will quickly see that this is enormous in contrast have decreased. At the moment, car loans are around 6 percent cheaper than before the corona pandemic.

Car loan comparison pays off

Just trusting that you can get a cheap loan despite the current low interest rate is often not enough. The differences in interest rates can namely up to 80 percent amount, which is why a comparison is always worthwhile. According to DAT finance around 62 percent of all new car buyers and around 51 percent of all used car buyers buy their vehicle. Often directly from the car dealer where the vehicle is bought. The problem here is that a car dealer usually only works with a few or in some cases with just one credit institution (Vehicle manufacturer's bank) works together and therefore a Credit comparison is not possible.

Car loan: rates as high as never - interest rates as low as never

In addition, it often happens that the car dealer specializes in a certain car brand and therefore cooperates with the associated car bank. Here there can be a difference in the loan interest rates up to 80 percent come. Accordingly, financing the vehicle at a car dealer is not always the best solution. If you want to finance a vehicle, you should use credit comparison platforms such as smava.de To fall back on. A large number of credit institutions are compared here and the result is clearly presented so that you can always find a cheap and suitable loan.

the interest rate differentials

As mentioned earlier, the interest rates on a car loan can differ by up to 80 percent. When financing a used vehicle for an average of 25.711 euros and over a period of 6 years, this can mean an interest rate difference of up to 9.400 Euro mean. When financing a new vehicle for an average of 36.340 euros and over a period of 6 years, this can even mean an interest rate difference of up to 13.300 Euros mean. So it's worth comparing!

Car loan: rates as high as never - interest rates as low as never

Are you planning to buy a new car and are you therefore looking for financing? Or should the modified baby and its attachments simply have the best possible insurance? Then ours Credit, financing, leasing, insurance & Co. categories exactly the right place to go to get information. And also cheap financing for Accessory parts is there. Is the new one forged wheel, the planned Airride air suspension or the one you want foiling too expensive? Then a little one might help Financing in the process of implementing the modification on the vehicle. And also the topic Leasing or the vehicle sales are not neglected here. Just click through the posts and get the answer to your questions.

Car loan: rates as high as never - interest rates as low as never

Of course, that wasn't the end of it!

tuningblog has countless posts on the topic Credit, financing, leasing, insurance & Co. in stock. Do you want to see them all? Just click HERE and look around. The following is an excerpt from the last contributions from this category:

2022 regional vehicle insurance classes

Car loan: rates as high as never - interest rates as low as never

Bike4Budget: BMW Motorrad leasing and financing calculation

Car loan: rates as high as never - interest rates as low as never

Insurance premium will increase by up to 2022% for some from 30!

Car loan: rates as high as never - interest rates as low as never

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About Thomas Wachsmuth

Thomas Wachsmuth - He has been an integral part of tuningblog.eu since 2013. His passion for cars is so intense that he invests every available penny in them. While he dreams of a BMW E31 850CSI and a Hennessey 6x6 Ford F-150, he currently drives a rather inconspicuous BMW 540i (G31/LCI). His collection of books, magazines and brochures on the subject of car tuning has now reached such proportions that he himself has become a walking reference work for the tuning scene.  More about Thomas

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