It's always worth comparing - that's why it's worth comparing car loans and dealer financing when buying a new car. Adequate preparation before buying a car can help save a lot of money. When buying a car in particular the form of funding a major impact on the total cost. The majority of new vehicles in Germany are currently sold entirely or at least partially via a credit or loan Bought. In the meantime, 50 percent of the used cars purchased are already financed with a loan. The share of loan-financed new vehicles is even 66 percent. When it comes to financing, many assume that they will of course get the most favorable financing conditions from the dealer. However, car dealerships and car dealers are often tied to a specific bank when it comes to financing the purchase price. The customers are therefore left with few options in terms of credit terms and conditions. Both new and used cars are current historically expensive and therefore place a heavy financial burden on the car buyer. Due to the high purchase prices for new and used cars, the comparison of different financing offers for the purchase of the vehicle has become all the more important. The following advice and tips compare dealer financing and independent loan offers. This will give you useful information about dealer loans and independent car loans.
Cars are currently historically expensive – interest rates are currently historically low
In the past year, used and new car prices have reached historic heights. And currently the rising trend for car prices is unbroken. This year, buyers looking for new or used cars have to reckon with historically high acquisition costs. Due to the persistent phase of low interest rates, however, the opposite often applies to financing historically cheap. An interest level of less than three percent allows a vehicle to be financed in comfortable monthly installments with almost no additional costs. However, current loan offers differ significantly from each other. Anyone who hastily chooses an offer for financing may have to pay many euros more. Car buyers should therefore not only compare the prices of the desired vehicle, but also in particular the interest and costs for the funding needed. On the Internet, it is now possible for every potential car buyer to get the cheapest car loan for them via a Credit Comparison Site to find. Thanks to the credit comparison integrated there, several thousand euros (depending on the purchase price of the vehicle) due to the different interest rates of the banks save up. Differences in interest rates between the various banks of sometimes more than 60 percent are not uncommon and enable the buyer to make immense cost savings through a simple comparison.
Dealer financing - easy and convenient, but expensive!
The persistent phase of low interest rates enables car buyers to take advantage of good credit conditions. Almost all of the vehicles on the market have become more expensive, but you can do something with good interest rates "get out". When financing the vehicle directly through the dealer, however, customers almost never receive the best offer for them. This results from the fact that the dealer is tied to a specific bank and the dealer credit only has to be concluded with this bank, without comparison with others. Interested parties often make direct use of the possibility of dealer financing without even knowing about the more favorable conditions offered by other banks. Financing via a dealer loan is easy and convenient for the buyer at first glance, but in the absence of a comparison of conditions it can become a real one Cost trap .
Room to negotiate when buying through independent credit offers
With a dealer-independent loan for the car purchase, the financing of the desired car can be massive cheaper and more flexible be designed. And through the before the purchase With the loan approved for the vehicle, the buyer can even appear as a cash payer to the dealer and secure additional negotiating leeway. Because dealers still prefer to sell their vehicles against Payment in cash. But that doesn't have to mean traveling with a suitcase full of money. From a purchase price of more than 8.000 euros, it becomes pretty pointless with cash due to the maximum 200 euro bills. A cash payment can also be a Transfer (depending on the provider maybe an immediate transfer) or that Pay by check be. In almost every case, a loan from an independent bank can save additional costs. As a result, the car buyer not only has the opportunity to take out the cheapest loan on the Internet, he can also make a real bargain as a cash payer when negotiating the purchase price.
