Car Loans: The monthly installments and the interest rate are not everything

Car banks advertise with unusually low monthly rates and very low interest rates. However, at the end of such an initially favorable offer, the car buyer often has to expect a good five-digit closing rate. “As tempting as, for example, a monthly rate over 195 euros initially sounds too – in the conditions, the view of the balance is crucial,” says Oliver Concord of the consumer portal.

Cheap credit yes – but without discount

car loan

The auto banks often wave with very low interest rates. But they usually only exist if the car is bought at the list price. The otherwise usual high discounts when buying a car, there are almost only for cash. But who can easily turn down 30,000 to 40,000 euros for a new car?

Here is a proven tip: The cash buyer becomes the car buyer when he summarily gets the money from an independent bank in advance as a loan. Some banks have specialized in such customers.

For example, the credit specialist offers a consumer-friendly car loan . The Internet Bank has been in business for over 55 years.

“We offer very low annual interest rates for maturities of up to 84 months and amounts up to € 50,000,” explains, Managing Director of Bank. “Our customers receive their online loan approval within 30 seconds and the payment is made within two working days of receiving it from us.”

In addition, it is particularly consumer-friendly with this car loan that the borrowers can make special repayments or replace their credit at any time without extra fees. Equipped with this flexibility, borrowers then determine the amount of their monthly installments over the term itself.

All information about the car loan can be found on our website.

A five-digit closing rate, which is due at a fixed date, does not threaten these borrowers. Instead, they decide when they want to end their loan. And they can negotiate high discounts with their money as a cash payer.