In 2016, over 869 thousand used cars and almost 500 thousand new cars were registered. If you’re one of those people who want to invest in a new car, you’re probably looking for ways to finance this purchase. By buying a car it is possible to negotiate better terms that will help you save, but you can also earn a lot of money by comparing different car loans.. In the case of payday loans and consumer loans, the costs vary considerably depending on the loan company, which is why it is worth analyzing the market and available offers of several companies.
Through Bankeros you will find car loans with a maturity of up to 15 years, but if you intend to use the car only for 10 years, it means that you will have to pay back the loans for the next 5 years after getting rid of the vehicle. Therefore, the maturity date and expectations regarding the time of use of the car should be consistent.
Borrow money for a car online
On our website we have collected a lot of different companies offering credit car. In our database you will find companies that offer ordinary consumer loans as well as companies specializing in selling car loans..
Many possibilities to choosde
Individual car loans can differ significantly in terms of the costs involved.. This usually depends on where you want to get this type of loan. It can be a mortgage bank, local bank branch, authorized car dealership or online loan company. A car loan usually requires some own contribution. An alternative can be a normal bank loan, but the cost will depend largely on your individual circumstances. The relationship in the bank can be affected, for example, by your trade union membership or customer status, which can be the basis for obtaining discounts.
A bank loan depends primarily on your financial situation, which means a thorough assessment of your creditworthiness and a long time to process your application. Often, when buying a new car in an authorized showroom, you can get a loan as part of the transaction. The seller usually receives a commission for intermediation in the conclusion of such a loan agreement. In addition, in some cases you have to pay a loan insurance fee. However, this is not the same insurance as the typical pledge that is required for mortgages. This type of solution often means lower interest rates but high initial costs, and because these fees are not tax deductible, this method can be very expensive.
The last option is an online loan, which is both the fastest and the easiest solution. Thanks to Bankeros, you can compare the best and the cheapest offers available on the car loan market.. A simple way to get the most advantageous loan is to submit an application to several non-bank companies, thanks to which you will receive a greater number of offers tailored to your situation.
The difference between a consumer loan and a car loan
The basic difference between a car loan and a consumer loan is the size of the amount borrowed. Taking a car loan, you can borrow up to PLN 200,000. The repayment period for a car loan is usually longer than for a regular consumer loan. In Poland, the maximum repayment period is 10 years.
The meaning of APRC
For car loans and other loans, you must remember that in addition to interest, there are additional costs involved in granting the loan. Many people limit themselves only to checking the amount of installments and interest, not paying attention to records that relate to initial costs or administrative fees. Therefore, we recommend to all interested parties to closely watch the APRC, i.e. the Real Annual Interest Rate, which provides insight into all costs associated with borrowing money. For example, if the interest rate is low but the APRC is high, it means that the preparation fees are high, which makes the loan expensive. APRC is usually lower for loans for larger sums than for small amounts. The lower the APRC value, the cheaper the loan will be in general. Please note, however, that interest rates can be deducted with tax, however, for commissions and initial fees, this is not possible.
In search for fast online loan
When you find your dream car and you lack the money to buy it, it is worth considering in advance the options available to finance this dream. By taking an online loan, you can be sure of a quick application processing process and instant payout that will allow you to implement your plans immediately. When you manage to raise funds that make your dreams come true, you can easily forget the long-term consequences. Bankeros offers a loan calculator function, which you can use to check the loan costs you will incur during its repayment. Thanks to this you will get a clear picture of the investment and all related costs.
Make applications to several loan companies
The interest rates contained in the offers on our website are purely representative. The final interest rate is only determined after you submit the application. As an independent advisor, Bankeros suggests that you apply to several loan companies, which will allow you to increase your choices.. Then you must provide the creditor with a statement of earnings, on the basis of which he will assess his creditworthiness. Its result determines the shape of the loan that the creditor will offer you. The credit rating determines the terms of the contract, including the interest rate that matches your finances. Submitting applications to several companies does not mean that you are obliged to any of them. The contract will enter into force only after sending the accepted and signed offer to the lender.
Why is it worth borrowing online?
There are several reasons why you should choose a car loan online instead of a traditional bank loan. This way, you can get the cash you need faster and avoid unnecessary paperwork at the same time, because all formalities are handled electronically. In addition, only a few loan companies offering online services find out what you are going to spend your money on..
Before you finish the transaction
Before you decide to buy a car from a private seller, you should make sure that everything works as it should in the said vehicle. When buying a used car, you do not have the warranty provided by an authorized showroom. Therefore, remember to thoroughly test the selected vehicle and check all functions. Make sure you take a good look at the vehicle inside and outside, preferably in daylight. This way you can minimize the risk of buying a second-hand car.
Many people dream of a new car for years. Some plan to buy their first car, others are looking for a newer model. Once you find your perfect car, you need to pay attention to several economic factors that are significant when implementing this type of investment. Undoubtedly, you need to carefully look at the price and contract conditions assigned to the car you are interested in, as well as other aspects that affect the profitability of the entire investment, such as the tax when buying a used car. It happens that in the case of such a large investment as buying a new car, a loan is needed.
There are numerous offers on the online car loan market that help you get a cheap loan. At the same time, you must remember that it is worth knowing what you are dealing with, which is why knowledge of key definitions from the world of banking is invaluable. Constant and variable interest rates, or APRC are just a few of the many you should know about. If you need help finding a cheap car loan and you’re not sure of the formalities, Bankeros offers numerous articles and tips to help you understand all the details of your loan before you decide to take it. So if you are planning to buy a new car and it just turned out that you need cash to implement this investment, we encourage you to read on our website.
Constant and variable interest rates
When taking out a car loan, new or used, you usually have to include interest in your repayment plan. The interest rate, also known as interest rate, is the indicator that determines the amount of interest. It is expressed as capital in the form of a percentage, which must be paid together with the loan repayment, and therefore constitutes an additional fee. You may also come across the terms “fixed” or “variable” interest rates. The fixed interest rate has remained unchanged from the beginning, i.e. since the conclusion of the loan agreement. In this way you can be sure that you pay the same amount in interest throughout the duration of the contract.. A variable interest rate is the exact opposite of a constant. Thus, the interest rate increases and decreases during the repayment of the loan, and thus interest changes with it. This means that you can pay more or less than what your loan agreement assumes. When looking for the right loan, pay attention to the type of interest rates offered by each offer, think about your needs and make sure that the interest rate matches your financial possibilities.
If you want to know what costs of the loan you will incur in general terms, you should consider a loan with a fixed interest rate. This allows you to accurately estimate the cost of the loan from the beginning to the end of its repayment. However, if you want to keep the possibility of obtaining a lower interest rate, maybe the variable interest rate will guarantee you the desired flexibility. So the interest rate is a key indicator to look out for when choosing a car loan.. This is especially important because you need to be absolutely sure that you can pay back the loan at the right time. Therefore, you should make sure in advance that you have the funds needed to fulfill the contract, so it is extremely important to include interest in your calculations. In addition, you must carefully check the terms of the contract and the type of interest rate before you decide to sign the documents. In this way you can avoid unpleasant situations in which the interest rate turns out to be much higher than initially anticipated.
The best car loan
The best car loan for you is not necessarily the best universal loan on the market. There are many factors involved that make a given offer fit your situation. For example, some non-bank companies offer car insurance as part of a loan. The best car loan is often the one that offers many additional benefits at a low price and will help you finance the purchase of a new car..
Plan your budget
Before concluding a loan agreement, you should also prepare a budget. In this way, you can easily plan the expenses that you will come across taking a loan to buy a car, in accordance with the terms of the contract. The options available to the borrower vary considerably because some earn more than others, which is why preparing a budget can help to distribute funds appropriately.
Are you studying and need funding for your first car? Or maybe you lack money because you are raising three children alone? Your living situation plays an important role in creating the budget, so you need to carefully analyze your own needs. What’s more, only you know how much you earn and how much you spend on everyday life.
Many people have experience in budget preparation, but for those less initiated, using a payment card can be a form of budgeting. By deducting expenses from the income on the card, you can easily and quickly get a summary of your finances and determine the amount you have to pay back the debt.
It is very important to remember to pay back the loan on time to avoid long-term debt.
Preparing a budget is therefore a key activity that you must do before you sign a car loan agreement, even if you think you have found an extremely cheap offer.. Thanks to the budget, you will avoid unexpected expenses and be well prepared for various random situations. At the same time, you have access to your finances that will help you choose the best car loan..
Benefits of internet lending
As we have already mentioned, a loan can often be a necessary means to implement plans to buy a new or used car. It depends on the price of the car and the funds at your disposal. If you find yourself in a situation where you need a car loan, you can take advantage of the many benefits of online loans. To understand the benefits of online loans, let’s consider an example from everyday life. If you want to borrow money, you go to a local bank branch, where you have to make an appointment with a representative, and you often have to give your property as collateral. On the other hand, in most cases of borrowing money online you have no obligation to secure the loan. This is one of the main reasons why online loans have grown in popularity in recent years. In addition, you can use the money from the online loan for any purpose without having to inform the lender what exactly you will spend these funds on.
In addition to the fact that you don’t have to secure your loan by pledging, the quick processing of your application is another advantage of online loans. Filling out the application is very easy and does not take much time, so starting a loan application with several lenders at once is not a problem. Some companies respond within 24 hours of submitting the application. So if you have found the perfect car and do not want to delay your purchase, with an online loan you can expect an instant response and quick cash withdrawal. Due to the minimal waiting time, many people opt for express loans when they need cash “here and now”. An online loan can therefore be a valuable alternative if you are sure that you can pay back the debt and your funds can cover the total cost of the loan. If you are still more convinced of traditional ways, arrange a meeting at the bank or with your advisor now. However, if you would prefer a more flexible and modern option, do not wait and start searching for the best car loan online. You can choose from many non-bank companies on our site and take advantage of the many benefits of online loans.
How much does a car loan cost?
Car loans often have a very favorable interest rate because the car serves as collateral for the loan. It’s up to you whether you want to finance your car investment entirely with a loan. You can choose whether you want to take out a loan for the full amount or only part of the purchase value. At the same time, the cost of credit depends just on the amount you plan to borrow.
Find the best car loan
When you need to decide on a loan, you should choose the offer that is the cheapest possible and pays off the most. There are countless loans on the market, among which you can find car loans, both with and without a deposit. For example, a loan without a down payment can be a good option if you don’t want to spend money on your savings or you already have a car, but it doesn’t generate enough value to use as equity. The above example proves that you should think about your needs and review your finances and funds before you take an instant loan online. In this way, you are able to get rid of all doubts before making the final decision, so you can choose a specific offer with a clear conscience.
APRC is a key indicator that you must pay attention to when comparing car loan offers. This way you can find the cheapest option for yourself. The actual Annual Interest Rate provides a clear message on the cost of the loan in the long run. Therefore, it is also an ideal starting point to look for a suitable loan.. However, remember that loan companies are legally obliged to provide the APRC gross, i.e. before tax, while your comparisons should refer to the net value, i.e. APRC after tax, because in this way you will get the actual costs of the loan.
Loan of the Year
The best loan on the market? Determining the most favorable loan at a given moment is practically impossible, because it largely depends on the individual situation. On the Bankeros.pl website, we have collected over a dozen loan companies offering car loans. We have loans for you from Diba or Santander that offer attractive interest rates.
Calculate the loan and receive a new car
If you are lost in a maze of financial definitions and concepts that you need to know if you want to find the best car loan, Bankeros comes to the rescue. On our site you will find an easy-to-use, useful loan calculator, thanks to which you can quickly and efficiently estimate the cost of a loan for a new or used car. Calculate your car loan expenses on our website and see how many options are waiting for you.
Not everyone can take advantage of the MasterCard Gold credit card, thanks to which you can receive up to 45 days to repay an interest-free loan. That is why many people may not have a choice when they decide on a car loan.. If you are one of these people and you understand the mechanisms behind the most important concepts we have mentioned, you can confidently prepare for the right car loan. On our site you can find many non-bank companies that offer favorable car loans. If you only care about the cheapest offer, you can use a list of various lenders on our website and at the same time calculate the costs of a given offer using our calculator..
On our website you can calculate your car loan, so you can quickly get the answers you need when deciding on a loan. In addition, as we have already mentioned, it is worth submitting applications to several loan companies, thanks to which you increase your chances of getting a loan. Thus, you can be sure that you will receive the necessary money in one way or another. Also remember to use common sense when choosing your budget and prepare a budget that will allow you to determine your options before you take out a loan. Thanks to this, you are prepared for any eventualities and know what to expect. The key to finding the best car loan is to check all the available options, so you’ll find the cheapest solution, regardless of whether it requires a down payment. Send the application online and become a customer of one of the cheap loan companies that you can find on our website. Thus, you can easily and quickly get the cheapest car loan in Poland and invest in your dream car.