Personal car loan: how to choose the best

A personal car loan is a type of unfinished loan designed for those who want to buy a new car but does not have the total amount needed to do so. Usually the car purchase loans are stipulated directly at the dealership with a fixed interest rate and a repayment plan in monthly installments, including a pre-amortization period between the loan disbursement and the beginning of the period reimbursement.

Loan with the dealer or without

Loan with the dealer or without

A personal car loan is followed directly by the dealer who stipulates agreements with credit institutions and communicates to them all the requests coming from the customer; the institution evaluates the application, delivers the sum to the dealer, advances the purchase price for the buyer, who must repay the loan by adding the interest accrued directly to the bank through withdrawals on the current account and payments of monthly installments. However, there is also a personal car loan without the disbursement to the dealer, but directly as direct liquidity to the buyer; this is most useful in the case of purchases from private individuals and not from retailers.

Financing for new and used cars

used cars

Usually personal loans per car cover 80-85% of the car price, for a maximum amount between € 30,000 and € 35,000, with a payback period from six months to 5 years. The guarantees that can be offered, in the absence of a pay slip, can be a rent or maintenance check from the former spouse. If you want to buy a used car, you need to set a maximum limit to the finance ability set by the Moneytax price lists, approved by car manufacturers and dealers for the purpose of evaluating new and used cars; the duration of the loan is less than that required for the purchase of a new car and the payment depends on the age of the vehicle and the commercial value of the same.

Loan at zero rate


There is a personal loan for cars at zero interest, which consists of a value of less than 3% with a equal to 0%, but also in a equal to 0%, ie where there are no other expenses besides the monthly payment of repayment of the loan, however sometimes in these offers some optional items are not included in the value of the vehicle that increase the actual cost; so it is good to pay attention to the real meaning of zero rate. Beyond the formula used to make the loan attractive, in any case the non-finalized loans aimed at the possession of vehicles are numerous and proposed by all the most important financial companies.

An example of a personal car loan is that of , which goes from 1000 euros to 60000 euros, for cars, campers and motorcycles, which allows the jump or the change of the installment, with a fixed Tan of 6.39% and a 7.5 teg fixed rate. Lender customers, on the other hand, propose Paycar Bank Auto Loan with which they can receive from 7500 euros to 30000 euros, with an amortization plan from 30 to 84 months, a fixed tan of 7.25% and a fixed of 7, 57%.