Hello, I would like to buy a Mercedes S-Class, but at the moment I do not have the necessary change. You should not take out a car loan as collateral if it is a consumer loan. What are you worried about is the loan for car rental? Is it difficult for you to find recognition in China? Car, house, furniture, vacation: Not everyone can afford expensive purchases. An assessment at gaylenol.com
Borrow money for a car?
Sorted by: Pro: You will get it earlier. Indeed, an economically minded person generally only acquires loans that offset the interest costs by their utility value or added value. I have been co-financing a car for about a year (“then I paid the loan back for resale”) and it was annoying and just unnecessarily stressful.
For me, this is simply not convenient and inexpensive. In any case, a car is the worst investment for a bond. Because a few years later, you face the same problem: no cash, but a car is needed. Those with a good credit rating (the banks decide this) have little to say against it.
But I myself would not be to blame for a car (everyday object). Rather, for a vacation rental or a vacation home, that would be my focus.
Credit for car loan
Everyone who wants to take out a loan for a car today has free time. There are several ways to buy a new or used car. It is not always easy to decide, and there are no general recommendations as to where or how the car can be cheapest financed. Trade finance is an option that benefits most consumers.
On the one hand, the conditions are usually very advantageous in practice, and on the other hand, the seller takes over all administrative work involved in credit processing. Only if the buyer wants to talk about the car price will he notice that the seller hardly ever makes concessions on the car price. The reason for this is very simple: he already has to subsidize the interest payments and wants to earn something with the purchase of the cars.
In relation to the total costs, the loan from the external bank can be considerably cheaper, even with higher interest rates. A loan from the external bank turns the consumer into a cash payer and thus has better opportunities to get a higher discount on the vehicle price. The bottom line is that this form of financing is cheaper despite higher interest rates.
Therefore, the consumer is asked who wants to save, have to calculate several variations and spend a little time preparing for the purchase of a vehicle. Some customers may face problems if the foreign bank is unwilling to grant the loan in the required size because the income is low.
Then it is no longer necessary to be too economical with the financing measures, but to find a house bank that approves the loan. In most cases, a prepayment must be made as part of the financing and the vehicle registration must be paid into the house bank during the term. These are other securities that have a positive impact on the lending decision.