Buying cars in installments or in cash is the question that you will ask yourself when assessing whether the hypothesis of obtaining a discount holds the real advantage of depriving itself of a certain liquidity, thus avoiding paying the interest due in the case of auto financing. .
New cars without installment advance payments are the workhorse of almost all car manufacturers , which exploit the applicant’s income position for low-interest car loans, ie realizing multi-year amortization plans whose constant installments benefit from a somewhat reduced APR , because of the often conspicuous capital needed to finance the purchase in question. In this way you will have the opportunity to buy cars with zero advance and mini installments that you will have to pay monthly, directly to the financial company or credit institution in agreement with the dealer, who will provide on-site financing simulation based on the requirements that you will need to provide.
Auto Loan Calculation
The calculation installment on the loan is made on the basis of your salary or pension , which you will guarantee the ‘ obtaining the best funding that car companies and are able to agree with the lending institutions, often advertised as a zero rate loan, but in reality always having a certain amount of interest to be paid. These included in the Taeg, compulsorily indicated in the financing proposal of your concessionaire , are inclusive as well as the effective capitalization of the numbers requested on loan, including all the charges that you will have to incur including preliminary investigation or insurance costs, if any.
The purchase of new car financing is feasible by providing the last paycheck or pension slip, together with the CUD , so through the simulation of loans that most of the finance companies make available on their portals, you can know in advance the amount of the installment and assess whether auto financing is worthwhile or not, opting eventually for the traditional personal loan. You can operate this calculation directly, such as the Unicredit loan simulation, simply by connecting to the official website of the credit intermediaries on the market.
Requirements for obtaining the Loan for the purchase of the Car
The formula c alcohol interest on financing for the purchase of a new car produces, of course, a certain installment, which you could judge not properly in line with your monthly availability. Therefore, applying for a personal loan, such as the assignment of the fifth, could be the optimal solution, since the requirements for obtaining a loan are identical to those you will provide if you turn outside of the financial circuit dealer .
In particular, by committing yourself to the sale of the fifth you will not have to worry about having to pay the installments every month, which even if now carried out with direct debit on account, is always subject to the good performance of the computerized systems of bank payments. The direct deduction in your paycheck or on the pension of the amount of your loan , will be commensurate to 20% of the total net monthly emoluments, or 40% in the case you already have any direct deduction.
If you are interested in buying used cars, the personal financing formula, such as the Agos loan up to 5000 euros , is certainly much cheaper and will allow you to better negotiate the retailer’s demand by virtue of your cash. Although any contract with the financing option can make a dealer or dealer receive a further commission as an intermediary, with cash payment for the purchase of the car he will not have to take charge of instructing any practice.
Obtaining a non-finalized loan will allow you to speed up the process of disbursement , in particular if it turns out to be an attractive subject for the credit system, or if already recorded as a good payer. In the event that you have incurred procedures that have led to your name being reported to the CRIF , the central financial risk at which each credit application is examined, reminds you that the loan to bad payers is always feasible. A fundamental assumption is to provide income position through a paycheck or pension, possibly consolidating the entire debt situation with the proxy loan.