Interest rates have dropped very sharply in recent years. This is very annoying for the savers, but offers ideal conditions for people who want to buy their long-desired car, for example.
Many banks are currently offering cheap loans. Which providers are recommended and what should the customer pay attention to?
Recommended banks for car financing
Barclays Bank – car finance
Barclays (advertising) has long been known in Germany for its credit cards. The bank was simply the first credit card provider in Europe. In this area, the bank is one of the largest providers worldwide.
Barclays also offers very cheap auto loans with a term of 12 to 84 months and a very low interest rate.
The loan can be applied for without any problems. A decision is made during the preliminary check as to whether the loan can be approved and at what interest rate. The bank also saves its customers the annoying Post Ident procedure if they have a PC, a tablet or a smartphone with a camera. The application can be completed on the computer. Next comes the video ident at the bank. Your bank advisor will ask you to hold your identification card in front of you. If all of this works, nothing will stand in the way of paying out the money.
If this has to be done quickly with the borrowing, there is also the Barclaycard Express credit. Here the money is available on the same day after the examination.
This express credit is the fastest way to get money in the market at the moment.
The uncomplicated and fast payment speak in addition to the very simple application process for Barclays. There is also an interest rate that is unparalleled on the market.
AStro Finance – car loan with cheap interest rate
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The credit provider AStro Finance (advertising) operates exclusively in the area of private loans. This specialization gives AStro Finance very good reviews and many years of experience.
Loans between 12 and 120 months are offered at a low interest rate.
The loan can be applied for just as easily as with Barclays. However, AStro Finance does not offer a Video Ident, ie the customer has to go to the post office and carry out the Ident procedure there. Then the bank checks the documents and after a successful check the customer gets the money into his account.
It is important that special repayments are possible without any problems and that the customer can request an installment break if there are financial difficulties.
AStro Finance convinces with flexibility, a long experience and a low interest rate.
Useful tips for applying for an auto loan
- It makes sense not only to compare the interest rate, but also the possibilities of special repayments and early redemptions. This should not result in any additional costs.
- It also makes sense to use a comparison portal to compare different conditions.
- The customer should always compare the effective interest rate. This alone takes into account all costs of the loan contract.
- Each bank carries out an inquiry into the customer’s creditworthiness. This is regulated by law in Germany and credit bureau is usually used for this. Before you start an application for a car loan, the borrower should make a self-inquiry with credit bureau. This can be applied for free once a year. This enables you to check whether there could be problems with negative entries.
It has never been easier and cheaper to fulfill the dream of a new car with a loan. The prerequisite for this is that the customer is creditworthy. The borrower can find out for himself very quickly with the tips.