These data mean that the employer's industry is showing optimistic for the first time in many months and glimpsed some recovery could be reflected in the results of registrations in November and December. New figures that could "make up" the poor performance of this sector so far this year.
In the first ten months of 2012, the automotive sector has accumulated sales decline of 11.9% compared to the same period last year, pretty negative data. Hence the arrival of PIVE Plan has been received with open arms by an industry that does not know how to promote the sale of cars.
At present, and given the need for car manufacturers to dispose of their vehicles, promotions occur through discounts, multiply and even triple Plan PIVE conditions and conditions increasingly favorable financing offered. We could be, therefore, one of the best times to undertake the purchase of a car.
80% of Spaniards, according Faconauto, Federation of Automobile Dealers, decides to finance this acquisition, compared to only 20% who faced down payment. At this point is important, therefore, to know what options exist in the market to finance a car and how to get the best car loans.
Boxes and Banks offer a wide range of loans designed exclusively for the purchase of a vehicle: car loans, which do not differ much from other personal loans.
The amount to be financed with these products is usually 3,000 to 60,000 euros depending, as in any other type of loan, personal guarantees which are counted. The repayment terms ranging between 1 month and 5 years, although there are financial institutions that come to offer repayment periods of up to 10 years. Regarding the interest rate will depend as with other personal loans linkage is established with the entity.
However, it should be noted that the average interest rate on a loan for consumption round now 9% and 80% of car loans are fixed, so the customer will pay the same fee throughout the life of the loan. Despite that, the banks also work with variable rate loans, usually Euribor which is at historic lows, 0.75%.
As we say, at present, most banks and exclusive design loans to purchase a car. For example, BBVA sells a Car Loan offers a fixed interest of 6.50% provided that the domicile payroll and payment protection insurance is hired.
If insurance is not hired, the interest rate of the loan is 7% and if the list is not domiciled, the interest rate rises to 8.5%. The maximum funding of this loan is 75,000 euros and the maximum repayment term is 10 years. The Car Credit BBVA applies a fee of 2.20%, with a minimum opening cost 90 euros.
Occupational Safety Car also offers credit to a fixed rate of 6.50% and a maximum repayment term of 7 years. The commitment fee on this loan is 1% and the deferred sales charge is 1%. The company requires the hiring of a car insurance at the time of grant funding.
Meanwhile, BBK offers Final Installment Loan Car, which offers a maximum funding of up to 60,000 euros. This loan is meant who changes vehicles frequently as the entity gives the possibility to defer the payment of 25% of the capital in the last installment, so the monthly payment is more affordable. Also, the last installment you can afford with the value of the sale of the vehicle.
The interest rate of this loan will vary depending on the amount of the repayment period and the relationship with the entity. For a sum of 10,000 euros for a period of 5 years, the fixed rate is 5.89%.
Banks increasingly are more flexible such loans for cars to compete more directly with the financing offered by financial vehicle manufacturers forms.
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