Through the different plans PIVE the government tries to encourage the purchase of new cars. This has two main advantages for the country's interests first stimulus involved for the money market moves in the automotive sector and secondly, the renewal of the fleet, that the crisis has aged rapidly . An old fleet implies an increase in the number of accidents and the severity of the consequences thereof, which are nothing desirable data for any ruler.
Loans for new cars but to buy a car not enough to give aid, funding is needed and so many banks and finance have taken loans for cars with more favorable terms when they are used to purchase a vehicle. These loans compete directly with the financial characteristics of some brands. But How are these loans ?, how amounts are funded ?, What is best ?, bank, financial independent? We will try to answer general questions and at the end we will make a small comparison between the major banks and financial.
Features car loans
The loans intended for the purchase of cars are fixed-rate loans with interests that vary by bank and customer loyalty, ie, the remaining products have contracted with the entity.
The usual pay for one of these loans is between four and seven years, although some banks and finance allow up to ten years to pay the loan time. Considering all these data, we have taken as a reference to a client with an income of 18,000 euros per year to be buying a vehicle 18,000 euros and aims to fund six years without other loans or be on any list of defaulters .
Importantly, loan costs, which are around 1.5% on average except CETELEM, in which simulator does not include commission charges and therefore are not included in the calculation are included in the APR.
The loan comparison Banqueando
Please remember that every month Banqueando publish updates on the best consumer loan information.
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