Financing with loans – With this video, we would like to remind you of the credit trap:
Loans for cars and e-bikes
In the year 2015 it is not easy to find the ideal financing of his vehicle from the huge offer. So-called experts wait at every corner to ‘make happy’ with an overpriced tariffs. Therefore, independent comparison portals for instalment loans or blogs like this have a high priority.
What has to be considered for loans?
In the case of loans for cars and bikes, basically the same principles apply as for a loan for construction: the term, the amount of the monthly rate, the interest rates and possible payment of the advance payments – balloon payments – must be taken into account.
If you do not want to be the most lucrative business for a lender in a banking branch, you should close your loans online. In the meantime, there are hundreds of independent financial websites, filled with valuable information by professional authors.
For example, the ratenkreditvergleich-info.de website offers numerous sample calculations, which document the monthly interest charge for the instalment loan.
However, if you would like to get information about financing models for your vehicle, you will not go wrong with online magazines such as focus money.
What are the alternatives?
The most financially advantageous method is also the impractical – to simply save the money over the months to buy the car or bike with a payment. There are no expensive interest rates and you are not financially tied. However, for obvious reasons, you do not want to wait a few years with such a purchase – so loans are usually unavoidable.
Another option is currently becoming more and more popular – private loans. These are available through online portals, but also in the offline world of neighbours, relatives, etc. However, here interest rates are again higher than with the bank – and many people do not want to accept money from friendly people because they fear it Could strain the personal relationship.
What costs do I have to reckon with?
The interest rates of the instalment loans or of the framework loans are not to be underestimated. However, the span width is so large that no generalised statements can be made here. In principle, the lower the creditworthiness, the higher the interest rate. Because the risk is also higher for the bank, of course, if the probability is that it will not see their money again.