Car loan is available in two different versions. These are the Auto Loan Classic and the Auto Loan Vario. Anyone taking advantage of car loan has the advantage that they can act as a cash payer at their car dealer and thereby secure valuable discounts on the entire purchase price. This applies to new and used cars of all brands and types.
Auto loan Classic
This car loan is available for amounts starting at 3,000 dollars and with terms between 24 and 84 months. However, anyone wishing to take up 10,000 dollars or more must take out a comprehensive insurance for the vehicle to be financed. The insurance contract must be submitted to lender.
The annual percentage rate is currently 6.99%. This interest rate is the same for all customers and is not dependent on creditworthiness. The length of the term and the chosen loan amount have no influence on the interest rate.
Car loan Vario
This loan variant is characterized in that only relatively low installments have to be paid during the entire term and that a high final installment is then due in the end. The basic term is a maximum of 48 months. The customer can then choose between three different options. So he can extend the term further or pay the final installment in one amount.
This variant should be particularly interesting for those customers who have a larger amount of money available at the end of the term. However, it is also possible to return the vehicle. This is contractual partner, who will take care not only of taking back the vehicle, but also of free collection from the customer.
If the borrower so wishes, he can also cover car loan against the risks of unemployment, incapacity to work and death. Lender offers a comprehensive security package for this. However, it expressly emphasizes that this security package is a voluntary service that does not affect credit approval or rejection.