Did your car break down or do you want to buy a second one? Don’t have the cash you need? The solution is a car loan.
Car loan differs from consumer credit. It is bound to be used – ie to buy a car. You can deal with it at the bank or at the car dealership or car showroom when buying a car. If you cannot prove your income or if you have a registry entry, contact a non-bank company.
How to get pre-approved for a car loan?
Simply. Just select the company that provides the car loan, which is ok for poor credit, fill out the form and wait a few minutes to approve the loan. A loan specialist will help you set up loan parameters such as repayment length and repayment amount. After approval of the loan, you can go straight to buy a new car. Many companies also offer an interest-free car loan. The loan is usually up to 50000 with a repayment period of 12 months. The amount of the loan also depends on the price of the car and the fact that you have your own funds.
The car loan has several advantages:
- fast approval
- for all types of cars
- possibility to repay the loan prematurely
- you are the owner of the car immediately
- cheaper than leasing
- in case of debt, you can sell the car
- no fee in advance
The disadvantage is the need for a guarantor or car liability and a more complicated administration associated with client verification in the registers of debtors.
Who is a car loan for?
For persons over 18 years of age. You must have a demonstrable income, the length of the loan is 6-84 months. Not only Czech citizens but also citizens of the European Union who can provide a valid passport, identity card, and residence permit can apply for a car loan. You can get a car loan from a bank or from hire-purchase companies, but also from some non-bank companies. You know your approval within 15 minutes of submitting your application. Like a car loan, you can also choose an American mortgage or consumer loan for anything. When buying a car, do not forget about the motor third party liability insurance and accident insurance.