What are the best car loans today? If there is a good time to buy used cars or motorcycles, it is what we are experiencing and finding a loan can help a lot in this goal.
If it is not easy for everyone to have 15 or 20 thousand euros to compare a new car, the same thing can happen to people who want to buy a used car and who need 6 or 7 thousand euros, for this you can not do anything but request a loan . Before considering what are the best car loans at the moment, we see, in general, how car financing is required.
It is clear to everyone that there have been thousands of layoffs, that historic factories of motorcycles and Italian cars have been closed, or merged to reduce costs. The trend of the car market crisis, which began in 2008, is starting to change course in recent months. It is the motorcycle market that is having a good recovery compared to the catastrophic numbers of only a few months ago.
So this is the right time to do business because the prices of cars and motorcycles are at their lowest and, although the car and motorcycle market has had a remarkable recovery, there are still very interesting offers of car loans.
Maybe we can find the bike of our dreams in 4 money, the same is true for cars. When looking for car loans, we must consider that there are not only car loans for private citizens but that often there are forms of very cheap loans if we present ourselves as a company. To do this it is enough to have a VAT number, here you will have the right to have a lease and to be able to discount the loan thanks to the fact that the machine has business purposes.
The request for a loan, for the purchase of a car, is an operation that is very close to the other types of financing and personal loans, in principle. In Italy, a lot of car trades, both used and new, are made through the provision of a loan, even if the banking and financial credit crunch has significantly changed the ease of access to credit.
Before accepting the conditions proposed by a financial company, or bank, it is certainly necessary to make an estimate of the estimates and choose the one that, in addition to being cheaper, can meet our needs (for example the duration of the loan).
In theory, requesting a car loan is a quick process: many companies are able to comment on the concession, or not, within two days , provided that the documentation provided is complete.
If the request for a car loan is formulated by a private individual (natural person), we can summarize the following necessary documents: identity card, social security number, driving license.
Moving on to the aspect linked to the financial capacity ( repayment capacity of the loan ), we require the presentation of the last two paychecks , or if retired, the pension slips received, CUD model , and OBIS model .
Many companies require the presentation of a bill (domestic utility) registered to the same applicant for funding, to prove the actual residence.
If the loan is requested by a self-employed worker, an individual company, or a person who practices the profession (in possession of VAT number ), in addition to the identity document, the tax code of the applicant is required (representing the individual company ), accompanied by all the details relating to the company, or self-employment. There is talk of the certificate of the Chamber relating to the VAT , Visura camero, tax return , and a proof relating to the residence of the applicant (usual bill of domestic use).
In case of request for a car loan from a company (legal entity), it is necessary to produce documentation of recognition of the legal representative, declaration of income of the company and chamber of commerce .
There are some clarifications to be made regarding the request for car financing, if the car to be bought is used or new.
If you opt for the purchase of a used car, with a request for financing, the banks and the finance companies consider the risk transaction to be more risky . In this regard, the lender will tend to propose worsening economic conditions, for example by proposing costs, and higher rates than the standard.
If the bank, or the finance company, does not consider sufficient “the guarantee” produced by the applicant through the presentation of specific documents, it may require an additional guarantee for the successful completion of payments, perhaps requiring the production of a surety of a subject third with respect to the applicant.
In the presence of a loan request for the purchase of a new car, both banks and financial companies consider the transaction to be less risky than buying a used car. Consequently, the economic and general conditions of the loan are in line with standard conditions.
We see some proposals for financing (for the purchase of a car) competitive, to date.
Banca Phedomestic, BNP Paribas group, proposes the Credito Auto product.
This loan is aimed at employees, self-employed and retired.
The disbursement takes place both for the purchase of a new car and used car .
Duration of the loan between 18 and 96 months. The proposed interest rate (TAN) varies according to the amount requested, and varies between 6.01% and 5.90%.
In the evaluation process, Phedomestic Banca may request additional guarantees for its protection (surety), but these are not standard hypotheses. The required documentation reflects the details provided above. Rapid evaluation times, and delivery within 2 days of approval with credit to the applicant’s bank account. Reimbursement of the loan with SDD (periodic installment linked to debit on current account).
The financing offered by Hermione Credit, which is called Immediate Credit Top HERE , is not limited to cars.
This is a loan with very interesting interests and with a plafon ranging from € 31 thousand to € 75 thousand, so we talk about being able to buy a luxury SUV or even a boat, with a similar figure.
The financing can be extinguished even in 120 installments. Obviously you will have to open a Hermione Credit Current Account , if you are not already a customer.
Grayjoy Bank proposes Personal Loan .
This is a loan payable for different purposes, among which there is the purchase of a used or new car. Applicants may be employees, self-employed, or retired.
The amount that can be requested ranges between EUR 5000.00 and EUR 30000.00, opting for a loan term ranging between 12 or 120 months. At the moment it is not possible to indicate a defined TAN: the bank specifies to apply a variable TAN based on the duration and amount of the loan.
It is always requested that there be a co-obligor to repay the loan.
The required documentation is the general one described above.
The evaluation process is presented as rapid by the bank, and also the disbursement if approved: however, precise details are missing.
The disbursement takes place on the applicant’s current account, with repayment in installments with SDD.
Longos offers Personal Credit : financing intended only for individuals (employees, or pensioners).
The loan can be requested for the purchase of a used or new car.
The amount that can be financed varies between EUR 3000.00 and EUR 30000.00; the duration of the loan can vary from 12 to 84 months.
The proposed TAN is 5.80% .
An additional guarantee for the repayment of the loan is not required, unless the applicant is married, where the signature, as co-obliged, of the spouse is considered preferable.
In the context of documents to be presented, we can say that they are always the same as already mentioned.
The request process foresees a general prevailing and an approval / rejection. There are no fixed terms to complete the process, but speed of evaluation is guaranteed.
The payment is made by crediting the applicant’s current account, and the repayment in installments with SDD charge.
Harryitalia offers Harryamo : financing intended exclusively for the purchase of a used car and is aimed exclusively at young people
The requesting subjects can only be private, and with an age between 18 and 27 years.
The amount payable ranges between EUR 3000.00 and EUR 30000.00 with a duration varying between 24 and 84 months.
The proposed TAN is 5.80% .
The signature of a co-obligor is not automatically requested: it can be requested if deemed necessary by Harryitalia.
The documents requested are always the standard ones mentioned several times.
The evaluation process is rapid, but no fixed terms are indicated. The payment, once there is a positive outcome, occurs within two days with crediting to a personal current account. Reimbursement by debiting the current account, installment, with SDD.
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If you do not pay the installments of a car loan, there are 2 possibilities:
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