Buying a used car is not automatically a cash purchase. In the meantime, a car loan for used cars has become a widely used payment method.

This is due to the fact that used vehicles, depending on their age and design, are valuable items. Financing this project is a job for cool computers.

Credit through the seller

Credit through the seller

As with buying a new car, many car dealers or dealers offer financing directly and conveniently in-house. You work with a specialized bank. When buying the used car, the entire credit transaction is processed directly on site. This is convenient and particularly suitable for buyers who want a complete solution. You don’t have to apply for the loan from another bank first, the purchase of the new car for you is of course faster.

If a car loan for used cars is taken out directly from the dealer, there are also disadvantages to consider, which will later affect the total amount of the loan. In contrast to the new car financing, the interest on a used car loan is by no means always remarkably low. If the interest is extrapolated to the total amount, a previously cheap used vehicle can become a less advantageous pleasure.

Independent credit

Independent credit

If you want to increase your own negotiating position with the used car seller, you can take out a used car loan from an independent credit institution. Car loans are consumer loans, which are usually processed without special conditions such as the deposit of the vehicle letter. Car buyers then act as cash buyers and can negotiate substantial discounts on the used car price in many cases.

Converted to the total loan amount, there is still a cheap purchase at the end. Another advantage is that the use of the loan is not linked to the purchase price. So if there is anything left of the loan amount because the clever purchase negotiations could reduce the price, this is at the disposal of the car buyer.

Comfort is not always cheap

Comfort is not always cheap

The convenient way through the seller’s house bank is not always the cheapest way with a car loan for used cars. In the case of a private sale, this variant is eliminated anyway and the path leads to an independent loan provider.

This type of financing, which separates the used car purchase from the loan, is also worthwhile in all other cases. It strengthens your own basis for negotiation and leads to considerable price advantages.

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