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Soft loan

 

 A low-interest loan is the desire of anyone looking for their preferred loan. Cheap loan opportunities can depend on very different factors. First, the right provider must be found. For some loans, for example the education loan, government loan offers are unbeatably favorable in the interest conditions and credit terms. Nevertheless, not everyone can take advantage of these offers.

euro

On the one hand, lending is tied to a specific purpose. In addition, the circle of authorized persons is restricted. Schließifizieren—Ä rau on the loan. If, for example, you need 20,000 euros instead of the 7,200 euros offered in the education loan to achieve your educational goals, you have to look for alternatives. Interest rates may be slightly higher without government support, but the goal of education can be achieved.

Corresponding examples can be found for almost every credit application.

Use your own credit rating correctly

credit score

 

The amount of the interest rate is not only influenced by the selection of the appropriate provider. Personal credit standing plays a key role in interest rates. Personal creditworthiness can not be easily assessed. Each credit provider has its own strategy. In-house regulations determine the creditworthiness. A clue to the personal assessment may be the profession. Good credit conditions provide a long-term employment with a reasonably high pay.

Another indication provides the checking account. For people who get along with their money, the account is not even in the red at the end of the month. The Dispo is virtually broke, with a few exceptions. Another relatively safe estimate can be derived from the personal Infoscore, which can be requested for free each year. Many credit providers rely solely on information provided by the Infoscore in their credit rating. A low-interest loan is almost always closely linked to the Infoscore.

Do not be blinded by favorable interest rates

loan interest

 

Cheap interest rates alone, which are far from providing a really cheap loan offer. The actually concluded loan terms can be much more crucial to the cost of a loan than half a percentage point more or less. To conclude a car loan without the right of special payment could already be rated as “almost grossly negligent”. Car loans are often not paid until the end. A model change or another dream car entices to give the vehicle ahead of time in payment.

Only those who have a special right of repayment with recalculation of all costs, who really only pays the used share. Another nice example, which can make a loan extremely expensive without appearing in the interest rate, is the residual debt insurance (RSV). Voluntary insurance coverage does not have to be reported within the effective interest rate.

 

Need a car? The car is ready to give up to 4000 euros right now.

Credit24 is one of the leaders in short-term consumer loans in the Estonian market. Company borrowers can get the amount of money needed not only to cover their current needs, but also to buy a car on favorable terms.

car money

Why Car Hire?

 

Of course, other companies can also offer a loan to buy a car, but not all of them offer really favorable terms for borrowing, and not all companies have the same reputation as Credit24 at Autoraha.

The company has been operating in the Estonian loan market for more than a year, not only in providing its customers with its services, but also in various social projects. For the past 6 years, the lender has received the most favorable reviews from customers, emphasizing the quality of service and the flexibility of the services offered by the company.

Today, there are more than 120,000 customers in Estonia who have cooperated with the Car Hire.

The company always receives its customers and is ready to answer all the questions, besides, applying for a loan is a very simple process that can be accomplished in just a few minutes. It is not necessary to transmit confidential non-loan data for this purpose.

Auto Money Credit Limit for Buying a Car

Auto Money Credit Limit for Buying a Car

 

Unlike other lenders that offer borrowers money to buy a car on terms that customers will pay interest on the entire loan, a different solution is offered – the credit account that customers receive according to their needs. If a customer does not need a maximum amount of € 4,000 , only a portion of the money and interest can be saved.

Thanks to the flexible repayment schedule, customers can not only save money, but also have the opportunity to distribute their budget. Another advantage of this loan product is the need to submit only one application after which you can use the money for any purpose, not just to buy a car. The minimum loan amount is 50 euros . The money will be credited to the customer’s account within 15 minutes of the request.

The lender deals responsibly with the consideration of the loan application and offers its clients individual conditions that meet their needs. If the customer does not need the entire credit limit, the rest can be left in the reserve by paying interest only on the funds used.

The maturity of the loan is between 3 and 60 months. If the customer has repaid the original loan, he or she will no longer need to contact the credit institution for future borrowing because he / she can re-use the loan. In addition, if the customer does not use the funds, the borrowing rate will not be charged.  

Buying a Credit24 Car Scrap is easy and pleasant. Up to € 4,000 for up to 5 years. Loans are granted from the age of 18.

The main requirements for the customer

 

Before submitting a car loan application, the customer must first make sure that it meets all the credit institution’s requirements.

These requirements do not differ from the requirements of most other borrowing companies, but here are also some nuances. At a time when many lenders issue loans from the age of 21, Car Hire is ready to review the loan statements of 18-year-old customers.

Requests from customers who are Estonian citizens or who have a permanent residence permit are reviewed. Borrowers may also submit a credit limit request that takes into account their own cash flows. This is exactly what the company’s website says.

To put it simply, this means having a stable and sufficient income for the monthly obligations, the absence of overdue debts and a problem-free credit history. In addition, the borrower must have a personal mobile phone number, as well as an email and a bank account. Customers can apply for a credit limit at any time, even at night, and the money is transferred to the account between 8:00 and 10:00.

In general, it can be said that the Credit Limit on Car Hire has more advantages than drawbacks. It is very flexible, and sometimes there may be a good amount of 4,000 euros when buying large purchases such as a car.

 

How does car loan work? With or without security

There are many of our customers who have questions and concerns about this and it can be experienced as a jungle of different options. Especially if you want to buy a car for the first time. In this article, we therefore work out how the car loan works.

Car loan with or without the car as security

Car loan with or without the car as security

You can take two different types of car loans and depending on which option you choose it works in different ways:

  1. The car is used as underlying security for the loan
  2. The car is not used as underlying security, but you take a loan without collateral or a so-called private loan .

There are pros and cons of both types and below we describe these.

How does car loan work where the car is used as a security?

How does car loan work where the car is used as a security?

A car loan where the car is used as underlying security means that the loan is tied to the car and not to the person who owns the car. The following applies:

  • Most lenders require the car to be purchased through an authorized dealer. The advantage is that you can apply for the loan on the spot and get an answer immediately if it is granted or not. The lender pays the money directly to the dealer and you can in principle buy the car and drive home the same day.
  • If you buy the car from a private person who already has a loan on the car, you can apply to have the loan taken over when you buy the car.
  • You must have a cash deposit of at least 20% of the car’s purchase price or have a replacement car that corresponds to this.
  • The car should cost at least around SEK 100,000 depending on the lender. The maximum loan limit varies a lot depending on the lender.
  • The loan must be repaid within about 1-8 years.
  • The loan must be fully repaid when the car is about 12 years depending on the lender.
  • In other words, the car you buy may not be older than around 12 years.
  • On the day you sell the car, you also have to solve what remains of the loan as the loan is linked to the car itself. If you sell the car for a smaller amount than what remains of the loan, you are forced to pay a residual debt that can hit your finances hard depending on how large this difference is.
  • One advantage is that the interest rate can be quite low and that you can get other benefits with the loan as cheaper gasoline or extended guarantees depending on the lender and / or the dealer you buy the car.

Some examples of lenders of car loans where the car is used as underlying security are in addition to the major banks, Santander Consumer Bank, Wasakredit and the various car brands’ own financing services such as Volvia, Audifinans and more.

How does car loan work where the car is not used as a security?

How does car loan work where the car is not used as a security?

A car loan where the car is not used as underlying security is in fact a private loan, which means that the loan is directly linked to the person who owns the car and really has nothing to do with the car. The following applies:

  • You decide yourself from whom or who you bought the car from.
  • You can borrow all or part of the purchase price.
  • The lender pays the money to you and you therefore have to agree with the person you buy the car from how you pay.
  • Most lenders usually require that the loan amount be at least SEK 10,000.
  • You can take a maximum of SEK 500,000 in private loans.
  • The loan must be repaid for a maximum of 15 years in most cases.
  • It doesn’t matter how old the car is to be able to take a private loan.
  • The day you sell the car, you do not have to settle the remainder of the loan even if it is of course something you should do so that you are not drawn with a loan even though you no longer have a car.
  • When it comes to private loans, the interest rate can be anything from the right to high altogether depending on who is taking the loan. So what determines is the person’s financial situation and creditworthiness.

Some examples of private loan lenders are Santander Consumer Bank, Marginal Bank, Collector Bank, Forex Bank with many more. What we recommend when you apply for a private loan for the purpose of buying a car is to turn to a loan broker like us, where with one simple application online you can get your application tested by all the above banks and many more. So you can easily compare the options you get. Other benefits are that we only take a credit report that we share with all our banks plus you save time. Our service is free.