Buying a car is a huge burden on your household budget, but it is not a problem if you decide on a special-purpose loan. What, however, you may not know about a car loan, and what can be the advantage of such an agreement over leasing or ordinary rental?
Loyalty structure of cooperation with automotive banks
A very popular practice is the cooperation of a retail bank with a dealer, which allows developing preferential terms for servicing the liability. Dealers also promise to buy back the vehicle at market prices with balloon installments. This will allow you to choose a new car literally after a few years without having to engage your own cash. Most often, the amount from the sale is enough to cover the last balloon installment and the first installment of a new car loan. In this case, we can talk about basic loyalty building.
High flexibility of matching the debt form
Car loan does not apply only to passenger cars, vans. You can easily invest in motorboats, scooters and even an agricultural tractor with a valid registration certificate. The car loan covers new or used vehicles and gives great flexibility. Car loan is one of the most refined forms of debt in retail banking. Many customers complain about large formalities, but the reward for completing them is a much lower interest rate compared to a regular cash loan. After paying off the car loan, it belongs to you, which cannot be said for leasing. There is a cult of ownership in Poland. This applies to cars, real estate, home appliances. Car analysis in most analyzes wins with leasing and renting, even for the needs of business clients. There is also no problem to take a car loan with two people with positive credit standing.
Go to the automotive bank
The bank associated with your favorite car brand is the best partner because it provides preferential conditions for servicing, insurance and even potential sale of the vehicle. If you do not value property so much and you want to change your car from time to time to get a better model, get interested in balloon installments for 3-4 years. A car loan is a proven alternative to leasing and renting.