Car Buying Zero Percent Financing

Car purchase zero percent financing. Consumers often believe that they can buy cheap products without incurring additional costs through lending rates. For some traders, the “zero-percent financing” is possible only during the action times, for other sellers, it is permanently possible. Read robertdhogge.com for a critique

Here it is very important to pay close attention to how much money must ultimately be spent to pay the car in installments and not at once. Otherwise, financing can become a very expensive affair. That sounds so tempting – zero percent interest on the new car and the passbook remain untouched.

Buy a car: Zero percent financing only supposedly cheap

Buy a car: Zero percent financing only supposedly cheap

Numerous car dealers offer interest-free financing for new and used cars. Motorists can save up to 4,200 USD by taking out a loan from a house bank. “Zero percent financing is promoted by the producer or retailer to increase sales, and if a buyer gives up zero percent financing, they can negotiate an increased discount on the list price.

A loan of this size can be obtained from the cheapest credit institutions at an effective interest rate of 2.79 percent (4-year term). In the dealer-independent loan, customers in the automotive trade behave like barges. If they bargain for a discount of just 5.4 percent, their overall costs are exactly the same as for zero-percent financing without further discounts.

“Some banks grant loans to buy a car at a particularly favorable interest rate,” explains Oliver Mayer. In addition, the car buyer remains more flexible with a dealer-independent installment loan. “Many car loan institutions require the deposit of the vehicle registration,” says Oliver Mayer. For vehicle buyers, there is a high discount on the network for special new car agencies. According to the “Center Automotive Research” of the University of Duisburg-Essen, there is currently an average discount of 18.5 percent on the target price.

Car financing with an installment loan would, in this case, be 4,200 USD cheaper than zero-percent financing without any further deduction. To achieve this, the local car dealer – in addition to the zero-percent financing – must allow a discount of 13.8 percent on the base price. Two-thirds of all customers receive this or a cheaper interest from the house bank.

Zero percent financing – deposit surcharge!

Zero percent financing - deposit surcharge!

Buy a new car, a computer, or the much-anticipated home-style kitchen today. The financing of the dream can easily be done with a zero interest rate. But only in rare cases do these offers fulfill what they say. But those who believe that meeting these requirements will immediately receive the desired funding will soon be disillusioned.

Unfortunately, the ad often does not adequately refer to this issue, so many dream experiences come to an abrupt end in this steep position. But if you have passed the credit check successfully and have received the desired loan, the next surprise is that the banks suddenly demand additional expenses from the borrower, such as settlement fees, account money or other.

Car loan. Quick and trouble-free

 

A car loan is a way to make your car dream come true without having to fight the bank bureaucracy. We understand that a car is a huge expense and few people can afford to buy it without financial assistance, which is why we offer an easy and simple loan, and advise how to choose the right car.

What should the dream car be like?

What should the dream car be like?

First of all, it is worth investing in a newer car with a proven brand. What about the fact that the price of an older car will be lower, as it may turn out later, that the purchased vehicle will stop with a mechanic more than it will be used for driving. Therefore, it is better to take a higher loan for a car and enjoy a really functional car afterwards than to regret it.

The most profitable is to buy a 3-4 year old car, because its value does not decrease as dramatically as in the first years. What’s more, most 3-4 year old vehicles are also in very good condition and should not be a problem for the next few years. Here, however, you should be very careful, because due to the fact that the market for these cars is extremely hot, you can meet with cheaters. Therefore, before paying cash, it is worth going to the mechanic of your choice so that he can assess the condition of the vehicle and its real age.

How to choose a car loan installment?

How to choose a car loan installment?

The most important rule is “borrow only as much as you are able to give back”. To calculate the highest installment possible, you need to sum up your family budget. After calculating the total income and expenses, we can spend the excess income to pay off the car loan monthly. Why only ¾? It’s simple, in life there are unexpected situations in which cash is needed, such as illness, bumps, broken kitchen equipment, so it’s always good to have some money in your pocket so you don’t burden your budget with additional loans.

What should you remember before buying?

What should you remember before buying?

A car loan with interest is not the end of expenses related to buying a car. Remember that you also need to take out insurance. In the country, buying civil liability is compulsory, and if you didn’t have a car registered before, it can be quite a big expense. Another thing you can’t forget about planning your expenses are reviews and minor repairs, and buying winter or summer tires, unless sellers have added them to the set. It is worth considering these expenses when applying for a loan, because it is more profitable to take one big commitment than a few small ones.

How do you get money to buy a car?

How do you get money to buy a car?

To receive money, simply submit an application on the website. The portal works with leaders on the car loan market, so you can be sure that you will receive the best offer on the market. How is it working? It’s easy. onsidering your application, is looking for a company where you will have the best opportunity to receive the most convenient commitment, and because it works with all major lenders on the market, you can be sure of receiving money.

The security of banks and credit companies is newly rated

Check out the presentation with the results of the current Study Navigator Safe Credit

Check out the presentation with the results of the current Study Navigator Safe Credit

“Although this may not seem to be the case as the results are similar to those of last year, there have been significant changes in consumer credit on the market in 2016,” says Michal Mejstřík, Professor at Charles University and guarantor of the whole project.

As he adds, this is largely due to pressure not only on safe but also responsible lending, but the preparation for the functioning of safe companies after the entry into force of the new Consumer Credit Act becomes increasingly strong. This will happen on December 1, 2016.

“First of all, it is very nice for us to see that its approach to loans is slowly but still changing banks. In recent studies, these have not been performing well in the long term, mainly due to various fees associated with loans or sanction conditions. This year we see only slow, but still improving, ”says expert

In 2016, the Astro Finance was surveyed for 42 providers and a total of 69 consumer loans. However, only 19 entities have been categorized as ‘secure providers’. Among them are mainly banks.

New – distinguishing safe by convenience shows NBU rating

New - distinguishing safe by convenience shows NBU rating

A new feature of this year’s Astro Finance is rating. Assessing only safe lenders is a preparation for a change in the study, which will take place in response to a change in legislation and hence also the functioning of the credit companies themselves.

“With effect from 1 December 2016, the Astro Finance will lose its original meaning – the classification of entities between safe and dangerous (gray zone, usurers), due to the CNB’s licensing and supervision by the institution. Nevertheless, a large number of aspects that will be good to monitor, evaluate and provide the results of this analysis to consumers beyond the legal parameters and specifics, ”explains Professor Michal Mejstřík.

In 2016, we are talking about the Transition Year study, which on the one hand “finishes” the old evaluation according to the original criteria, and on the other hand, the Study also gives an insight into its future. This year’s rating, although not yet covering all the parameters of the following years, allows to simulate a new categorization of credit companies on the market into consumer credit rating categories.

Will legal change bring large sales of borrower contracts?

Will legal change bring large sales of borrower contracts?

The new Astro Finance study is presented literally on the eve of the most fundamental change in the credit environment in the last 20 years. Legislation that will now begin to “flip” into life, which will include, for example, the CNB’s methodology for licensing companies, the number of entities going through the process, and the state’s approach to law enforcement, especially for those who decide to lend outside legal framework, accommodates responsible lending and consumers.

Although it is necessary to wait for the impact of the new legislation, it can be assumed that the first wave will result in a substantial resale of credit agreements, not only for lenders who will gradually phase out, but also for many others who want some contracts to clear up their portfolio. It is estimated that this will be tens of thousands of contracts.

In this context, it should be noted that the credit agreement remains valid in the form in which it was concluded. However, some contractual fees may vary with reference to the current price list, as may the approach to recovering overdue receivables.

“A claim cannot be charged if it is properly repaid, but otherwise there may be a fundamental change. Consumers should be cautious during this period if they solve their credit repayment problems and be interested in whether their contracts remain with the original owner of the credit or whether they are sold, and under what conditions they will be sold. the new owner of the receivable to act, ”says Zdeněk Soudný, spokesperson for the Navigator of Safe Credit project.

Postal loans without payroll

Loan without pay slip Good Bank for young and old: possibilities and alternatives

Loan without pay slip Good Bank for young and old: possibilities and alternatives

It may be more complex for young people to be able to obtain personal loans, or loans aimed at buying a car or even goods of lesser value or value. Given the history of the Italian Post Office, which are still not seen as a company with private participation (compared to the version of many years ago of a wholly state-owned company), one might think that one could ask for postal loans without a pay slip and without guarantor, but even in the case of the Special Cash Postepay Loan, you can’t hope to get what you want if you don’t have guarantees to offer.

True or false: is it possible to get loans without payroll?

True or false: is it possible to get loans without payroll?

The pay slip is not the only form of provable income. What matters is that you have an official certification that certifies your income capacity (payroll or Unico). Furthermore, with respect to banks, Post services does not issue loans directly, but passes, depending on the types through Cream Bank, which are the owners of the preliminary stages and are also the institutions that will pay the sum eventually granted, obtaining a refund by paying the installments.

Therefore the particular nature and corporate composition of Good Bank has no importance from this point of view. As mentioned, even in the case of the Special Cash Postepay you must have a demonstrable income considered acceptable by those who carry out the preliminary investigation, without the possibility of derogating from it, where the pay slip can be replaced by a declaration attesting to the existence of a working relationship that exists from at least one year.

The situation changes if there is a guarantor who has a good income capacity, always demonstrable, which very often represents the only alternative for young people or for those who do not have a certified and accepted income. The placement role of Good Bank also limits the option of access to credit through the offer of securities under guarantee, proposed instead by the other banks (especially those that are born or that give a fundamental role to the aspect of investment bank).

Conclusions

Conclusions

If you have neither a guarantor nor a single or paycheck, then you can see if you have the possibility of accessing the loan on pledge, but not with Good Bank which does not provide this kind of solution. This does not imply that if you are a satisfied Post services account holder you will have to open an account with another bank.

The advantage of the pledged loan lies in the fact that there is no assessment of creditworthiness and income, and that no account must be opened, but the sum obtained, based on the valuation of the pledged asset, takes place through a bank draft or transfer to the bank details communicated to the lender.

Bank loan and the age of the borrower, at what age it is best to take loans

Bank loans and the age of the borrower. What amounts are available for each age group?

Every person in life may need to raise cash. Everyone may need a bank loan, regardless of age. Does it matter at what age the client applies for a loan? Will 19 years old get the same offer as a person over 30? We will try to answer the most frequently asked questions from our clients. How does the borrower’s age affect banking offers?

The borrower’s age, therefore, a lot of myths have accumulated, so we will try to discuss them and present how it is in practice. For the sake of clarity, we will present several age categories. They certainly do not refer to the offers presented by banks, because the bank does not provide information on the approach to age. They are only an attempt to rank the banks’ approach to people of different ages based on our experience.

Bank loan for the age group 18 to 21 years.

Banks will not have amazing amounts to offer in this age group. Young people are usually not yet stable. They do not have a stable job that would guarantee the possibility of paying off the loan for the next few years.

A person with no credit history and permanent employment can count on bank loans up to USD 15,000 most often. After six months of repayment, the appearance of a positive credit history will be available to her higher amounts, up to USD 150,000. At the very beginning, banks will offer smaller amounts to build customer confidence.

The borrower’s minimum age depends on the bank. For 18 years, banks will propose relatively small amounts. Banks are relatively the safest, for which the youngest customer may be the one who is celebrating his 21st birthday today.

It is worth remembering that banks do not credit such young customers the best. If a young person needs a larger amount, it is worth thinking about an approach to a loan with a guarantor, or build a credit history, which significantly helps in obtaining good and large loan offers. To sum up, the borrower’s young age is relatively small amounts obtained and expensive offers.

Bank loans in the 22-28 age group.

Bank loans in the 22-28 age group.

The described period marks the beginnings of stabilization of people interested in loans. The first serious job, starting a family. As a result, banks give the group a bit more confidence when they see the work history or its continuity with subsequent employers. In this group, people without a credit history will also not get large amounts, but they will not have a problem with amounts of 30,000. If they have a credit history, banks will not apply limits. Only offers received will not be among the cheapest due to age, slightly different from the model client.

Bank loans for people between 29 and 45 years old.

Bank loans for people between 29 and 45 years old.

The age category is best considered by banks. A customer from this age group working on an indefinite employment contract is usually considered a model bank customer. Getting a mortgage in this situation will be the easiest, and the cheapest and the highest cash loans.

At this age, a statistical people is already a stable professional figure. Banks also see in this group the lowest loan loss ratio . This means that people who take loans from 29 to 45 years old are their best payers.

Even when working on mandate or fixed-term contracts, banks consider clients better if they fall under the age category we describe. It may happen that 20 and 35 years old in the same situation will meet with a completely different decision of the bank. The first one will get a refusal due to high credit risk and the second one will leave the bank with the corresponding offer of a cash or consolidation loan.

Bank loans for thick age from 46 to 65 years.

Bank loans for thick age from 46 to 65 years.

This group is also a fairly good group for banks. Stable work and life provide good repayment options. In this group, borrowers already obtain fewer mortgages. More often they decide on consolidation loans, which are an ordering of their liabilities. The Group is paying more and more attention to the cost of loans, more often it agrees to additional credit insurance, which in the event of an accident or death will not burden the loved ones. People from this age group are also more likely to become co-borrowers or guarantors on their children’s loans.

Bank loans, borrower age 66 years plus.

Bank loans, borrower age 66 years plus.

People over 66 are quite a problematic group for banks. An average people lives on average 74 years, an average people lives 81 years old. Banks are afraid of lending to clients over 70 or 80 years old. Granting a loan to a 70-year-old customer for 12 years would be associated with considerable risk for banks. Therefore, almost all loans for seniors granted by the bank are encumbered with additional insurance in the event of the borrower’s death.

Typically, banks determine the maximum age of the borrower assuming repayment of the last installment of the loan obtained. The issue of the maximum age in banks is quite mobile, which is why it is difficult for us to list which specific banks best approach advanced age. It is good to ask a proven advisor which banks currently have amounts of a certain age. Advisor will certainly tell you which banks have the best offers for older people in a given month.

Car loan: for or against a car with an automatic gearbox?

Very widespread in North America, cars with automatic transmissions took their time to settle down in the manners in Europe.

But with sales growing steadily in France, auto boxes now have a bright future ahead of them. In 2016: they represented a quarter of new car sales in France.

Easier learning, smoother driving

Easier learning, smoother driving

Thanks to automatic transmissions, learning to drive becomes a much easier task, as young road users do not have to worry about changing gear.

Once the license in your pocket, driving with an automatic transmission also marks the adoption of more flexible driving, gear changes are not exposed to improper handling by the driver.

Fuel consumption: double-edged

Fuel consumption: double-edged

The question is often asked: will I save fuel by driving an automatic transmission? Verdict: it depends.

If your journeys are mainly urban, with frequent stops (at a stop sign, a red light etc.) with a moderate speed, you will see your fuel consumption drop. On the other hand, the trend will be reversed on long journeys on expressways.

Slower gearbox wear …

Slower gearbox wear ...

Managed 100% by the on-board computer, shifting into an automatic gearbox greatly improves the length of its service life. Thanks to its optimal gear change, the automatic gearbox protects itself from human hazards (bad press on the clutch, badly engaged gear, etc.) to avoid you going through the garage box as long as possible.

… But more stressed brakes and higher maintenance costs

 

On the other hand, the absence of an engine brake places more strain on your brake pads, which will wear out a little faster. In addition, the maintenance of an automatic transmission car generally costs a little more.

Lower driving pleasure

Do you like driving sensations, the possibility of managing your engine speed? The pleasure of driving? Unfortunately, this type of feeling is significantly reduced by switching to the automatic transmission.

The automatic gearbox, the future of our cars?

The automatic gearbox, the future of our cars?

All manufacturers will tell you: in the medium term, you should expect to see the automatic transmission become widespread on production models in France as in the rest of Europe. You might as well anticipate and familiarize yourself with it now, especially as the adaptation is done in a few minutes of driving!

Auto loan for the purchase of your car with auto box

Auto loan for the purchase of your car with auto box

Convinced? Consider an auto loan to buy an automatic car. Depending on your ability to repay this type of consumer credit, the establishment will lend you a more or less large envelope. Compare offers to make the right choice.

Find your consumer loan at the best rate, it’s easy and free!

How to teach your children how to organize personal finances

To organize the budget and invest in some family-wide dream, such as getting into a new car or taking a vacation, children’s participation is essential. The first step in motivating children to participate is to teach them the importance of saving. Even simple practices, such as cutting ice cream after school and giving allowance, make a difference and help little ones understand the importance of financial education.

Here’s how to teach your kids how to organize personal finances:

 

Set an allowance

money allowance

Depending on the age of the children, an important step in teaching them how to manage money is by giving them a symbolic allowance. It is important to explain that money should not be spent all at once because if it runs out, the child will have to wait until next month to buy anything else.

 

Show that nothing can be achieved without effort.

personal finance

Explain the difference between tasks that are a child’s obligation, such as making a bed and storing toys, and those that are extra activities, such as helping to store groceries and mop up. to take the option of the furniture. Every time the little ones do an extra task they can be rewarded for it. This practice will make it clear to them that it is worth the effort, as they will receive it.

 

Reinforce the importance of saving

Reinforce the importance of saving

Teaching little ones to save early helps to create healthy financial habits. Talk to the children and together set a savings goal so that you define how the money will be used. Start with small values ​​and gradually increase as your child gets used to the practice. One way to stimulate savings is by combining that for every $ 100 you save you will complete with another $ 50, for example.

 

Teach how to avoid unnecessary spending

Teach how to avoid unnecessary spending

Superfluous spending can compromise the budget. Therefore, the sooner children understand how they can avoid such expenses, the better. A good way to introduce the subject is to say that the school lunch, for example, does not have to be bought in the cafeteria. When the little one takes food from home, in addition to eating better, he saves the amount he would spend in the cafeteria and can use the money for other things more important to him, such as a weekend movie theater.

 

Give the example

There is no point in educating children financially if parents themselves are not the example. Show your children how you keep spending under control and avoid impulse purchases in front of them. Teaching the importance of personal finance to children is essential practice to ensure they grow up. Knowing the importance of money and that they should never spend more than they earn. The sooner the little ones understand that it is essential to consciously consume and value what they have, the better off they will be in managing their own finances in the future.

Still have questions about the importance of personal finance for children? Leave us comments!

The repurchase of credits, with or without broker.

If debts accumulate, buying back loans is a solution to lower your monthly payments and avoid over-indebtedness. In return, the duration of the loan increases, bringing with it its overall cost. Let us take stock of this mechanism.

Lighten your monthly budget with the credit buyout

While immediately reducing the weight of repayments on your monthly budget, a loan repurchase allows you to obtain an amount in addition to the grouped loans. It is a way to finance another project or to have savings for the unexpected.

To restructure your debts, you can contact banking and financial institutions directly or go through a broker. The advantage of their support is the saving of time and obtaining better conditions. Thanks to his knowledge of the market and his privileged relationships with specialized players, he presents several proposals adapted to your situation and your needs.

All you have to do is make the right choice with sound advice, and sign the contract with the chosen bank. Once the legal reflection and withdrawal period has expired, the credit buy-back takes effect.

Fees to be paid for a loan buy-back

Fees to be paid for a loan buy-back

Please note, a credit buyback generates certain costs. Those on file are generally negotiable with the organization granting the new loan. The penalties for early repayment of restructured loans are also to be expected, as well as the land registration tax if the loan is guaranteed by a mortgage.

If you have used a broker, he must be remunerated only if you accepted one of the loan consolidation offers that he submitted to you, even if you signed a capital search mandate indicating his prices. 

Thus, despite the time he was able to devote to the processing of your file and the search for a formula for the repurchase of credits, article L321-2 of the Consumer Code prohibits him from claiming any payment from you before the conclusion of the new contract. Before writing him a check, make sure to check that the loan does not include his fees.