count on us now, a strong partner for suitable car loans and fulfill your dream car quickly and easily.
Car loan
great discounts with a car loan from maxda
The car loan from MAXDA for new car and used car: use our car loan, to find the best loan for your car. So you can act as a cash buyer at the dealer and get good discounts!
Financing offers and conditions from dealers are often not very flexible or tied to specific models. The MAXDA car loan is individual, quickly applied for and offers monetary advantages for car buyers:
The favorable MAXDA car loan:
- Low interest rates for your car loan
- Fast credit approval by MAXDA
- Act as a cash payer and collect discounts
- Free choice of insurer
- The car title remains in your hands
- Processing of your car loan request also on weekends
Many car buyers who have found the car of their dreams at their local car dealer now take advantage of the opportunity to take out a loan for the car. So it is not necessary to pay for the car from your savings. The vehicle can financed in monthly installments become. The installment amount for a car loan is based on the selected contract term, which can be agreed individually for the financing.
Your car loan from MAXDA
quick& simply to the next car
The car is still a symbol of mobility in this country today. In rural areas in particular, residents are still dependent on their own car to go to work and buy everyday necessities. But very few people can afford a new or used car simply from their own assets or income. With an attractive car loan and good conditions, it is possible to finance the purchase of a car without any problems in most cases today. If you are also looking for a favorable car loan, take a closer look at our offer! We provide you with car financing with precisely tailored features and loan amount at really favorable interest rate conditions!
- CONTENT OVERVIEW ON THE SUBJECT OF CAR LOANS
- what is a car loan?
- applying for a car loan – this is how it works
- what is important for a car loan?
- Why is a loan comparison so important??
- special repayments or the complete redemption of the car loan before the end of the term are possible?
- how fast is a car loan paid out?
- do i always have to deposit my vehicle registration certificate (registration certificate II) with the car loan?
- what happens if i can no longer pay the loan?
- is residual debt insurance useful for a car loan??
- what are the advantages of taking out a car loan online??
- car loan without schufa
What is a car loan?
The word "car loan" is a colloquial term for numerous forms of car financing and also refers to an installment loan tailored specifically to the purchase of a car. The basic aim of any car loan is to cover the purchase price of a car with external financial resources and to repay the borrowed sum plus interest within a certain period of time. In the following we will show you different forms of car loans:
The classic installment loan
Many banks nowadays grant installment loans that do not have a predetermined use. Thus, they can of course also be used for the financing of a car. The main characteristic of an installment loan is that it is repaid in constant installments. The interest portion decreases with each additional installment, while the repayment portion increases at the same rate. A repayment plan for a loan in installments would look like this for a loan amount of 8.000 in the first 12 months, for example:
Month
debt level
previous month
Payment in installments
at the end of the month
From
interest / fees
From this
repayment
debt level
at the end of the month
After the first 12 months, the interest portion of the repayment installment has already been almost halved, so that the repayment can be completed even faster. This effect arises because interest only has to be paid on the remaining debt.
The specialized car loan
the specialized car loan is the classic form of car financing. The borrower takes out a loan with the bank for a new or used car and also informs the bank of the desired purpose of use. This has some advantages compared to the conventional installment loan:
Lower interest rates:
It is not uncommon that more favorable conditions are granted for car loans, because the bank knows the purpose of use. The vehicle is an asset that can be used as collateral in the event of an emergency. In this way, the probability of default is reduced, so that better conditions are possible.
Additional security:
Some car loans are still secured by transfer of ownership of the registration certificate II (formerly the vehicle title). However, this is also only possible via a special car loan.
Except for these special features and the earmarking, the car loan is constructed in exactly the same way as a conventional installment loan. In cooperation with many partner banks, we offer you the opportunity to find a car loan that suits you perfectly and is also easy on your wallet.
Except for these special features and the earmarking, the car loan is constructed in exactly the same way as a conventional installment loan. We offer you the possibility, in cooperation with many partner banks, to find a car loan that fully suits you and is also easy on your wallet.
Dealer financing
Another option for car financing is to take out a loan directly through the car dealer. Today, almost every dealer works together with a car bank and offers supposedly favorable financing conditions when buying a car. Sometimes there is even so-called "0% financing", where no interest is charged at all. Nevertheless, dealer financing does not necessarily have to be more favorable. The following arguments can speak against this:
- Lower discounts: Since the discount for cash buyers does not apply to dealer financing, the bottom line is that you can negotiate a significantly lower discount than with a car loan from the bank.
- Model-dependent interest rate conditions: Car dealers can use favorable interest rates to promote certain models. For this reason, the really favorable interest rates are granted mainly for rather expensive models.
The following example is intended to show what is important when deciding between dealer financing and a car loan:
Car loan
Dealer financing
Purchase price
Interest rate
Discount
Loan amount
Term
Repayment rate
Interest costs
Total amount
Savings
2.141.20 euro
Often, complete car insurance packages are also offered with dealer financing. A closer look is also appropriate here, because the insurances in this area are not always really favorable.
When should car buyers opt for dealer financing??
dealer financing is always more favorable than a conventional car loan if the interest savings are higher than the cash discount. Therefore, it is important to consider both options before making a decision. At the beginning stands here the credit comparison, because this represents a further advantage of the autokredit. You will also receive a loan with particularly favorable conditions from us, because we compare the individual banks beforehand and select the most attractive car financing for you.
The car loan with final installment
The car loan with balloon payment is often referred to as balloon financing, since a high balloon payment is due at the end of the term. The major advantage is that the borrower has to pay significantly lower installments during the term than with a conventional car loan. This is due to the fact that not the entire loan amount is repaid with the installments, but a sometimes quite high final installment remains. A car loan with a final installment can normally only be taken out through a car dealer and has the following advantages and disadvantages:
Advantages:
- Low monthly charge during the term of the policy
- More expensive car models can also be financed in this way
Disadvantages:
- Higher interest costs, since the final installment is subject to interest over the entire term of the contract
- High final installment, which can easily be underestimated
- Risk of further borrowing with interest costs if the final installment cannot be paid
- Risk of not receiving enough proceeds from the sale to pay off the final installment
When does a car loan with a final installment make sense??
Since a car loan with a final installment is almost always more expensive than a conventional car loan, it is more of an emergency solution. This means that it only makes sense to take out such a loan if the borrower cannot otherwise afford the high installments for the car he wants. However, it should be ensured that a larger cash inflow can be expected at the end of the term (fixed deposit account runs out or endowment insurance can be used).
Tip: you need a new car, but can only afford a low loan rate? In this case, a longer term for your car loan may simply be interesting. We’ll be happy to help you find the best balance between interest costs and installment amount!
Car leasing
Another form of car financing is leasing. In this case, the car is not purchased, but borrowed for a monthly leasing fee. Leasing has a number of special features:
Lessee initially not an owner: the lessee does not become the owner of the vehicle, but returns it at the end of the term or buys it at that time.
Costs often unclear: the cost of leasing offers is not always easy to grasp, as there are several sources of cost. On the one hand, all lessors charge a monthly leasing instalment. However, it is not uncommon for a special leasing payment to be made at the beginning of the contract period. only the combination of these two points gives the true cost of leasing.
Additional costs at the end of the contract: if lessees opt for mileage leasing, they may only use the car for a certain mileage per year. If the mileage is significantly higher, special payments are made for each kilometer driven. With residual value leasing, on the other hand, the lessee bears the residual value risk. If the vehicle cannot be sold at the agreed residual value, the lessee must pay the difference out of his own pocket.
When is car leasing really interesting?
Basically, car leasing is a rather expensive form of car financing. Only the use of the car is paid for and the lessee does not acquire ownership of the vehicle. Although the initial outlay may seem low, lessees also forgo the residual value of the vehicle at the end of the term. After all, you could often sell your own used car for an attractive price after a few years. Nevertheless, there are situations in which car leasing can be quite interesting:
- Company owner You can immediately deduct the leasing fees from your taxes without having to capitalize a new asset.
- Who would like to drive a car model, which he cannot possibly afford to buy the car, may find a possibility via leasing.
Applying for a car loan – this is how it works
You are interested in a favorable car loan and would like to apply for it in an uncomplicated way in cooperation with experts? In this case, you’ve come to the right place, because we’ll find the perfect car financing solution for you at favorable interest rates. For this, only the following steps are required:
-
Entering personal data
What is important with a car loan?
Anyone who is interested in a car loan naturally wants to take advantage of it as cheaply as possible. A car already brings along costs for fuel consumption, taxes, repairs and insurances. The following questions are therefore particularly important when looking for a car loan:
which interest rate is decisive when comparing loans?
The market for car loans is large, as many banks offer such financing. But how can you actually identify a cheap car loan?? The correct cost measure for a loan in this context is the so-called
E effective annual interest rate. This is a legally defined size, which according to §6 of the price information regulation (pangv) must include the following cost items for consumer loans:
- The nominal interest (pure interest costs) – target interest rate
- brokerage costs
- account management fees
This way, low nominal interest rates with hidden fees are easy to spot, because the effective annual interest rate must directly price in all mandatory cost items.
Why is a credit comparison so important?
With a loan comparison, you can choose the car loan that best suits your needs from the many different offers available
Nen desires fits and in addition also particularly favorable conditions with itself brings. The following example is intended to show in more detail how high the savings can be by selecting a favorable credit: