For many of us, the car is the main way to move to work, shop or friends. Without him, we would spend a lot of time in buses and freeze at bus stops. Therefore, today most families have at least one car. Without it, we feel like without a hand!
Car sales in Poland are currently very good. We mainly buy used cars, both those from Polish distribution and imported from abroad. Every day, new offers appear on advertising portals, in commissions and on stock exchanges. We can find both a car costing a few thousand zlotys and a higher class vehicles for tens of thousands, which, as new, cost several times more. Thanks to the wide assortment, everyone can choose something interesting for themselves.
With the choice of the right car, therefore, we have no difficulty. Problems can, however, begin when we need money to finance the purchase. If we do not have an adequate amount set aside, then the only solution will be a loan.
Where can we apply for a car loan ?
We can get a car loan from both the bank and we can contact non-bank institutions.
It is also worth pointing out that we can get a loan directly in the dealership. Many dealers cooperate with banks and thanks to that we will be able to arrange the formalities related to financing the purchase.
In principle, it is most profitable to take a car loan, or a special purpose loan – intended for the purchase of a car. In this case, the car is also a security, which is why banks use more attractive conditions and lower interest rates. Therefore, a car loan is more favorable than a cash loan.
However, we can get a car loan if certain requirements are met. We will get it for both new and used cars, but in the case of used vehicles crediting is possible only when the car has a certain age. Most often, the limit is 8-12 years, with the loan period also depending on the age of the car. The older it is, the shorter the loan time will be. It is also worth mentioning that the interest rate may depend on the age of the car, i.e. the older vehicle will pay more.
In order to obtain a car loan at the bank, we must have adequate creditworthiness and a positive credit history in the databases, for example BIK. When we have low or irregular incomes, we had problems with repayment of debt in the past or just a car that was spotted is too old for the bank to agree to a loan, we can take a non-bank installment loan.
The main advantage of loans of this type is its easy availability, because the installment loan in parabank is available on more favorable terms than in a bank. We can get it at irregular incomes, and sometimes even if we have a negative BIK.