A loan is the most commonly used and the most popular idea for financing the purchase of your dream car. The car loan sector is estimated at the level this year 5,1 one billion zlotys.
So nothing in doubt, that the proposal auto-credits still expanding, and some financial and banking branches clearly specialize in car loans.
Generally banks and financial institutions providing car loans they are divided into general, i.e. banks for which this type of loan is a supplement to the offer for loans, consumer goods, etc.. and typically car banking institutions, i.e. such, which target their own activities only on the automotive market.
Naturally buying a car can be financed in many different ways, not necessarily starting a typical car loan.
The offer of corporate banks of given brands that produce vehicles has an unquestionable advantage over commercial banks. Namely, applying for a car loan in such a bank and obtaining it does not require any problems and is by far the most comfortable method of obtaining funds for a car.
We will usually take care of all the formalities at the counter or at the desk of the representative residing in the dealership of a given brand.. In addition, there is usually an addition when we buy a new vehicle in the form of no commission or reduced interest rate.
Requirements under which they are provided car loans the shorter the loan period, the more favorable they are, the younger the car, which we want to purchase and the higher our own share. When determining the interest rate and loan commission, our credit history at BIK is practically always taken. If it is immaculate, we can count on lower loan costs.
Typical car banking institutions are Fiat, Volkswagen i Toyota. The ratio of loans for new to used cars in these banks is overwhelming and amounts to approx 90% in favor of new cars. This is due to the policy of these banking institutions and the very favorable conditions they naturally give for loans for new cars. In this way, they support their own brands and support their own production plants.
When it comes to used cars it happens that company banking institutions also help finance their purchase, but only when the vehicle is purchased through a dealer, i.e. through a dealership.