In any case, the ultimate goal is to return the entire amount lent to the person granting it. The most common method of buying a car, as mentioned, is to resort to a targeted loan through a captive institution. In this way you will enter into a contract directly with the car manufacturer, minimizing the number of intermediaries necessary for the operations in-house car financing services.
Most of the time, especially when it comes to used cars, in the advertisements broadcast on TV, web and radio, payment plans and financing with certain TAN and APR rates to be opened to buy the car are brought to the fore. The offers highlighted by these advertisements are activated through the dealers or their own or affiliated with the same.
When you go to the dealer to obtain a loan, you will first have to choose between the different options made available by the dealer.
The variations in the payment plan largely depend on the car model you choose, what engine configuration you want (methane, for example, costs more than the gasoline engine, the cheapest of all. The same goes for larger displacements. ), the options you want for your future car and in the case of leasing also the ancillary services you will want to have in the future (such as insurance, theft and fire, maintenance, extended warranty and much more). Once you have a clear idea of what you want in mind, you can request a quote from the manufacturer. At this point the dealership will offer you different payment methods, with more or less high figures.
The most common payment methods generally require a minimum advance of not less than € 500 and the installment lasts for three years. Once you get to the end then you will pay a maxi installment with the final amount to make the atuo completely yours.
This of the maxi installment is a somewhat dated system and the captives are evolving to overcome it. Some but not all financial institutions of the houses, at the end of the three years, propose changes to the financing plan which can be the return of the vehicle, with a repayment in installments by the dealer, the replacement of the vehicle by paying with a new installment the new one or simply a new installment plan. In any case, before opening a loan you must present your guarantees to the concessionaire , that is, the last pay slip, tax return or pension slip.