Non-bank car loan – can it also be taken for a used car?
Let’s take a closer look at what a car loan is. See the conditions for taking out this type of loan.
In the case of non-bank loans, we will find both offers that can be used to buy the car as well as those where the car will be secured.
Is it time to change your car? You probably already know if you are going to buy a car from a dealer or whether it will be a used vehicle. If you have chosen the right model, you are determined to buy, you need to check the most important thing, namely your finances. Does the lack of adequate resources discredit us in the face of buying a new car? Currently, we have many options to finance a car, one of which will be a car loan.
A non-bank car loan will work well both when buying a used car and a brand new one from the salon. In the case of long-term, non-bank online installment loans, we are talking about amounts of PLN 10,000, as in the offer, up to a maximum of PLN 30,000 for other companies. These are standard amounts offered by non-bank lenders. We will not buy a new car for PLN 10,000, at most a few extras depending on the segment of the selected car. This amount, however, can convince us to buy a given car model and simply help in a situation where we do not have sufficient financial resources.
However, when we need a car for a long time, and such situations happen very often, a used car loan will be a good solution. Imagine that our old, worn-out vehicle broke down. The mechanic shakes his head, saying he can’t heal the car anymore. You come to the conclusion that repairs will prove to be too expensive and will go on forever. After all, a car is a piggy bank, especially for many years. However, you must commute to work every day, which is only possible for you by car. You think that the best solution would be to take out a car loan. If you manage to receive PLN 10,000 or more, you can easily buy a used car, which should last for a few years.
Car loans – what do you have to do?
To get a car loan , you don’t need to do any additional procedures besides the application. On the lender’s main page, you can use the virtual sliders to specify the loan amount and repayment time. The highest possible loan amount, i.e. PLN 10,000, can be spread over 24 installments. Such extended repayment time will allow you to plan your home budget calmly, and repayment of a small installment will not drain your wallet too much.
The next step will be to complete a quick form in which you will be required to provide personal data along with your phone number and email. Then we fill out some personal and employment information. We can choose the form of receipt of the money: by bank transfer or credit check – cash to be picked up at outlets after presenting the ID card and confirming the loan. Most importantly in the context of getting a car loan. In the registration form we provide the purpose for which we want to allocate money. In the selection field, select “car”, then go to the next stage and wait for the application to be processed. Choosing the purpose of the loan is purely statistical, but it also belongs to the internal scoring, which does not mean that we will be obliged to submit documents confirming the purchase of the car later. None of these things. How and for what purpose we will actually use the money from an online non-bank loan will depend entirely on us.
If we want to buy a car for a loan and have no savings, we should look around for offers to borrow much larger sums of money. In this case, cash loans, which can be found in the offer of traditional banks, will be helpful. A cash loan or cash loan is characterized by a high amount of financial liability. When choosing a cash loan, the applicant can even count on financial support of PLN 200,000. For this amount you can buy a premium class car – the choice alone from the models and brands available on the market will be huge. However, there are a few important things to remember about cash loans. First of all, many banks require collateral for the loan – it will be a declaration of voluntary submission to enforcement in the event of default. It will be more expensive to take out credit insurance. There are also loans in which the car will be secured as a pledge – in the event of failure to pay the repayments on time, we may lose our ownership, i.e. the car. Therefore, the costs for a cash loan will be the insurance required by the bank and the commission for granting the loan and, above all, interest.
In addition to the loans for car purchases described, it is worth mentioning car loans. It happens that not every borrower can show a positive credit history. Then, car loans can help, because the lender will be secured by the car we own. Thanks to this form of loan, we can receive quite high amounts. However, the biggest danger will be the lack of timely repayment. Why? We need to know that with the granting of the loan, we complete a number of documents from which it appears that our lender is considered a co-owner of the vehicle. So we have to go to the appropriate Department of Communication, where the official will enter the entry in the registration certificate. If the loan is not repaid, we will lose the right to use the car, which will be in the hands of the loan company. Therefore, you need to think carefully before you decide on this type of loan.
Long-term rental and subscription car
For private individuals, long-term rental may be an interesting offer. More and more car dealers offer car rental, in which, like entrepreneurs, we pay a specific installment monthly. The so-called. A subscription car is a form of car use by private individuals, not very popular in Poland, only collecting more and more attention from consumers. For example, in one of the new leasing and rental services for private individuals, we can use the new for PLN 1328 per month, when the contract period includes 24 months. This is the gross amount, which includes tires, service and insurance. After the contract expires, we simply return the car. We can’t buy it like in the case of leasing. It should be remembered, however, that subscription car offers also include fees for each kilometer driven. In the calculation, with selected rental parameters, we pay 34 groszy for every kilometer driven.
As you can see, the financing options for buying a car are many. It depends on our preferences and current needs which form of financial support we need to buy the car. To sum up, we can allocate each non-bank loan to the purchase of a car, including a used car.