Whether for a new job or for the family, a car is often important or even indispensable. If you're looking to buy a used or new car, your car dealer will probably tout the benefits of leasing. However, we see it differently, which is why you should consider our flexible car loan. To make sure you know all the facts about the two alternatives, we've compared car leasing with our online car loan. Decide for yourself which finance suits you.
Buy or rent
If you choose to lease, the car does not become your property. It remains the property of the bank. You only buy the right to use the car for a fixed period of time and an agreed number of kilometres. This means that you are not allowed to sell the car. However, if you wish to do so, the dealer must agree to the sale of the car. After his agreement, he will redeem the motor vehicle at the bank. In contrast, with a car loan, the car is yours from the start, so you can sell it at any time. You alone will decide when the time is right to do so.
Your obligation does not end with the expiry of the contract
With car leasing, after you have paid all the monthly instalments on time, the remaining balance becomes due. If you can't or don't want to pay this, the vehicle will be returned to the dealer. However, if you have opted for our cheap car loan, you can finance the remaining balance discreetly and easily. Another advantage of this alternative is that you can claim a small loan on your tax return.
The car insurance
Once you have purchased a vehicle, you must insure it. In the case of a personal loan, it is up to you whether you choose partial or fully comprehensive insurance. In the case of a leased vehicle, the customer is required to choose the latter. You should bear in mind that taking out insurance for a leased motor vehicle is considerably more expensive than for a purchased one. If an accident results in a total loss, comprehensive insurance will only pay the current value of the car. You have to pay the remaining balance out of your own pocket. In addition, the lessee must replace vehicle damage with original parts. Furthermore, at the end of the contract, the garage owner can charge for any damage that goes beyond the usual signs of use.
Conclusion
As you can see, there are several aspects that speak for an online personal loan. On our loan calculator you have the opportunity to calculate different financing options. Of course, you can also apply for your vehicle loan online right away.
Article as PDF: Our car loan - the favourable vehicle financing.pdf