The best car loan, for purchase or to take advantage of a lease, exists but on condition that an analysis is made on what we actually need first (see also best loan for restructuring ). In fact, it is not said that the best car loan is a leasing, or that one must necessarily pass for the purchase, given the numerous options that also exist with long-term rental forms.
Best car purchase loan: is zero rate possible?
Every now and then some car brands offer their best car loan, taking advantage of the zero rate formula. If we look carefully at the conditions, however, we realize that a real 0 rate will hardly be proposed. So the risk is that to chase the flag-waved loan without interest you end up choosing a car that is not for us or that does not convince us (see also car insurance in installments ).
We could then find ourselves paying an installment that has no “interest” but which is accompanied by a series of fixed costs (such as installment management or the like) that affect for several percentage points.
Tip N.1 – In front of these offers presented as unmissable of the best car purchase loan, it is better to take the time to carefully analyze the situation of the financing conditions, and also to make some comparisons with other products (using the comparators or asking freely other quotes on other models or at other dealers).
Best car loan: personal financing or from a dealer?
There is no single rule: it may happen that for our situation the best car loan corresponds to a personal loan request, or that instead concerns a loan from a dealer. On a statistical level, it is much more likely to come up with the best economic conditions, with lower rates, if you turn to the financial statements of a dealer.
This is especially true when it comes to car brands that also have a bank or a financial company in their group, which creates ad hoc products to encourage or facilitate the sale of cars.
However, it should not be taken for granted that it is always the best choice.
Tip # 2 : Also in this case, the advice is to get several quotes from the various dealers with different possibilities and independently request quotes online, for loans of the same amount and for the same duration.
With a simple comparison, the situation can become much easier to choose the best car loan.
Best car loan: for purchase or leasing
Leases have also spread for private individuals, which are proposed as the ideal solution, such as the best car loan, without having to bear the risk of devaluing the vehicle.
However, in the case of private individuals, the leasing formulas are mostly real loans accompanied by the formula for refinancing or the maxi final installment. These are solutions that often don’t agree.
Tip N.3 : You should never be convinced by advertising or by mere phrases that often accompany the two alternatives. Even in this case, only with a few calculations and a comparison between estimates can we realize if in our case the best car loan is a lease or a classic loan.
Best car loan: conclusions
The identification of the best car loan is possible, but on condition that an accurate research and a careful comparison of several estimates are made.
However, it must always be kept in mind that in some cases the best car loan is the only solution that can be covered. If you are having difficulty obtaining financing it is likely that it is better to contact the dealer who can help us overcome the difficulties of the moment.