Financing and leasing - attractive offers

T he prospects are bleak. It's that easy to describe the situation in the car trade. Because after the scrappage frenzy, the buying mood of the Germans is subdued. So the industry has no choice but to pick up where it left off last year: In order to lure customers into the sales rooms, it will have to dig deep into its bag of tricks over the next few months.

Fierce discount battle after the scrappage bonus

But unlike in the times of the scrappage bonus, when simple cash discounts were sufficient to convince interested buyers, retailers and manufacturers are now choosing a colorful bouquet Estates. Financing is playing an increasingly important role. Opel, for example, recently revived the zero percent loan. The free loan was intended to boost sales of immediately available cars.

Fiat is currently reducing the list price of some models by up to 38 percent. The Panda, for example, is available this way from 5,990 euros. On top of that, the brand offers a cheap loan. Without a down payment, the car can be financed from around 60 euros a month. Mitsubishi also gives a bonus on the purchase price (up to 2,000 euros) and combines the whole thing with a 1.99 percent loan.

Manufacturers advertise all-round carefree packages

The so-called all-round carefree packages are also increasingly being used in advertising by retailers and manufacturers. In addition to the usual protagonists Ford and VW, Citroën, Peugeot, Renault, Toyota and, more recently, Opel are now also offering comparable offers. As a rule, the contracts include a maintenance contract and a warranty extension for a period of four years at zero cost. The whole thing is coupled with cheap financing and, occasionally, subsidized car insurance is also added. If the customer compares the bonuses with a cash discount, then he would have to negotiate up to 28 percent - this is how high the price advantage with the all-round carefree packages can be.

Packages are often three-way financing or leasing contracts coupled

But these packages are not suitable for every car buyer. They are mostly tied to leasing contracts or similar three-way financing. Customers who prefer the normal installment loan look into the void - and that in two ways. Because the all-round carefree offerscause costs for manufacturers, brands no longer subsidize any financing. The classic loan is particularly affected. This is where the free financial institutions are trying to come into play. They have been exerting pressure on the car banks for some time and are now advertising with competitive offers.

Effective annual interest rate below 5%

With a credit period of 48 months, the effective interest rate can sometimes fall below 5% lie. In contrast, some manufacturers offer customers conditions of six to 8%. With the basic version of the Mazda 6 Sport Kombi, for example, you can save more than 1,500 euros in interest with the cheapest bank with a contract term of four years.

Car buyers do not always benefit from loans from free providers

The loan from the free bank has other advantages: With it in your pocket you can possibly get a bargain at the dealership even if the manufacturer offers a lower interest rate. The customer acts as a cash payer, which many merchants still reward with higher discounts. A house bank offer with 6.9 percent effective interest (48 months) already beats a car bank loan at 1.9 percent. All that is required is a dealer discount of nine percent - and it should be there. But car buyers do not always benefit from free loan providers. At some banks, a comprehensive credit check decides on the conditions. If the bank has something to complain about in terms of the customer's creditworthiness, the loan costs can sometimes rise considerably.

Good interest rates often only with high income

At Hanseatic Bank, for example, the interest rate range extends from 6.90 to 15.90 percent. How the creditworthiness is determined often remains a mystery. It can be decisive for a gradation that the customer lives in an area with many over-indebted people. In any case, the salary is a fixed factor in the calculation, but here, too, some companies place high demands on the customer: At Citibank, for example, the best interest rate can only be achieved from a monthly net income of EUR 3,750. But that's not all: some banks are pushing customers to take out so-called residual debt insurance (RSV). This protection serves to secure the financing.

Independent companies can keep up with the manufacturer offers

The policy, which can easily make up 10% of the loan amount in the automotive sector, is not mandatory. In addition, the financial institutions often charge a processing fee, which is at the top of 3% of the loan amount. With this and with the RSV, the loan costs are driven up despite the low interest rate. Car buyers who prefer leasing can also avoid unnecessary costs. More and more freelance firms are able to keep up with the manufacturer's offers. This is particularly evident in larger companies. Because of yourThey are now putting together cheaper packages with purchasing advantages from the brands.

Comparisons before buying a car are worthwhile

For contracts on a kilometer basis with a term of four years and a down payment of 20%, the right one Leasing company savings of up to a third a month in it. This shows that it is worth making comparisons before buying a car. It's easy to do online. Many leasing companies offer computers for this, but credit information can be obtained free of charge online from independent observers such as Aspect-Online, Check24 or Mano-Dienst.

Duration 36 months
Stingy Dealers in the special interest offer with additional discounts, a house bank offer with 8.9% effective interest rate can beat a car bank offer with 1.9%. Then only a discount of 9.5% is necessary.

Duration 48 months
When the house bank pays off against the car bank also depends on the loan period. In the case of the above example, a discount of 12.3% instead of 9.5% is required for 48 months so that the house bank is cheaper.

Duration 60 months
If the duration falls too long, the house bank offer can quickly become less attractive. Based on the example above, you now need a discount of almost 15% in order to be able to use your house bank better