Having gone through one of the most difficult times for dealers, it seems that with government support, openness to credit and improving the economy, registrations of cars have increased for the first time since 2008.
In this regard, it is important to know the existing financing possibilities. On the one hand, over 60% of new buyers choose their own financial dealers, while the remaining 30% is related to financial institutions personal loans.
Generally, loans at dealerships have lower interest than banks, the bureaucratic process is faster and also have the advantage of discounts usually apply if an antique car is delivered.
However, financing the purchase of a car through the dealership also carries risks because we are experts at vehicles and not loans, so there may not be clear all the conditions that are offered. Usually often they report interest rate TIN, not the APR that includes all expenses. Therefore we must read the contract point by point and where appropriate consult an expert before signing any credit.
On the other hand, personal loans over the years had disadvantageous conditions for buyers, however, at present the range of offers and has greatly improved conditions so we should always consult both options to determine the most appropriate on our terms.
And remember that if you need money in a precise moment, you can always go for the best financial institution and charged a small interest rate and convenience to pay on time
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