Cars in installments in Germany

Many people believe that it is unprofitable to take a loan for a used car. They argue that they are in a poor technical condition and that the total amount together with the interest paid for them will be higher than the price of the car from the salon. This statement is true, but it applies only when the car loan is executed at a bank that does offer quite strict lending conditions. If you want to buy a car in installments on favorable terms, contact Car Invest Europe.

To buy a used vehicle in good condition, you only need to make a down payment of 25% of its value, and then pay according to the schedule provided in the contract. You can find a used car on credit in any market in the EU and the USA on your own or choose it from our catalog. If there is no suitable model on our car dealership, we can find a suitable one and bring it to Germany.

Used cars in instalments or on credit: is there a difference?

It is quite difficult to live without a personal vehicle in Germany, but for Ukrainians who have just arrived in the country, it is problematic to find the money to buy a new model. They most often consider the option of buying a used car on credit. But, as a rule, in the banking institution non-residents of the country are given car loans with great reluctance and at a crazy interest rate. It is best not to contact a bank but rather a car center that specializes in the sale of used vehicles. Let’s take a closer look at whether there is any difference in buying for payment and in taking a car on credit in Germany:

• a car loan is only available to people who have an unblemished credit history and have gathered a complete set of documents. Often banks require a document of income, which the borrower has received for at least six months. Registration of the purchase for payment requires a minimum package of documents, and credit history does not matter, because until all payments are made the financial institution remains the de facto owner of the car;
• a used car loan in Germany is given in the form of money at a very high interest rate, because it is the money, not the vehicle, that is the subject of the contract. You need to take the amount received, find and buy the car yourself, and then register it yourself. If you buy a car for payment, you get the vehicle for use immediately after signing the contract and pay by installments according to the schedule. The interest rate in this case is lower, since the subject of the contract is a borrowed used car in installments;
• banks are more likely to lend to the purchase of new cars, and such vehicles, even if approved, are quite expensive. Banking institutions rarely approve applications for used vehicles and establish strict rules for repayment of the amount taken. Much more advantageous to buy a used car in installments, making initially 25% of its value, and then pay smaller parts according to the schedule convenient to the customer.

Having studied all the differences between the services, it is safe to say that the used vehicle is better to buy for payment, rather than arrange a car loan from the bank.

How to buy a used car in instalments without a bank?

If you are not approved for a used car loan in Germany, don’t worry, because it is much more profitable to take a used car through Car Invest Europe. We have our own car dealership in Mannheim with many reliable cars no older than 5 years on average. All of them are in excellent technical condition and have a complete package of documents. There are several reasons to buy a used car in installments with us:

• you get it at your disposal immediately after signing the contract;
• you save time, because all technical and legal issues are handled exclusively by our specialists;
• all you have to do to sign the contract is make a down payment of at least 25% of the purchase price;
• our terms and conditions are much more favorable than a car loan in Germany. We offer not only good terms for crediting, but also affordable prices for all makes and models;
• we draw up an agreement promptly, as there is no need to collect a large package of documents and conduct serious checks on the borrower;
• we offer a flexible repayment schedule, which can be adjusted in accordance with the financial situation of the borrower.

If you are interested in buying a car in installments, call our office, the phone numbers of which are listed on the website. If you already know which model you want, our specialists will be able to make a preliminary calculation of the purchase price. In addition to a wide range, loyal conditions and affordable prices for used cars on credit, we also offer the possibility of buying a car on leasing and trade-in system.