Credit for your first car

Once the driver’s license is in dry cloths, the desire for a car is understandably very great. But at the age of 18, some people still don’t have the money ready. But what do you do if you don’t want to forget the driving skills you just learned?

Different options to get a car

Different options to get a car

Spontaneously, some freshly licensed license holders get the idea of ‚Äč‚Äčtaking out a loan for their first car. Whether this is an advantage may be left open. Especially as a new driver’s license you have to accept one or two dents on the vehicle. If nothing is contributed by dad or mom, young license holders sometimes have no choice. If the search for a used car leads to a dealer, the prospective customer inevitably stumbles across the installment payment offers of the car dealer banks.

Many are quick to grab here. But a comparison can certainly help to save money. Even if the offers of the dealer banks are initially tempting, the offers of the other banks should also be checked. Anyone who finds a loan for their first car at a conventional bank can enjoy paying the car in cash at the dealer. In practice, nothing has changed so far that there is an additional discount from the car dealers. That makes the first car even cheaper.

Used or new cars?

Used or new cars?

It almost goes without saying that a novice driver should not immediately buy a new car. A small used car is enough to start with. They are available for a few hundred dollars. New drivers shouldn’t approach buying a car with great expectations. Before deciding on a high-quality vehicle, the driver should have sufficient driving experience. Repairs are usually not cheap and if you want to get a loan for your first car anyway, you should include this in the loan amount. It would be a shame if the car is left unused after the first small accident because the repairs cannot be paid for.

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