Car loan used: these are the advantages

September 5, 2022

Buying a used car can be quite expensive. Especially now that a used car is more expensive to buy than ever before, you quickly run out of money. Then know that you can also take out a car loan for the purchase of a used car. What are the benefits of a used car loan?

Why used cars are so expensive

Anno 2022, a used car is more expensive than ever. This is because there is simply more demand for it and the supply of occasions has become scarcer. The delivery time is shorter than that of a new car and that appeals to many people, especially now that delivery times of new cars keep increasing due to production problems. Since corona, many people also don’t like to get on public transport anymore and prefer to look out for a used car. So the used car is on the rise while supply is not.

Knowing where you stand

There are several ways to finance the purchase of a used car. An example is a car loan for a used car. Here the loan amount, interest rate, term and monthly repayment amounts are fixed. That way you know exactly where you stand. Sounds a bit like private lease with the big difference being that you become the owner of the used car. This is not the case with private leasing.

Car loan used is saving money

Another advantage of a car loan is that it leaves you with savings. As mentioned, used cars are more expensive than ever. So chances are you’ll have to smash your entire piggy bank to purchase a used car. There goes all your savings, you think, but with a car loan you can have savings left over. After all, you are financing part of the purchase price. How big that portion is, you decide. The smaller that portion, the less you have to repay.

Car loan with fixed, advantageous interest rate

All nice and well you may think, but a car loan is not free*. That’s right. But if the interest rate on the borrowed amount is low, you get a lot of convenience in return. The occasion of your dreams is suddenly within reach! Without losing all your savings in one fell swoop. With Belgian lender Cofidis, you pay a fixed, advantageous interest rate starting at 3.99%*. Upon approval, the loan amount will be deposited into your bank account within 48 hours of final acceptance of your application, regardless of which bank you have an account with. Do you want to repay earlier? That is negotiable at Cofidis. By the way, you have to take the word “car loan used” with a grain of salt, because you can also buy a motorcycle or camper from the borrowed money.

* Please note that borrowing money costs money.