Many people prefer to choose a used car from a reliable manufacturer than to buy a new car from a dubious brand for the same amount. However, the cost of used cars can be steep, so people often take out a loan for a car. financial institutions offer different conditions.
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For example, Idea Bank provides a loan for a used car in the amount of up to UAH 500,000; more details about the conditions can be found here.
Advantages of a loan for a used car
Loans have long been part of human life. A loan has long been no longer considered something humiliating; on the contrary, it helps to obtain the necessary goods and services without immediately losing a large amount. The benefits of a used car loan include:
- reduction in the interest rate on the loan – upon presentation of the registration certificate for the car after 3 and 6 months from the date of signing the contract, the working annual rate is reduced;
- long term – Idea Bank offers loans up to 60 months;
- a minimum package of documents – everything that is necessary to sign the contract and receive money – a passport and identification code;
- quick consideration – you can submit an application online in just a few minutes, it is processed immediately, after which the client receives a notification to the specified mobile number;
- receiving money immediately after confirming the application, you can immediately go to the nearest bank branch to sign papers and hand over the funds.
Algorithm for obtaining a loan for a used car
You need to take the choice and purchase of a car seriously. This applies to both new and used vehicles. Therefore, the first step when applying for a loan is to study the available options and choose the best car. It is worth paying attention to:
- budget;
- condition – mileage, appearance, chassis, engine, etc.
- car history – availability of replaced parts, information about road accidents, previous owners.
Take it for a test drive. Only while driving can you be sure that this is really what you need.
When a car is selected, the process of obtaining funds on credit looks like this:
- Familiarization with the terms of lending on the Idea Bank website.
- Apply online.
- Get a solution within minutes.
- Visit to the branch to sign the contract.
To find out more about loan conditions, contact Idea Bank specialists for a free consultation. A person over 21 years of age can apply for a loan for a used car. The maximum age is 70 years at the end of the contract.
Whether you get a car loan or not depends only on the client. We recommend assessing your financial capabilities, weighing all the benefits and risks associated with buying a used car and making the right choice.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.