Did you get tired of public transportation and decided that this year yes or yes you will become a car owner? It’s not the only one! There are many Colombians who have contemplated this as one of their goals for 2018.
That is why, if you are ready to make this purchase, being clear about how to choose the best financing is vital
Financing the purchase of your car on credit allows you to access the good without having to have all the money, just have the initial fee or down payment, and finance the rest at a reasonable interest rate and term. Not always the lowest quota and the longest term are the most convenient. Therefore, take these points into account to ensure you make the best possible choice:
1. The interest rate is not the only thing that counts
Although it is what is most looked at, you should also take into account the additional charges such as commissions, insurances that are included – in addition to the vehicle -, disbursement expenses, etc. It is best to compare the total cost of the credit, to find out if that financial entity suits you.
2. Review the options of the bank where you are a customer
If you are already a client of a financial institution, you may be offered some promotions or additional benefits if you decide to apply for credit with them. Find out and see if it suits you.
3. Take advantage of manufacturers promotions
To increase sales, the same brands offer offers ranging from discount bonuses, free fuel, maintenance, etc. Review the models that interest you and what they could offer you.
4. Choose the auto insurance of your choice
Talk to the entity that will finance you to be the one who chooses the insurance, as this will allow you to choose an insurer that gives you more benefits and better coverage. Remember that it is your right to choose the option that suits you, so you cannot impose any particular insurer.
Remember that to compare interest rates and make sure you choose a loan with favorable conditions, the ideal is to compare all market alternatives. For that, you can use the Gellert auto loan comparator.