A new car appears, the desire of most people of all ages; being able to drive a new vehicle allows you to have your own satisfaction and to fulfill a dream.
What are car loans?
Car loans are a type of financing aimed at buying a new vehicle, the ideal solution for those who want to buy the car or the bike of their dreams.
With a car loan, you can get in touch with your car and start paying the loan installments only after the purchase. It is possible to repay the loan according to its availability, without having to pay the payment of a large sum in a single solution.
As also for motorbike loans, car loans are a very common type of financing offered by dealers when making the purchase.
Having all the right information on how to enjoy the thrill of driving the car that you have always wanted, will help to have greater clarity and awareness on the step that you intend to make, without making disproportionate actions to their economic possibilities so as to have then in the future unpleasant consequences.
Car loans are loans that are destined to buy a new or used car, but also for other vehicles. It is possible, in fact, to apply for a loan to buy a motorbike, a camper or a boat, thus giving space to satisfy one’s own needs or desires.
With car loans you can get such high figures that last up to ten years, so you can have immediately available the amount needed to buy the car or the vehicle that interests you and you can repay the loan with maximum simplicity, decreasing the monthly installments at the most convenient amount based on your needs and economic possibilities.
The auto loan always provides a fixed rate , so you know immediately the amount of the installment, you will always pay the same amount and you will know with certainty the cost of the entire loan, having everything clear from the signing of the loan contract.
Requirements for applying for a car loan
The car loan represents the personal loan that can be requested if you have a work income or demonstrable pension produced in Italy.
The documentation that must be presented is as follows:
- valid identity document;
- valid health card;
- income document.
- quote of new or used car purchase made out to the loan applicant issued on letterhead of a car dealer or dealer.
Depending on the specific characteristics of the applicant for access to particular promotions in progress, other requirements and additional documentation may be required.
Regarding the request for a car loan, it is also possible to underwrite an optional insurance cover for the protection of oneself and the family and to be able to support their projects in peace without taking any risks.
Car loan without paycheck
If you need to buy a car but you do not have a paycheck, or you have a non-certified monthly salary, certainly it will not be easy to grant a credit and the car loan without a paycheck is the solution.
For the granting of a car loan without a paycheck, it is necessary to have additional guarantees that replace the regular monthly wage certified.
The types of guarantees that can be used to request a loan are:
- declaration of income that applies to self-employed workers such as artisans, traders and even entrepreneurs;
- provable income certification with the CUD;
- regular payments into your checking account given by a job;
- a property owned on which the mortgage can be applied;
- monthly entry through a rent;
- current account with a joint account holder who has an open-ended employment contract;
- guarantor .
In particular, the guarantor is an important figure in the field of loans, because with his own signature he assumes the responsibility of carrying out the fulfillment of the loan in the event that the principal debtor is in default.
The guarantor becomes, therefore, the guarantor and stipulates a contract as co-bounded, so as to become, at the signing of the car loan, equally responsible for the timely return of the capital financed. For this reason, this figure must have some requirements :
- permanent contract;
- certified pay slip;
- demonstrable income.