Ideal for : car banks are suitable for commercial people aged 23 or over (e.g. freelancers, farmers and foresters, traders or private individuals with a SF-Class I driving license).
How it works : The mobility package is an all-round carefree package that includes car insurance, letters of credit protection, guarantee and repair insurance as well as other services such as maintenance, wear and tear and tires. So there are no additional costs. You do not have car finance no credit check to pay for workshop costs, but the lender. Mobility packages are usually concluded with short installments with monthly installments. This is why this car financing is not suitable for borrowers who pay off long and cheaply and do not want to commit themselves to a repair shop. The mobility package is usually offered by so-called car banks. The monthly rate is based on the purchase price of the car and the duration.
Ideal for : The three-way car financing is ideal for the undecided.
Here's how it works : With three-way car financing, a down payment must be made in a flexible amount. Thereupon a monthly installment due according to the term, eg 36 months, is due. Around 30-50 percent of the purchase price must be paid at the final installment. The borrower can now choose whether to keep the car or return it. If he decides to return the car, he doesn't have to pay the final installment. If he wants to keep the car, he can pay the final installment immediately or negotiate a new contract with the car bank for the repayment.
Ideal for : The installment loan is ideal for determined car buyers who know that they want to keep the car after the last payment.
How it works : The installment loan is the classic car financing. The installment loan is offered by conventional banks, but also by car banks. Installment loans are available as 100 percent financing or with a down payment. In addition to the actual purchase price, interest payments are made. The interest rate always depends on the car model, loan amount, term and your personal credit and financial situation.
Your creditworthiness describes your solvency or your creditworthiness and is checked every time a car loan is granted! If you have a good credit rating, this means that in the past you have always met your payment obligations in accordance with the contract. This will be rewarded with the fact that it is more likely that you will be accepted for a contract or loan and will be offered lower terms. However, if you do not have a good credit rating, this is usually associated with higher conditions. In extreme cases, you may even be rejected with a bad credit rating for a contract or loan!
With a good credit rating, you increase the chances of a successful contract or loan and can even save money!
At bonify you have the opportunity to check your creditworthiness free of charge and without any obligation. If you discover entries that do not correspond to the truth, you can easily have them corrected directly via bonify.