Having your own car can be very effective, however, many people living in big cities do not have their own vehicle, since they can get everywhere with the help of public transport, but catching the right bus or tram may be problematic or take too much time…
When the weather is terrible, it is raining, snowing, or you are about to late for somewhere, it is essential to have your own car and get everywhere right on time. When you need to go to a job interview or you have to make your monthly shopping, it is effective to get in your vehicle and do your business comfortably.
Nevertheless, when you have your own car, you have to pay attention to a lot of things, such as finding parking lots, not driving over the speed limit or avoiding traffic jams in the rush hours.
In case you plan to buy a car, it does not have to be brand new: now, it is possible to take a loan for a second-hand car in many car shops. On the ownership document, there will not be your name, but that of the merchant or financial institution. In return, the owner is obliged to have the car serviced on a regular basis in exchange for the monthly rent. This charge also reduces the price of the car you use, which you can eventually buy or return for a lower amount at the end of the term.
Taking a loan
You can also have the option to buy your new car by taking a loan, which is actually the car loan. This procedure has strict regulations. The minimum amount of a car loan is three hundred thousand forints, which can be claimed for a car of up to twelve years, but the age of the vehicle cannot exceed fifteen years at the expiry of the loan. Depending on your bank and currency, you may need 20-40% of your own funds if you choose this solution.
Personal loan for car purchase
Personal loan is one of the most popular forms of loans because it is extremely flexible. Nor does it require using your own funds or bank collateral. Banks only require proof of income to evaluate the loan, which can also be used to buy a car from an individual, not from a car shop. In this case, the vehicle is fully owned by you and you only have to pay the installment for a predetermined period.