What is the car loan?
Car loan is a loan with the purpose to buy a car or pay car related expenses. With car loan you can buy a used car, which is not be accepted by banks or leasing companies.
Car Leasing may often be more expensive than obtaining a car loan. A leasing contract usually demands the kasko insurance . Car insurance expenses depend on the vehicle, policy holder, region, etc. and might usually be quite expensive. Each loan is a financial obligation that must be repaid. Consider the loan terms carefully. As a result of loan repayment default your loan debt might increase due to reminder fees and other costs associated with the debt collection process.
In the event of traffic accident, traffic insurance compensates the property and personal damage to an injured party. Kasko insurance, on the other hand, is a voluntary traffic insurance, which provides additional insurance protection. Kasko insurance will reimburse the insured for any damage sustained to the car which is due to the fault of the insured car.
Advantages of MoneyZen Car loan
Reasonable interest rate
MoneyZen loan interest rates are set as a result of the auction, this is the reason why MoneyZen offers better terms than competitors.
You own the car
As an owner of the vehicle you have no restrictions on using the car. For example, you do not need an additional permission for driving abroad or lending your car to a friend. Kasko insurance remains voluntary for you.
No additional costs
You do not need to pay for car valuation or changing the car ownership repeatedly. Kasko insurance remains voluntary for you.
No restrictions on car's age
MoneyZen Car loan is available for buying any car you like regardless of its age.Calculate repayment
Recommendations before applying for a loan
Consider carefully if you really need a loan and in which amount. If you are able to save the necessary amount monthly, you can avoid loan costs.
Investigate and compare the terms of several loan providers. So you can pick the best offer available. Remember to pay attention to the loan interest rate, annual percentage rate (APR) and what is the total repayment amount of the loan.
All your loan repayments should not exceed 33 percent of your total monthly income. This will enable you to continue repayments during a short period of unemployment, sick leave or after an accident.
Make sure that you have considered all additional terms and costs. Remember to examine all the loan terms and conditions written in small letters. Consult an expert if necessary to avoid additional obligations.