Those who want to finance a new car often ask themselves whether it is better to use a car loan with a consistently high rate or a car loan with a residual rate. In order to get a clear and unambiguous answer here, it is advisable to carry out a car loan comparison with Restrate.
Compare car loans
A car loan comparison with Restrate has the advantage that it can be used around the clock and is constantly updated. A credit calculator is often available that requires very little information and provides the customer with a reliable and detailed result within a very short time. Not so long ago there were only a few banks that offered a car loan with a residual rate.
In the vast majority of cases it was the car banks that were affiliated with the car dealerships. In the meantime, more and more branch, direct or internet banks have started to also include a car loan with a residual rate in their range of programs. For this reason, it is usually not easy to find the right loan that is optimally tailored to your own wishes.
Application, approval and repayment
If, after a car loan comparison with a residual rate, the right loan has been found, it can be applied for either online or in a bank branch. An online application is possible around the clock and also has the advantage that the loan decision can be made within a few hours. If the lender is a Cream Bank, it will always obtain Schufa information and only then proceed to the income check. As soon as the loan application is approved, the money is transferred to the customer’s checking account.
The repayment procedures are clearly and unambiguously regulated. Monthly rates are relatively low during the term. However, this should never hide the fact that a high residual rate has to be paid in the end. If you see no way to finance this rate, you should consider carefully whether a car loan with a residual rate is really the right choice. In certain circumstances, this residual rate could also be financed by a new loan.