treat yourself to your dream car now thanks to a car loan
Do you need a new car because the old one is broken?? Have you grown your family and now need a larger vehicle?? Or would you like to finally fulfill your dream of a sleek sports car?? With the 1822direkt car loan, you’ll be in your new car in no time at all – whether you’re going for a spin alone or taking the kids on a family outing.
You are already a customer? Then simply apply for your car loan via online banking.
net loan amount (desired loan amount) of 2.500 € up to 50.000, depending on creditworthiness and term effective annual interest rate: from 1.99 % to 7.31 %, fixed target interest rate p.A.: 1,97 % to 7,08 %, terms from 12 to 120 months. the lender is frankfurter sparkasse, neue mainzer strabe 47-53, 60311 frankfurt am main, Germany.
representative example according to § 6a pangv:
with a net loan amount of 15.000 € and a term of 84 months, 2/3 of all customers receive an effective annual interest rate of 2.99 % (83 monthly installments of 197.70 € each, 1 final installment of 195.65 € each, fixed target interest rate: 2.95 % p.A., total amount: 16.604,75 €).
desired loan amount:
eff. Annual interest rate:
bound target interest rate:
Net loan amount (desired loan amount) of 2.500 € up to 50.000 €, creditworthiness and term-dependent effective annual interest rate: from 1.99 % to 7.31 %, tied target interest rate p.A.: 1.97 % to 7.08 %, terms from 12 to 120 months. the lender is frankfurter sparkasse, neue mainzer strabe 47-53, 60311 frankfurt am main.
representative example according to § 6a pangv
with a net loan amount of 15.000 € and a term of 84 months, 2/3 of all customers receive an effective annual interest rate of 2.99 % (83 monthly installments of 197.70 € each, 1 final installment of 195.65 € each, tied target interest rate: 2.95 % p.A., total amount: 16.604,75 €).
What is a car loan?
this credit is a form of car financing. This is an ordinary installment loan, but you use it to buy a car.so you buy your car with the money you borrowed from the bank as an installment loan. You pay back the borrowed money and the interest in a pre-agreed period of time – in monthly installments. And in the meantime, you are already enjoying the benefits of your new car.
car loan or online installment loan – which is actually which?
basically, it’s quite simple: at 1822direkt, you have the option of taking out an installment loan of up to 50.000 € to apply. What you use the loan for is up to you. If you use it to finance your new car, we speak of a car loan
Conditions for your car loan
- you are of age, have a good credit rating and use the loan privately and not commercially. the car loan is exclusively for financing a car.
- You act on your own account.
- You have a regular monthly income from employment – as a salaried employee, worker, civil servant or pensioner/pensioner.
- you have your main residence and workplace in germany and a german salary checking account.
- If you apply for the car loan with a second borrower, it must be your spouse or your life partner – you live with them at the same address.
3 steps to your car loan
your car loan could look like this
representative example in accordance with section 6a of the price information ordinance (pangv):
Net loan amount: 15.000 €, term: 84 months.
In this case, two-thirds of all 1822direkt customers receive an effective annual interest rate of 2.99.
That means you pay 83 monthly installments of € 197.70 each and 1 final installment of € 195.65 each.
Fixed interest rate: 2.95 % per year, total amount: 16.604,75 €.
1. Ask for your non-binding offer and fill in the online questionnaire.
2. Send the contract documents together with the required documents to 1822direkt.
You will need the following documents for the credit application:
- As an employee: copy of the last salary statement (wage, salary, pension) and copies of the account statements of your salary account for the last 4 weeks
- As a civil servant: copy of the complete last salary statement
- As a pensioner/retired: copy of the complete last pension statement
if you sign the contract online in the course of the video-legitimation, you do not have to send it by mail to 1822direkt. In this case, webid transmits the contract digitally to 1822direkt.
3. After successful verification of your documents, we will transfer the money to your current account.
Why take out a car loan with 1822direkt??
You want to be mobile at any time with your own car? Even if your financial means are currently insufficient, you do not have to do without them. Simply apply for an online car loan from your 1822direkt bank! All you need to offer in terms of collateral is a regular monthly income and a good credit rating. Then you can reach your goal quickly and easily
Convenient online financing
You can conclude the loan agreement from the comfort of your own home. Submit the necessary documents and your electronic signature online. The identity check is also easily carried out online. After just a few minutes, you will receive a preliminary online approval with the loan agreement.
car loan in your hands – right from the start
Many banks retain the vehicle registration document of the new car as collateral when granting a car loan. With a car loan from 1822direkt, on the other hand, you own the car right from the start and keep the vehicle registration document in your hands.
Attractive interest rates
1822direkt offers you an installment loan starting at 1.99% effective annual interest rate. This interest rate is achievable under the most favorable conditions. But even with our two-thirds interest rate – the interest rate paid by at least two-thirds of our borrowers – we offer you very good conditions compared to other banks.
Flexible amounts from 2.500 € up to 50.000 €
Depending on the purpose of the loan and your credit rating, we offer you a wide range of options so that you can soon be at the wheel of the car of your dreams.
Free account management
Save at all levels: with a car loan from 1822direkt, you pay neither processing fees for concluding your loan agreement nor fees for account management.
Flexible terms from 12 to 120 months
You yourself determine the term of your loan agreement within a broad framework. By selecting the term, you can adjust the amount of your monthly installments to your household budget.
Unscheduled repayments and early repayment possible
If you unexpectedly have money available from another source during the term of the loan, you can make unscheduled repayments at any time. This allows you to reduce the term of your loan and get out of debt more quickly.
If it is financially possible for you, you can even repay the car loan in full before the end of the scheduled term.
In some situations, a new car has to be purchased quickly. For example, if your previous car has serious damage and the repair is no longer worthwhile. Here you can benefit from the fast online processing of your loan application at 1822direkt.
You can get an overview from the comfort of your own home and save valuable time in the process. Use our loan calculator. You simply fill out the loan application online, and after just a few minutes you will receive a preliminary online approval with the loan agreement. If you sign the contract digitally, 1822direkt can disburse the money to you within 24 hours.
How to get the most out of your car financing
With the online installment loan for your car in your pocket, you can get in touch with a dealer. With your loan, you act as a cash payer for the car, sometimes a down payment is sufficient. Then you can often negotiate a discount that will save you cash and perhaps allow you to treat yourself to one or two extra items of special equipment. It is worth asking in any case!
Financing with 1822direkt or at the dealership? What is worthwhile for you?
Many car dealers offer favorable car financing with top interest rates. Nevertheless, it’s worth comparing: what’s cheaper for you in the end?? With financing from your dealer or as a cash payer with car financing from your bank?
With the online car loan from 1822direkt you act as a cash payer to the dealer. This usually gives you more room for negotiation than if you take advantage of the dealer’s financing offer. Often you can negotiate a discount and save a considerable part of the purchase price. This way, you may be able to treat yourself to one or two extra items of special equipment. It is worth asking in any case!
Financing used cars – what options are there??
You want to buy a used car and are not sure which type of financing is the right one for you? Here is an overview:
With the 1822direkt car loan you pay constant monthly installments during the entire term of the contract. There is no final payment at the end of the term that you have to plan for. So you always know where you stand. You can plan your monthly loan payments, and – unlike leasing, for example – the car is yours from the start. This type of car financing is suitable for car buyers who want planning security and want to use their financed car beyond the financing period.
At leasing the car dealer lets you use the car for a certain period of time. you will pay a regular leasing rate to the dealer. the dealer remains the owner of the vehicle throughout the entire term of the loan. At the end of the term, you return the vehicle to the dealer and can rent a new vehicle. Leasing is chosen, for example, by car users who prefer flexibility and would like to drive a new car and a current model again and again.
With the balloon financing pay small monthly installments to the dealer or the bank during the term of the lease. At the end of the term, they pay off the remaining debt with a large final installment. This approach makes it easier to pay in installments during most of the term than with a standard kfz loan. However, the final installment must be paid at the end. if this is not possible for you, you will have to take out follow-up financing. This can drive up the costs. This is why balloon financing is worthwhile for car buyers who know from the outset that they will be able to pay the final installment out of their own funds.
The three-way financing works in a similar way to balloon financing, but there are other variations: you make a down payment at the start of the contract. the higher the installment, the lower the further costs for your loan. As with balloon financing, you then pay small monthly installments to the dealer or bank. You pay off the remaining debt with a large final installment. As an alternative to the final installment, you can return the car to the dealer or pay off the final installment in several smaller installments. Three-way financing offers a high degree of flexibility, but is correspondingly expensive. It is most suitable for car buyers who are still undecided about whether they want to buy the car or only use it for a certain period of time.
Questions and answers about the online car loan
What is the interest rate for a car loan??
1822direkt offers you a car loan with an effective interest rate of 1.99 %. However, this interest rate can only be achieved under the most favorable conditions. The interest rate is calculated individually and depends, among other things, on the customer’s creditworthiness and the term of the loan. Please take a look at the representative example under "calculate car loan. Here you can find out at what interest rate at least two thirds of our customers receive a car loan.
What is more favorable, a car loan or a bank loan??
You can apply for a car loan either from your car dealer or from 1822direkt. We recommend that you carefully compare the offers with each other. Even if the car dealer offers car financing with particularly favorable interest rates, you may end up better off with a car loan from your bank. you act as a cash payer to the car dealer and can, for example, negotiate a larger discount for yourself.
Is a car loan a consumer loan??
A car loan is basically the same type of loan as a consumer loan. only that you use the car loan exclusively for the purchase of the car. You buy your car with the money you borrowed from the bank as part of the consumer loan.
What else is the car loan called?
How does it work with the car loan??
If you would like to take out a car loan with 1822direkt, first request your no-obligation quote and complete the online questionnaire. Send the application documents together with the required documents to 1822direkt. These required documents are:
- As an employee: Copies of your last two complete pay stubs, bank statements, or a sales summary for the last 8 weeks showing wages/salary received
- As a civil servant: copies of the complete last salary statement
- As a pensioner/retiree: Copies of the complete last pension statement
You have two options for sending in the loan application:
- Either you sign it by hand and send it together with the other documents by mail to 1822direkt
- Or sign it online. In this case, webid transmits the application digitally to 1822direkt.
1822direkt checks your documents and immediately sends you the preliminary online approval with the loan agreement. When you sign the contract digitally, we can transfer the money to your checking account within 24 hours.
What is the best way to finance a used car??
There are several options for financing a used car:
the car loan from 1822direkt:
here you pay constant monthly installments during the whole contract period. This type of car financing gives you a high degree of planning security.
you pay small monthly installments during the term of the contract and a larger final installment at the end of the term. This can be worthwhile for you if you know that you will have a sufficient sum available at the end of the term, or if you can take advantage of particularly favorable follow-up financing.
The three-way financing:
here you pay a down payment at the beginning of the contract. the additional costs for your car loan are based on the amount of the down payment made. During the term of the contract, you pay low monthly installments – just like with balloon financing. You also pay a high final installment at the end of the term. As an alternative to the final installment, you can return the car to the dealer or pay off the final installment in several smaller installments.
Which documents do I need for the car loan??
You will need the following documents for the loan application:
- As an employee: copies of your complete last two pay stubs, bank statements, or a sales summary for the last 8 weeks showing wages/salary received
- As a civil servant: copies of the complete last salary statement
- As a pensioner/retiree: copies of the complete last pension statement
What does the bank check when financing a car??
As with any financing, the bank also checks your creditworthiness (ability to pay) for car financing. To determine this, 1822direkt compares your income with your expenses. For this purpose, you will need documents showing your income (e.g. B. Copies of payslips and pension statements). a schufa report is also essential for obtaining a car loan from 1822direkt. Can you pay off the car loan with your current income?? And will you still have enough money left over for your living expenses?? These are questions that must be clarified in any case and that are also of interest to your bank. Finally, the conditions of your car loan are based on your credit rating.
When is it worth financing a car?
many car dealers offer car financing at favorable conditions. But it is precisely this variety that can be confusing for laypersons. Compare the advantages and disadvantages of the individual offers carefully with each other.
For car buyers who have enough cash on hand, cash payment is the most favorable option. Because the alternative would be to invest the available money on the capital market and finance the purchase of the car. However, the returns on the capital market are currently so low that in most cases this is not worthwhile. So if you have the choice between cash payment and car loan, calculate in detail if financing is really worth it for you.
Other questions you should consider are:
- Do I want to buy a car to keep for a longer period of time?? Or would I prefer to drive a current model for a shorter period of time??
- Do I want to buy the car at all? Or am I likely to need it for a certain period of time and then eventually return it?
Depending on how you answer these questions, leasing or financing models may be more suitable for you – even if you have enough money for a purchase.
What is the best term for a car loan??
Even if the loan rates are low with a long term, you should carefully consider which term is worthwhile for you. If possible, do not use the maximum duration for your car loan, but calculate what repayment rate you can afford each month. Remember: the shorter the term, the faster you will be out of debt.