Regardless of whether the dream car is from VW or another brand: Most of the time you have to find financing for the dream car before you can call the new convertible, station wagon or off-road vehicle your property.

Pay in cash and get a discount

A lot of money can be saved with the right tricks. The great advantage of car financing: the so-called cash payer discount. When consumers pay for the dream car in cash, they often get a hefty 20 percent discount off the list price from the car dealer. An investigation by the German company in 2013 showed that – depending on the brand and model – even discounts of up to 39 percent can be negotiated.

If you do not have the cash for the purchase, it is worth taking out a loan from an independent bank. The dealer is paid in cash with the loan amount taken out and the loan is subsequently repaid monthly. Interest costs are incurred for taking out the loan. In the current low interest rate phase, however, these are usually less than the savings made by the cash payer discount.

Save interest costs with a special car loan

There are a few points to consider when borrowing a car: Most car dealers also offer financing for their models. However, the cash payer discount does not apply to the buyer. Consumers should not strike immediately with such offers, but should compare different loan offers in advance. This can be done within a few moments via an independent loan comparison on the Internet. After entering the desired loan amount and term, the conditions and interest rates of various financial institutions are clearly listed. The cheapest car loan is found quickly and can be applied for directly via the Internet.

When applying, consumers should make sure to state the correct purpose. Because a so-called special-purpose loan usually offers a lower interest rate than a conventional installment loan with free use: The loan amount granted for a car loan can only be used to buy a new or used car, for repairs and conversions on the car.

In contrast to conventional installment loans, a car loan usually stores the vehicle letter as security with the bank – this also has a positive effect on the interest rate level. Pay cash, compare offers and take out a special car loan: with these tips, there is nothing standing in the way of cheap financing of the new vehicle..

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