So popular is the car loan
With favorable conditions, Astro bank promotes its car loan. A comparatively low effective interest rate and a quick processing and payment of the loan are also promised. In addition, there is a high degree of flexibility in terms of repayment. The loan can be requested both by phone and directly on the Internet, with the latter option being advertised as being faster and, above all, cheaper.
Favorable conditions: Online completion of the car loan
Astro bank’s car loan is particularly advantageous for all those customers who decide to sign a contract via the Internet on the Astro bank website. The conditions shown there are also completely based on the online application. The offer is advertised above all with favorable interest rates. The underlying debit rate varies, depending on maturity, between 0.11% and 5.21%. The annual percentage rate is between 5.79% and 6.29%. The minimum term is 12 months, the maximum term is 84 months. The effective interest rate includes 3% processing fee.
The advantage of a car loan at Astro bank, compared to the credit of car banks, is that it can be used to negotiate cash discounts. Depending on the amount of these discounts, the cost of borrowing can be partially outweighed, assuming a scrupulous calculation, of course.
Borrowers who attach great importance to flexibility have the option of making special repayments in Astro bank’s car loan. Up to 50% of the loan amount can be redeemed free of charge per year in this way. In addition there is the right of return: The contract can be returned up to 30 days after conclusion of the contract. The customer remains flexible when, for example, he has found a cheaper offer for him.
The car loan at Astro bank: application and requirements
A car loan at Astro bank can be borrowed from 3,000 to 50,000 USD. Prerequisites are a good credit rating and age of the applicant. In addition, as is usual with installment loans, it is also necessary to submit a payroll account, which proves a non-independent employment relationship.
As a further security Astro bank serves the usual in car loans release of the registration certificate Part II (formerly car letter), through which the retention of title is hedged. In addition, a copy of the sales contract is needed as Astro bank’s car loan is a special purpose loan that can only be used to finance motor vehicles.
PB Rate Protection: Remaining debt insurance for more security
Anyone who places a high value on security as a customer can take out a residual debt insurance with the PB rate protection for the Astro bank car loan. Such insurance is intended to prevent defaults due to unforeseen events such as unemployment, disability or death of the applicant. However, such additional protection does not always make sense and should be based on the duration and amount of the loan. Worthwhile is a credit insurance, for example, if you take a loan as a sole earner of a family. This is then financially secured upon the occurrence of one of the above cases, as the insurance company takes over the installment in whole or in part.
Such a residual debt insurance is built up as a term life insurance with decreasing contributions, because over the course of time they constantly adjust to the remaining debt. However, it should be kept in mind that there is already a retention of title on the part of the bank, which is why the conclusion of an insurance for a car loan of Astro bank only in very rare cases really makes sense.