If you want to buy a car with financing, it is worth knowing how to determine the value of your car. The purchase price of the car is not necessarily the purchase price, as the financiers consider an adjusted car value.
In the case of new cars, this is the official list price reduced by discounts, and in the case of used cars, this market price is determined by the international car valuation software Eurotax. Eurotax is a so-called European standard software used to determine the market value of a used car.
How to illustrate car loan?
The best way to illustrate this is perhaps to illustrate how self-power can be defined. We can borrow 75% of the value of the car on a forint loan. So the remaining 25% is what we need to have, that is, self-sufficiency.
As a result, if we want to buy a two million used car, we will need five hundred thousand forints in our own resources, and we will get the remaining one and a half million forints in the form of loans.
For example, if a used car has a Eurotax value of between one million and eight hundred thousand forints, regardless of whether it is worth it or available for sale anywhere, we can claim up to 75% of that amount and get it from the bank. Positive judgment is based on creditworthiness and the condition of the car.
If both are okay, then we can get one million to three hundred and fifty thousand forints on the loan, and six hundred and fifty thousand forints will be needed to make the payment.
What is important about buying a car?
It is important that if you want to buy a car, you should always ask for a quote in writing. Record the cash price of the car.
This is so that if we may not be able to arrange a loan for some reason, we should not be able to offer us the same vehicle at a later date, claiming that the credit transaction has not taken place and the credit broker commissions.
Let’s always be careful.