The price ratios that are currently estimated for motor vehicles are a reason for many people to resort to a loan financing. Although numerous vehicle manufacturers now offer a complete range, which includes not only the acquisition of a vehicle but also the financing and insurance by the house bank, but also in independent credit houses are quite attractive loans available such as an Automobile club car loan.
The days of the “Yellow Angels” have long been over in which the Automobile club was merely a breakdown service for motorists because the Automobile club has also grown and in recent years has successfully developed into a large service provider for the car. For example, the Automobile club offers interesting loan offers for members, which have been worked out together with Landesbank Berlin, for the financing of new and used vehicles. In order for the offers to be compared by consumers, each bank has to calculate the APR, which includes not only nominal interest but also fees and costs.
Requirements for the Automobile club car loan
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An Automobile club car loan may be requested by any member of the club who has reached the age of 18 years. The applicant must also have a residence in Germany and be in an employment relationship in which the probationary period has already ended. Even retirees have the opportunity to receive an Automobile club car loan.
Term and conditions
The Automobile club calculates the staggered annual percentage rate of interest according to the duration of the service and also offers interesting special offers for a car loan. In addition to attractive interest rates at manageable conditions, the borrower can not only freely choose the loan amount and the term, but also opt for follow-up financing, for example. In general, the duration of the Automobile club car loan is at least 12 months and may not exceed 84 months.
Currently, the Automobile club car loan is available due to an interest rate cut for an annual percentage rate of 5.45% with a term of 12 – 60 months while the minimum loan amount is 2,500 euros. However, the borrower can also take the maximum loan term of 84 months, but then the interest rises to 6.4%.
Since every credit so also the Automobile club car loan the family budget over several years burdened and it can come to unpredictable situations offers itself a remaining debt insurance, which contains some advantageous aspect. For example, the residual debt insurance takes over the outstanding installments in the event of involuntary unemployment, a prolonged illness or even the death of the policyholder. Fees are not charged on the Automobile club car loan for special repayments or for the conclusion of the car loan, which is another favorable criterion of the car loan.