Online Car Loans Test Winner 02/2019 – Our test!

The offer of the Bank of Scotland is impressive

Having a car is a long-cherished dream for many people. But as everyone knows, this form of acquisition is usually associated with very high costs, especially if it is a new car. So that the dream car does not remain a dream, numerous banks offer an online car loan. In our online car loan test, we took a close look at the offerings of these providers and presented the car loan test winner.

The car loan test winner: important at a glance

The car loan test winner: important at a glance

  • Annual percentage rate of interest between 2.5 percent pa and 3.9 percent pa
  • Loans up to 50,000 euros possible
  • Flexible terms from 12 months to 84 months
  • No processing fees
  • Anytime special repayments possible

What is a car loan?

What is a car loan?

In very few cases it is possible to raise a new or used car by own financial means. The solution could be an online car loan. Now, the question arises why online? Borrowers who apply for a loan through the Internet can usually rely on a very quick processing of the application. In addition, it can be decided online in just a few minutes whether the loan is even approved and customers know immediately what they are.

A car loan is basically nothing more than an installment loan that is primarily used to buy a vehicle. Whether it is a new car or a used vehicle is irrelevant. The providers of such loans are mostly car dealers or vehicle manufacturers. Meanwhile, many banks also include a car loan to their supply repertoire.

Upon conclusion of such a loan, the car letter must be deposited as collateral with the lender. The purpose of the tick is that the loan provider can resell the car if the customer no longer pays his installments. But if you have sometime redeemed the last installment, you get the car letter handed out and the vehicle is completely owned by the buyer.

We introduce: The test winner Bank of Scotland

Car loan test winner Bank of Scotland is a global commercial bank headquartered in Edinburgh, Scotland. It is a member of the Lloyds Banking Group. The history of the Bank of Scotland began as early as 1695. The company was the first European bank to successfully issue banknotes, which could also be redeemed for coins. In the area of ​​home banking, the Bank of Scotland is an absolute pioneer and enabled their customers to manage their accounts from home even in 1983, even though there was not even internet at that time. You could dial into the bank’s central computer over the phone and follow the account activity on the TV screen. In addition to his attractive car loan, the test winner offers time deposit accounts for small and medium-sized investments at decent conditions.

Bank of Scotland convinces with our car loan test

Bank of Scotland convinces with our car loan test

The offer of the Bank of Scotland is impressive

Our car loan test shows that applying for a car loan from the Bank of Scotland is absolutely straightforward. With the car loan calculator can first calculate the loan amount, the duration and thus the monthly rate in a few moments. Subsequently, an online form will be filled in which personal details and personal finances must be made. After the form has been sent, customers will receive a non-binding offer in a few moments. For a complete authorization, various documents must first be submitted and the creditworthiness of the customer must be checked. When the loan has finally been fully approved, the Bank of Scotland immediately arranges the transfer of the loan, which is credited to the account within a few business days.

A big advantage in our car loan test is the low annual percentage rate. This is between 2.5 percent and 3.9 percent pa Thus, the Bank of Scotland moves in a particularly favorable area. The terms can be flexibly chosen between 24 and 84 months. With our test winner loans up to 50,000 euros are possible and the bank waives any processing fees.

In addition, we were also convinced by the fact that the Bank of Scotland allows its customers special repayments at any time. This means that in between more than the agreed rate and the loan can even be triggered prematurely. The special repayments are absolutely free of charge at the company.

Our conclusion: Online car loan at attractive interest rates

Our conclusion: Online car loan at attractive interest rates

The dream car does not have to be a dream anymore. The Bank of Scotland offers a very attractive car loan offer and allows many customers to buy their dream car. Both the favorable conditions, as well as the fast processing and the swift processing, were able to convince us on the whole line.