Introducing the car loan
The car loan from Cadis Bank is offered on the one hand as a typical installment loan and on the other hand as a so-called three-way financing for the transfer of the financed vehicle.
The Cadis Bank car loan is available for all new and used cars offered by a VW dealer. Thus, lending is not limited to models of the VW range, but to any vehicle offered by the dealer. If the customer now wants to take the credit in his previous vehicle is taken in payment and the borrower also has a sufficient credit rating then the financing as a installment loan is generally possible without down payment. Car loan from Cadis Bank is repaid with a fixed interest rate during the entire term of the loan. For this loan, neither the chosen loan model nor the amount of the deposit has any impact on the interest rate.
The framework conditions for car loans at Cadis Bank
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With constant monthly installments and flexible maturities, which can be between 12 and 48 months, the interested party with good creditworthiness receives the loan in an amount of between € 2,500 and € 25,000. However, as not only the bank wants to hedge, but also the customer offers Cadis AG a credit protection letter on very favorable terms, with which the borrower is covered in the event of illness, death or disability. However, if the borrower wants to hedge in case of unemployment, then the credit protection plus is recommended.
The effective annual interest rate of the Cadis Bank car loan amounts to 7.7%, with a processing fee of 3% of the loan amount added to this interest rate.
The special features of the car loan of Cadis Bank
When the loan expires, the borrower has three alternatives. So, on the one hand, he can let the loan extend once again and, on the other hand, replace the loan. However, another possibility is also to return the vehicle to the dealer at a price that was agreed in advance binding. However, in this financing model, the vehicle must then be returned to the dealer in an orderly and contractual condition.