Used Car: The best loan for a VW Golf?
Our flat country is still a leader in the world when it comes to buying used cars. In 2016, more than 55% of all registered cars were second-hand. Volkswagen is doing exceptionally well among the most wanted second-hand cars. The Golf and Polo models can both be found in the top 3 of favorite used cars. Since 2003, the VW Golf has captured the hearts of drivers at lightning speed. The result is more than 33 million copies sold. Of course, these cars regularly change hands.
According to a study by Traxio , formerly known as Federauto, the VW Gold is the best example of the average car. To be even more specific, it looks like this: a gray model of about 8 years and four months old with a diesel engine. If you also want a similar car, look no further. TopCompare.be explains which documents are needed when purchasing a second-hand car and how you can finance the car.
Find your car
If you are looking for a used car, you can ask yourself a number of questions. What exactly is the car used for? What is your budget? How much do you care about appearance? Which functions are essential? The answers to these questions make your search much easier.
Then there are several places where you can go to buy the car. With a private individual, a dealer, or a recognized network (for second-hand Volkswagens there is My Way ). If you buy the car from a private individual you have no guarantee, but the prices are the most attractive. If you buy a second-hand car from a dealer you have at least one year warranty, but the price is slightly higher. The seller must of course make a profit on resale.
With the third option you enjoy the My Way quality guarantee. To meet this label, the cars must meet certain criteria. With the Car-Pass the history of the car is strictly checked, so that you are sure that the age and mileage are accurate. A full check-up is also required, so that cars with hidden defects are not resold. In addition, you enjoy a 1-year warranty, possibly extendable to 3 years.
Simulation of a Volkswagen Golf
As mentioned earlier, the gray VW Golf Diesel of 8 years and 4 months is the most common model among used cars.
See below a price simulation to get a better idea of the necessary budget:
Finance a used car
It is not always easy to just € 10,000 from your portfolio. If you buy a second-hand car from a company, you naturally still have to take into account the VAT of 21%. To purchase the car, you can request a car loan. In Belgium you will usually take out a loan with a term of three years. This way you can purchase the car without having to use up the money in your piggy bank in one go. You can easily calculate your loan online at TopCompare.be.
Read our article : Classic car loan or loan from the car dealer?
If you buy a car from a private individual, never pay in cash. Transfer the money so that you have proof of your payment.
Let’s do a simulation of a 100% loan for € 10,000 with a term of 36 months. The 5 financial institutions that offer the best interest rates are: CBC , VDK Spaarbank , HelloBank! , KBC and ING .
|CBC||VDK Savings Bank||HelloBank!||KBC||ING|
|Monthly payment||€ 293||€ 293||€ 293||€ 294||€ 294|
|Annual cost percentage (APR)||3.45%||3.55%||3.60%||3.68%||3.90%|
|Total repayment||€ 10,532||€ 10,548||€ 10,555||€ 10,568||€ 10,602|
Compare all car loans
Have the right documentation
When you buy a second-hand car, you have to pay attention to several things and be sure that you receive the right documents.
- The purchase invoice is issued to the customer when he purchases a new car from a concessionaire. The invoice contains all information regarding the model.
- The sales invoice is the new invoice that you receive from a professional seller. This contains the name, address and VAT number of the seller and the personal details of the previous owners. The purchase price, payment terms, characteristics (brand, model, chassis number, year of manufacture, mileage and delivery date), the warranty period and the selling price of the car are also included.
- The gray card (the registration certificate) is a certificate from the DIV. Registration cannot be completed without this document. The gray card must be accompanied by the latest test certificate from the technical inspection. This check is performed a maximum of two months before the sale.
- The test certificate is for vehicles older than 4 years. This is compulsory from the age of five.
- The European certificate of conformity confirms that the vehicle complies with the description of the registration certificate. The certificate is issued by the car manufacturer.
- The Car-Pass is a mandatory guarantee of the number of kilometers traveled. The certificate is printed on special paper to prevent fraud, but you can also check the authenticity on the Car-Pass website.
And now, thanks to this supporting information, you can finally buy a second-hand car and enjoy your new car. Be especially careful and enjoy the ride!