Should it be a new vehicle because there were youngsters and there is not enough space or simply need a new car after many years; For civil servants, a civil servant loan is extremely lucrative for buying a car. After all, it has to be a new vehicle if the repair costs become too high or an accident in the daily commute has damaged the vehicle.
In any case, the cost of the loan is the lowest for civil servants, because the income is secure and is foreseeable in the foreseeable future. Therefore, the banks and credit institutions also pay particularly low interest for the relevant professional groups, so that a comparison via an official loan for a car purchase is always worthwhile!
Favorable interest and low costs
Experience has shown that a civil servant loan for buying a car has relatively short terms and, at the same time, lower monthly installments, because, on the one hand, the loan amount is not particularly high and, on the other hand, the loan for the car usually only runs alongside. A house or condominium usually contributes much more to the credit burden than the new vehicle.
In any event, long-term collateral for civil servants’ income will keep long loan interest rates low, saving money. The mere possibility to get into debt over a large but foreseeable period enables long-term planning of all loans and is cheaper than other options. The amount of the civil servant loan for any car purchase is limited, simply because savings or the sales proceeds of the old car can ensure correspondingly low rates.
Because the lower the official loan for buying a car, the less interest and monthly installments have to be paid off. So the amount of a loan is decisive for the individual payments. Whether quick payment or a scheduled access, everything imaginable is possible and cheap for civil servants.
Small sum, low installments
With a civil servant loan to buy a car, a slightly larger vehicle than planned is possible because the rates for a civil servant are relatively low and thus enable cheap financing. Because stretching the savings with a loan is pretty smart. Paid off a few years and the debt has already passed; A civil service career lasts a lifetime, not just the next few years.
Due to the predictable amount of income in the next few decades, an official loan for the car purchase is very cheap. Firstly, interest rates are lower, secondly, it is feasible to extend the loan as long as possible, which reduces the individual installments. This is why a vehicle so cheaply received is twice as much fun.