Student Car Loan – Who Offers?

Students sometimes study in another city or in a remote corner of the country. They can use a car to transport from place to place, especially if they live in small villages with poor traffic connections. How can they finance the purchase of a new or used car?

It lends non-bank companies and banks to students

It lends non-bank companies and banks to students

High-school or university-level students, in particular non-banks, can arrange a car loan, but they can also contact banks to provide them with non-purpose loans for students. Student loans are characterized by the fact that they place milder conditions on the creditworthiness of clients. This implies that students should receive some income from a job or a job.

 

1. Bank loans for students

Many banks offer students long-term loans. They are provided by the largest banks in the Czech Republic, such as Utang All Loan or UAL. Students must show sufficient income or invite a co-applicant who receives a regular income – one parent. Interest on these loans is at the bottom and students pay off small monthly amounts for several years.

• Loan from Utang All Loan

Loan ll Loan

The loan from UAL is non-purpose and ideal for buying a new car. Students can schedule their maturity for 1 year to 10 years. Only university students will receive this loan and with a loan of up to CZK 100 thousand, the money is provided with a third party’s debt obligation.

 

• UAL loan

• UAL loan

UAL not only provides students with a Loan for Anything, which they do not have to prove what they used the money for. So it does not matter whether it pays a car, study or hobbies. They must submit sufficient income – for this reason the loan is suitable for adult students of employment.

 

2. Non-bank loans

Non-bank loans

It is also possible to finance a car from non-bank loans, which are also available to students with little income. It is especially useful for those who do not want to take their parents as co-applicants. But they have to count on the fact that they do not get too high and a shorter maturity loan can disproportionately burden their expenditure side. Long-term non-bank loans are not very suitable for low-income students.

 

What are the benefits of student loans?

What are the benefits of student loans?

Students can arrange a loan for free, make extra payments, and can repay the loan at any time. Interest is more advantageous than consumer loans, but often such loans are purpose-built and can only be used to finance study or study aids. Non-purpose loans have a slightly higher interest rate, but can also be used to buy a car. Two identity documents and a regular income for loans over CZK 30,000 are sufficient to provide loans to students.

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