A good drive: the most cost-effective way to purchase a car

Not every day you buy a new car and therefore it is important not only to choose the type of car that best suits our needs, but also the financing deal that will give us the most according to our ability.

An examination of the car financing market found two particularly attractive routes, both of max

in collaboration with max

03/08/2022

Wednesday, 03 August 2022, 11:13

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Buying a car is one of the consumer's biggest expenses (Photo: ShutterStock)

Buying a car is one of the consumer's biggest expenses.

Not every day we spend tens of thousands of shekels in a single transaction and sometimes even more than that.

The unique nature of this transaction requires several adjustments, which are not required for every purchase we make.

Thus, for example, the sources of funding must be decided.

Have we been saving money for a long time to purchase the vehicle or do we prefer to purchase it with the help of financing assistance such as a loan or a payment transaction?

And what is our budget, how much are we willing to invest in the new car?

Do we choose a new car, a used car or a car from a car lot/agency with 0 km?

Even answering these questions, he only opened the door to others, such as: where will we buy the car?

In Israel, used vehicles can be purchased from private individuals, car lots and leasing agencies.

And if we decided to rely on financing - which financier will we choose?

There are many different entities that offer such financing assistance today: the banks, the credit companies, the insurance companies and even the car companies themselves.

Comparing their many different offers can be a bit challenging, since it is necessary to take into account various parameters that are not always clear as to exactly what their advantages and disadvantages are: the size of the loan that the body agrees to give, the number of payments over which it is willing to spread it, the interest charged on the financing, the existence or non-existence of the need In the payment of an advance and the preference between different routes that combine an advance, payments and sometimes also an additional large payment at the end.

In order to make it easier for consumers, the Max credit company decided to offer financing routes for second-hand vehicles that will be the most attractive on the market (Photo: ShutterStock)

A perfect solution for second-hand buyers

In order to make it easier for the consumer crowd that is in this thicket of decisions, the max credit company decided to offer financing routes for second-hand vehicles that will be the most attractive on the market and save the customer the confusion.

When it comes to second hand vehicles or those called "second hand with 0 km" (when they are actually first hand) - max has a long list of collaborations with companies and lots.

Together they offer to all customers (not only those who hold a credit card of max) a loan with minimal interest, with a repayment of up to 99 payments. When it comes to second-hand cars - the percentage of financing is very high: from 92% to 100%. This means that the customer does not need to bring money from home to make the purchase or must bring an amount Very low. Another option offered is to pay in 60 installments and then pay 50% of the vehicle's cost at once. Both routes are free of commissions and fines.

The offer to finance a vehicle with 0 km is even more attractive, because it is a completely new vehicle, which no one has driven yet, and the car lot has ownership of the vehicle, however, as soon as it is sold to the customer, the ownership of the vehicle passes to the customer.

The mere transfer of ownership with the license makes the vehicle "2nd hand", although nothing real has changed in its status, the nylons are still on the seats and the odometer is at 0. This way, the buyer earns a discount on the vehicle without the vehicle he is buying actually being different from an identical vehicle bought directly from the importer.

For such transactions, max offers 100% financing for up to 99 payments. Yes, there is no need to pay even one shekel in advance! This way, equally attractive financing conditions are added to the initially attractive deal. In addition to such a wide spread of payments, the interest rate offered is also low. The same alternative route of 60 payments and payment of 50% of the balance at the end of the payment period, without any commissions and fines.

In all of these cases, the customer can receive the financing transaction without a fee for opening a case (up to transactions worth NIS 100,000) and with immediate approval, given at the place where the vehicle was purchased.

After a quick digital process at the lot, where the details are entered, the application is checked and if it is approved - the approval and financing arrive within a few minutes.

The customer, who enters the lot after traveling by bus or taxi, will be able to leave it with his new car.

For more details on a car loan from max>>

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