Just after the purchase of a floor, the expense of the most important Spanish families is usually the purchase of a car, or at least it used to be traditionally until many have been forced to give up the acquisition of a vehicle due to their high prices.
In this way, what was once considered as something exciting for the family, has now become a bobbin lace due to Financial operations which implies the purchase of a car.
Such is the point we have reached, that commercials have gone from selling vehicles to become financing systems advisors with the objective that you acquire the method that suits you most ‘.
The OCU warning
The dealers have changed their methodology when applying discounts. Formerly, a discount was offered to the buyer in case the vehicle paid on the spot. However, now, These discounts, between 3,000 and 4,000 euros, are associated with financing with which they will later recover the reduction applied through quotas.
The situation of the high price of cars has resulted in other financing methods to have gained a lot of strength, such as those of multi -elice or renting type. These methodologies usually encompass all services in a single quota that includes both insurance and reviews, so the benefit for the brand is maximum.
In addition, these types of operations are usually linked to an initial quota, as an opening, and a final that adds to the monthly payments, monthly payments that usually have very accessible prices.
The Organization of consumers and users (OCU) Manifest The existence of quite high interest in this type of operations That, visually, they are attractive, but that with paper and pen in hand, they are a disaster.
The OCU exemplifies this demonstration with a car that costs 30,000 euros, a price that the manufacturer could reduce to 27,000 euros in case we link it to financing, in which case, Tae interest can be between 13 % and 14 %which means that we will end up paying 34,000 euros for the car once the operation is finished.
It is also true that banking entities usually have their small print but, as reported from the OCU, It is usually cheaper to ask our bank for money, with a TAE that is usually around 6%to face 17% of some financials of the dealers.
Finally, another fact that you must know before signing anything is whether the operation includes domain reserve. What is this? The domain reserve means that the car cannot be sold or anything like that since it is without paying, which means that it must be released before having it, which forces to cancel the loan and other management expenses.
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