Different Types Of Car Loans

In the world, most of the purchases of cars, both new and used, are made using forms of financing. The market, even in the presence of a credit squeeze like that of recent years, offers countless opportunities: from personal loans to finalized loans, from the salary (or pension) loan to the revolving credit card.

For this reason, when buying a car in installments, the rule of every conscious purchase is valid: compare.


Loans are divided into “finalized” (or installments) and personal. The former are obtained in the points of sale of the goods you intend to purchase and are closely linked to the purchase you are making. In this case, you do not get a sum of money but you pay the price of the good or service in installments.

The personal loan, on the other hand, is a loan with no usage restrictions, paid in cash directly to the customer, and repayable with a pre-established plan.


The assignment of the fifth of the salary or pension can be obtained by employees, public and private, both permanent and fixed-term, atypical workers and retirees, and is reimbursed through the payment of monthly installments at a fixed rate.


Another form of purchase alternative to that for cash is leasing (also for private individuals), today no longer based on the simple financial aspect of the transaction but linked (“full leasing”) also to the offer of a growing number of services (maintenance, insurance, etc.), which, in practical terms, brings it closer to a long-term rental, which has also been open to private individuals for some time.


The channels through which it is possible to apply for a loan are mainly three: banks, independent financial companies (although often an emanation of banking institutions), and financial companies of the Houses (the so-called “captive”), which usually offer this service through the network of dealers.