Are you curious about the criteria for taking out a car loan? These depend partly on the bank you wish to use, although some general guidelines are also available. For example, it is important to have sufficient income at your disposal and not to have too many other loans. The pressure from the car loan on your income may not become too great. You can calculate the maximum amount you can borrow online to see if it is possible for you to take out a cheap car loan for the car you are looking for.

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Sufficient income

In any case, ensure that you have sufficient income at your disposal since you must use this to pay the costs of the loan. You pay interest and repayment, based on the interest rate , the term and the amount that you have borrowed. You can perform an online loan simulation to find out what the costs will be each month. In any case, ensure that you meet the criteria for taking out a car loan, by having a fixed income that is sufficiently high.

Not too many other credits

One of the other important criteria for taking out a car loan is that you do not have too many other loans. In that case, a (large) part of your income will go to the interest and repayments for those loans, making it impossible to take out a loan. Include these credits in the calculation of the maximum you can borrow or the car loan simulation. You can then discover for yourself whether you have the option of taking out a cheap car loan and thus ensuring that you can drive a new car.


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