With the car loan of Vicker Bank until 2009 was an offer to finance new and used cars. Following the takeover of Vicker Bank by Astro bank, there is a loan similar to Vicker Bank’s car loan.
From the car loan of Vicker Bank to the Astro bank car loan
Due to the takeover by Astro bank in 2009, it is no longer possible to directly receive a car loan from Vicker Bank. Customers who had a current car loan from Vicker Bank prior to the takeover can continue to do so without any problem and at Astro bank while maintaining all agreed conditions. For customers who have not yet used such a loan or are looking for a car loan from Vicker Bank, Astro bank’s offer will be presented below.
The terms of the Astro bank car loan
Former customers who are interested in a car loan from Vicker Bank will find that Astro bank has a suitable offer with comparatively favorable terms. Advantages of the offer are to be found above all in the interest rate tied up over the entire term, which offers a high calculation certainty. The loan amount that can be claimed can range between € 1,500 and € 75,000. Dependent on this is the otherwise flexibly selectable term, which can be between 12 and 84 months. The amount of the borrowing rate depends on several factors such as loan size and maturity. He moves in a range between 2.00 and 8.62%. However, it should be noted that an interest rate of 2.00% can only be achieved under ideal conditions. In addition, processing fees amounting to 3% of the loan amount are added, which ultimately results in an effective interest rate between 4.99 and 9.99%.
Requirements and application for the car loan
As with Vicker Bank’s car loan, an online application is also possible at Astro bank Autokredit. However, this does not conclude any binding contract. This should also be considered with regard to the immediate commitment, as this is only provisional nature. Such an automatic commitment is more a test of the plausibility of the information provided. For a binding commitment further documents are needed to prove the creditworthiness properly. This includes first of all the account statements of the last 60 days, payroll and a valid identity card or passport.
If all necessary documents are available to the bank, it is usually only a matter of a few days before the loan amount is transferred to the current account of the applicant. Of course, a positive credit decision is required. For these, a credit bureau query is also carried out to obtain information about existing credit obligations. Depending on the level of income, this may, but not necessarily, lead to a rejection of the application should the bank consider that two loans are overburdening.
With carefree package Astro bank also offers a residual debt insurance to ensure the repayment of the loan even in case of death, unemployment or disability of the borrower. Before that, however, it should be considered whether such an insurance is necessary at all, since it represents a considerable burden that can not be neglected. Smaller amounts with shorter maturities generally do not require residual debt insurance, which operates on the principle of term life insurance with declining contributions. On the other hand, a conclusion might seem particularly meaningful if the borrower is also the sole earner of his family and does not want to expose him to any risk. Higher amounts and longer terms justify the conclusion of a residual debt insurance far more likely.