The demand for second-hand cars, second-hand cars, and vehicles of km 0 has skyrocketed since our economic situation began to decline, as for many assume the purchase of a new vehicle can be an impossible mission. If we want to get a good second-hand car we must be careful and make sure that we have a good purchase and, more importantly, that we have sufficient liquidity for it. In the market, we can find numerous lenders who offer us credit to finance a second-hand car. It is easy to find the right title loan.
Requirements to finance a used car
These car loans can be requested either if we are customers of those entities or not, and without having to contract linked products, except if we want to opt for the loan. In this case, we will have to contract a single premium life insurance and direct a payroll in our Smart Account, although all customers who do not want to link can also contract the loan at an interest rate of 9.45% TIN. In addition, in order to lend us the money we must meet the following conditions:
- Be of legal age and reside in Spain.
- Have a sufficient source of income to return the credit.
- Have a good credit history.
- Have a good socio-economic situation.
3 keys to buying second-hand cars
If we have already obtained our credit to finance our second-hand car, we have to take the last decision and decide exactly which one we want to buy. Whether we already had in mind what model we wanted to acquire before applying for our loan, or if we still doubt which one best suits our tastes and especially our pocketbook, we review the basic tips that we must follow before opting for a specific second car. hand:
- Check carefully the age and mileage: normally a car is in good condition if it has not exceeded 25,000 km of use and is not more than five years old. We have to take special care that the odometer is not tampered with. As a novelty, the Administration has obliged that the kilometers covered in the circulation permit appear at the time of processing the change of ownership.
- Origin of the automobile: the risks will always be lower if we acquire the car in a company specialized in this type of sales since they will have all the guarantees. Whether we make the transaction with these companies or if it is through individuals, it is vital to review the revision history and find out “the past life” of the car , that is, if it was parked in a garage, if it suffered some type of accident or what use its former owner gave it.
- Review the documentation: we must check that the road tax is paid, that there are no pending fines or, that it may happen, that the car is not seized. As a resource, we can request the DGT the traffic report of our vehicle, as well as it is advisable to calmly review the technical file and the ITV reports (also to control the number of kilometers carried out).