It is far from everyone who has the opportunity to buy a new car in cash. This is when we come to your service because we can offer a favorable car loan that is adapted to your needs. Here we have collected 5 valuable tips for financing a new car.

1. MAKE A BUDGET FOR THE TOTAL COST.

When you are going to buy a new car, it is easy to get dizzy from all the figures and costs that come with it. In addition to the monthly cost of the car loan, you should have the repayment period that you have chosen in mind.

You should also make a calculation of the operating costs of the car – everything from inspection to tax, service and repairs so that you get an overall picture of what the total monthly cost will be including loans. Do not forget to include insurance, fuel costs and winter tires, which are also costs that you must include in your budget.

2. DO NOT FORGET THAT YOU CAN DEDUCT INTEREST EXPENSES ON THE TAX!

Do not forget the right to deduct. 30 percent of the interest cost for your car loan up to SEK 100,000 per year is deductible in the tax return. There is money to be saved here.

3. SAVE UP FOR A CASH BET – IF YOU WANT.

It is not a requirement that you go in with a cash deposit when you take out a car loan with MyMoney, however, it can be a good idea as the interest cost and the total cost of the loan will be lower. If you sell your old car before you buy, you can get enough for a good cash investment.

4. PAY OFF AT YOUR OWN PACE!

Some people want to pay off their car loan quickly and choose to pay a higher monthly cost for a shorter period of time. Some are comfortable with a lower monthly cost and prefer to pay off the loan over a longer period of time. With us, both alternatives work equally well! It is important to us that you get to pay off the loan at the rate that you feel comfortable with. You can also redeem the entire amount whenever you want at no extra cost.

5. MAKE SURE YOU MEET THE REQUIREMENTS.

We have some basic requirements that must be met before you can take out a car loan with us. For example, you should have a fixed income, have no payment remarks and be over 18 years old.

If you decide to sell the car before the loan is repaid, and the installments have slipped after the actual value of the car, then you will make a bigger minus deal than planned. But it is difficult to determine how much your car is really worth. Therefore, you should make new calculations every year, which are based on similar car models on the market.

Regardless of which loan you take out, you will have to pay interest on the loan. It is highly unusual for lenders to offer interest-free loans.