FAQ #3 – Can I finance the purchase of a minibus?

Today we will answer the question: how can I get funding through you?

Financing can be done through leasing companies, banks and other financial institutions in our country.

Lease financing is available to companies that are more than one year old and in business, or even to start-ups. It is very important to know certain details about this procedure:

Down payment is compulsory! Lease financing cannot be granted without down payment!

• A minimum of 15%, in case of purchase of a company car for sale for more than one year;
• Minimum 20%, if you buy a company car more than one year old;
• Minimum 30%, in case of the purchase of a car or a van for a company that is less than one year old or newly established (Start-Up);

Important! If a company is more than a year old but not in continuous activity, it cannot get funding. With no activity, the leasing companies believe that the company will not be able to pay its installments.

The maximum financing period is 5 years (60 months) – it is not possible to finance for a longer period as we are not talking about mortgage loans (there was a situation where a customer asked if he could make installments for 20 years).

Very important! Please note that the vehicle must not be older than 10 years at the end of the contract

Example: If we have a vehicle with a 2017 model year, the maximum financing period can be up to 3 years (36 months).

The leasing company making a small exception to the rules on the financing period at the moment is Porsche Leasing. With them, a car can be financed for up to 6 years (72 months). It should also be borne in mind that the vehicle must not be older than 12 years when the contract is finalized.

Example: If we have a car with a 2017 model year, the maximum financing period can be up to 5 years (60 months).

Funding | Copyright @ pixabay.com

Funding for individuals

Financing for individuals can be made through banks or other financial companies. In order to obtain the amount needed to purchase a vehicle, a person must have been employed in the country for at least 3 months (at least 3 salaries) and have continuity of employment. The file will be analyzed on the basis of the net salary that the person earns each month (the amount that is paid by the employer each month).

Unfortunately or fortunately, not all of the amount you earn is taken into account. If the full amount were taken into account, the person would probably have to stop eating, or stop buying clothes and shoes, or even stop paying maintenance. 😊

So, 40% of the net monthly earned income will be taken into account, with the other 60% of the money representing the “daily basket” (food, clothing, expenses, savings, emergencies, etc.).

The financing of individuals working abroad, persons who have an employment contract, can only be realized with the help of a co-debtor (guarantor) who is employed in Romania or a retired person. The person working abroad must have at least 3 months’ seniority in their current job and the co-borrower (guarantor) must have received income in the last 6 months.

Funding | Copyright @ pixabay.com

TO NOTE!

There is no such thing as asking for funding and not giving back more! All financial institutions charge interest – that’s how they manage to make a profit and lend to other people.

All companies work for profit, that’s how the market works. Anyone who still believes in the idea that they borrow money from someone and give it back after 5 years or less is sadly mistaken and is very likely to be behind the times! Now we see that there are people who lend money, with interest, even to relatives, let alone strangers!!!! 😊

Conclusion

Try looking for the product and type of finance that suits you.

Don’t hesitate to ask when in doubt or if there are any misunderstandings about costs.

Be very careful about the product you want to buy (we have a good portion of customers who contact us and don’t even know what car they are calling us for, they don’t even know the value of the product they are looking for) 😊

A well-informed customer is a won customer!