These are the best providers

Cologne 86 percent of all German households own one own at least one car. But cars often cost a lot of money, especially new cars. And not everyone has sufficient reserves to pay for the new purchase in one fell swoop.

36 percent of Germans finance their private car purchase with an installment loan or leasing. New cars are financed much more frequently with a share of 46 percent. When it comes to cheaper used cars, only 28 percent of consumers are dependent on financing.

Providers of car loans, of which there are now many, like to advertise with favorable conditions. But how good are they actually? Dajana Gillmaier from Frankfurter FMH-Finanzberatung took a close look at car loans that are offered by national or regional banks.

She compared the loan offers based on criteria that are decisive for consumers:

• Effective interest rate
• suspension of installments
• Deposit of the vehicle registration document
• Opportunity to make special repayments free of charge and without restrictions