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04.09.2011, 21:49
| Newbie 1st class | | Join Date: Apr 2011 Location: Lausanne
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| | How to get a loan.
Dear all,
I moved to Lausanne four months ago with my family.Now I plan to buy a car as well for we really need it. I have been to the various dealers and I am planning to buy one soon.
If i buy it on lease, i'll have to pay extra insurance which is like 1800 chf per year.I am thinking about getting a loan somehow, but in Switzerland they have a policy that you must be living in Switzlerand for more than a year to apply for a loan.
What are the other options that i can explore ?
Regards,
Naom-
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04.09.2011, 22:38
|  | Newbie 1st class | | Join Date: Jul 2007 Location: Fislisbach AG
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| | Re: How to get a loan. | Quote: | |  | | | Dear all,
I moved to Lausanne four months ago with my family.Now I plan to buy a car as well for we really need it. I have been to the various dealers and I am planning to buy one soon.
If i buy it on lease, i'll have to pay extra insurance which is like 1800 chf per year.I am thinking about getting a loan somehow, but in Switzerland they have a policy that you must be living in Switzlerand for more than a year to apply for a loan.
What are the other options that i can explore ?
Regards,
Naom- | | | | | Hi Naom
I don`t know aout getting a loan but if you bu a new car it would be good adwise to get the extra insurance. However there you should shop aroud.
I have been living here for 21 years and about every five or so years we buy a new car. My insurance gets bettr every time, but that meens no accidents. We bought a new car last year and we have had two accidents allready. then the extra insurance pays off.
Good luck.
Shortcake
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04.09.2011, 22:39
| Forum Legend | | Join Date: Apr 2008 Location: Zurich
Posts: 3,881
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| | Re: How to get a loan.
Get a cheaper car?
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04.09.2011, 22:45
|  | Forum Legend | | Join Date: Oct 2009 Location: Basel
Posts: 14,989
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| | Re: How to get a loan.
a friend of mine got car financing without a problem and he was less than a year in switzerland. maybe ask around?
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04.09.2011, 22:48
| Newbie 1st class | | Join Date: Apr 2011 Location: Lausanne
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| | Re: How to get a loan.
@ Phil_MCR , Could you please ask your friend ? I am planning to buy a car which worths 12600.
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04.09.2011, 22:51
|  | Forum Legend | | Join Date: Apr 2007 Location: by the lake (either one)
Posts: 2,510
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| | Re: How to get a loan. | Quote: | |  | | | I moved to Lausanne four months ago with my family.Now I plan to buy a car as well for we really need it. I have been to the various dealers and I am planning to buy one soon.
If i buy it on lease, i'll have to pay extra insurance which is like 1800 chf per year.I am thinking about getting a loan somehow, but in Switzerland they have a policy that you must be living in Switzlerand for more than a year to apply for a loan. | | | | | So, you want to avoid leasing the car in order to save on insurance.
Has it ever occured to you that if you take out a loan to buy a car and you crash it that you'll be stuck with no car and will still have a huge loan to pay back?
How about an inexpensive used car you can actually afford?
| This user would like to thank Mark75 for this useful post: | | 
04.09.2011, 23:04
| Newbie 1st class | | Join Date: Apr 2011 Location: Lausanne
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| | Re: How to get a loan.
thanks for your replies.
- If I understand correctly, a comprehensive insurance would be preferable for a relatively new car? In our case 4 years old.
- is 1800 annual a reasonable estimate for comprehensive insurance? Can I expect more? I checked comparis.ch and this was the lowest.
- Please note that the interest rates for a loan are lower than a lease in my case.
- I can almost afford the car and hence require a small loan only.
- I am bit reluctant to take the baggage that comes with an older cheaper car (no guarantee, maintenance costs, etc).
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04.09.2011, 23:11
| | Re: How to get a loan. | Quote: | |  | | | - is 1800 annual a reasonable estimate for comprehensive insurance? Can I expect more? I checked comparis.ch and this was the lowest. | | | | | Obviously depends on too many factors to comment except on a general basis.
Car insurance in Switzerland is twice as expensive as the same cover for me in the UK - motorcycle insurance is 3 times more expensive. Conclusion - vehicle insurance in Switzerland is flipping ridiculously expensive.
After a few years with Zurich we changed to Zurich Connect at half the cost (work that one out).
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04.09.2011, 23:15
|  | Newbie 1st class | | Join Date: Jul 2007 Location: Fislisbach AG
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| | Re: How to get a loan. | Quote: | |  | | | thanks for your replies.
- If I understand correctly, a comprehensive insurance would be preferable for a relatively new car? In our case 4 years old.
- is 1800 annual a reasonable estimate for comprehensive insurance? Can I expect more? I checked comparis.ch and this was the lowest.
- Please note that the interest rates for a loan are lower than a lease in my case.
- I can almost afford the car and hence require a small loan only.
- I am bit reluctant to take the baggage that comes with an older cheaper car (no guarantee, maintenance costs, etc). | | | | | Hi I thought you wantedto buy a new car. Yes shop around but be careful with interest rates. A lease can be cheeper than a loan.
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05.09.2011, 01:20
| Forum Legend | | Join Date: Nov 2009 Location: Vaud
Posts: 2,894
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| | Re: How to get a loan.
1800 is fair I guess on my 04 audi it was 2300chf a year (no lease) and that was simply to much. now I got the cheapest one as the car was free to me and it is still 700+ a year (2001 bmw )
when buying a car you should leave yourself under budget by about 2-3 grand as repairs might be coming soon. Never buy a car when you can just afford the car and not the rest that comes with it....just my two cents
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05.09.2011, 07:01
|  | Junior Member | | Join Date: Apr 2011 Location: Affoltern am Albis
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| | Re: How to get a loan.
GE Money Bank will loan you money after 6 months of employment in CH, not the cheapest but if you really need it worth looking at.
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05.09.2011, 08:01
| | Re: How to get a loan. | Quote: | |  | | | So, you want to avoid leasing the car in order to save on insurance.
Has it ever occured to you that if you take out a loan to buy a car and you crash it that you'll be stuck with no car and will still have a huge loan to pay back?
How about an inexpensive used car you can actually afford? | | | | | I think you missed the point.
If you buy a car for cash or with a bank loan, the insurance premium is significantly lower than with a leasing agreeement, why i really don't know !
The coverage is EXACTLY the same
Check in Comparis, first with a cash purchase, then with a leasing, my car was about Chf 400.-- more with a leasing than cash purchase
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05.09.2011, 08:17
|  | Forum Veteran | | Join Date: Dec 2010 Location: Washington, DC
Posts: 2,198
Groaned at 63 Times in 38 Posts
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| | Re: How to get a loan. | Quote: | |  | | | Dear all,
I moved to Lausanne four months ago with my family.Now I plan to buy a car as well for we really need it. I have been to the various dealers and I am planning to buy one soon.
If i buy it on lease, i'll have to pay extra insurance which is like 1800 chf per year.I am thinking about getting a loan somehow, but in Switzerland they have a policy that you must be living in Switzlerand for more than a year to apply for a loan.
What are the other options that i can explore ?
Regards,
Naom- | | | | | GE Money Bank requires 6 months residency. I financed my car through Fidis and there wasn't a residency requirement (if there were hidden costs due to this, I didn't notice). My insurance wasn't very expensive either... just under 100CHF a month.
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05.09.2011, 08:22
| | Re: How to get a loan.
Buy a car in France or Germany. It will be 30% to 50% cheaper and the financing will be provided by many dealers themselves. My wife did that her first year in Switzerland.
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