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Old 04.09.2011, 21:49
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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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Old 04.09.2011, 22:38
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Re: How to get a loan.

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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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Old 04.09.2011, 22:39
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Re: How to get a loan.

Get a cheaper car?
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Old 04.09.2011, 22:45
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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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Old 04.09.2011, 22:48
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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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Old 04.09.2011, 22:51
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Re: How to get a loan.

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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?
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Old 04.09.2011, 23:04
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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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Old 04.09.2011, 23:11
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Re: How to get a loan.

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- 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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Old 04.09.2011, 23:15
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Re: How to get a loan.

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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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Old 05.09.2011, 01:20
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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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Old 05.09.2011, 07:01
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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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Old 05.09.2011, 08:01
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Re: How to get a loan.

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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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Old 05.09.2011, 08:17
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Re: How to get a loan.

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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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  #14  
Old 05.09.2011, 08:22
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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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