Since civil servants have a regular and secure income, they are welcome credit customers at most banks and savings banks. For this reason, special offers with particularly favorable conditions are sometimes made for these people. These are characterized by long terms and low interest rates. Provided that Credit Bureau information is available, there is usually nothing to prevent a car loan for civil servants.
Both civil servants and civil servants have the option of either applying for a conventional car loan from a bank or applying for a special official loan. This loan has a term of up to 20 years and is in principle freely available. Therefore, it can also be used to finance a new or used car. The civil servant loan is a combination of a repayment-free loan and life insurance. Life insurance is a capital life insurance.
At the end of the term, it will be used as a repayment replacement. This is also the main reason why a civil servant loan is usually much cheaper than another car loan for civil servants. During the term, only the interest due and the life insurance contributions have to be paid. If the life insurance company generates surpluses, they are paid out directly to the civil servants at the end of the term.
Car loan for officials from the bank or from the car dealer
If officials choose to apply for a conventional car loan, they can contact any bank or savings bank, but also the car dealer itself. A bank loan has the great advantage that you act as a cash payer at the dealer and can often negotiate very substantial discounts.
The car dealers usually offer particularly favorable conditions if you are able to pay a larger sum when you buy the car. Here, too, the principle applies that both civil servants and civil servants are very welcome credit customers. The income of civil servants is often not very high, but it is considerably safer than that of all other groups of people. It is also generally recommended for civil servants to obtain several offers before deciding on a specific car loan for civil servants and to compare the conditions exactly.