Home and car financing?

Hello,

still quite new and already a question ;-)

My wife and I want to acquire a property. Financing that is possible so far. It would be nice if you could also finance another car at the same time. So you only need one construction loan for both the property and the car.

The bank we asked about the construction loan does not do that. Do banks generally not offer this? How can I kill two birds with one stone, so to speak?

Thanks + regards

Nicpoe

Hello Nicpoe,

this raises the question of over what period the financing for the home should be planned. With a repayment rate of 1%, it usually takes about 30 years.

Do you want to pay off your new vehicle for just as long?
Do you have an idea how much interest will accumulate and how expensive such a vehicle will become? Roughly estimated, this comes to about 2.5 times the list price.

This would be anything but sensible, even with a higher repayment rate.

And for the time of construction, a new car is also not very suitable. Just think of a bag of cement in the trunk of the new vehicle.

Best regards
Danton

Yes, that is correct. It should not be a new car either. The financing would run for 15-20 years. It would be nice because with the installment payment, there is no double burden, and you certainly cannot get a car loan alongside a construction loan. I can already see that now. The banks are extremely cautious when it comes to financing a car.