The sales strategy of car dealers: buying a car without a deposit u. interest
Meanwhile, some car dealers offer loan agreements where the consumer does not have to pay interest, and sometimes the contracts even contain negative interest.
The field of auto financing is booming, so that in particular the automotive banks can now set new records in terms of new business. This also includes that there are now various automakers who even advertise with a zero-percent financing. There are even the first offers, in which the financing is equipped with negative interest.
Interest rate of zero percent more and more standard
Of course, developments in the field of car loans are due to the general interest rate trend on the capital market, which is mainly determined by the ECB’s key interest rate. Therefore, it is now no longer unusual that the auto banks now estimate zero percent interest. Rather, experts see it more and more often that this interest rate can prevail in the market, so that one can almost speak of a standard.
Such favorable interest rates have been part of the sales strategy of car manufacturers for quite some time. After all, their business is, of course, first and foremost about winning customers and selling vehicles, and not primarily about making money from their financing and interest.
Number of financially-happy customers is increasing
There is still a trend in the field of auto financing that more and more Germans are opting for such financing. Of course, the low interest rates and, in addition, the number of car buyers paying in cash, is slightly declining. It is pleasing, in particular for the automotive banks, that while on the one hand demand has risen in the recent past, on the other hand credit losses have remained at a still low level.
Thus, the automotive banks, ie the internal banks of car manufacturers, set new records last year. This includes that new business increased by about six percent to almost 39 billion euros. With a total volume in the area of leasing and financing contracts.
Possible to exceed the 100 billion euro mark for the first time last year
It is astonishing that financial services now account for a large proportion of the total consolidated profit of car manufacturers, namely between 10 and more than 40 percent, depending on the manufacturer.
This fact is surprising in view of the fact that it is precisely the auto banks that are increasingly providing zero-percent financing, where they earn nothing from the interest rate. Leasing, which is attracting more and more private customers, contributed to the gratifying result.