Most vehicle purchase transactions involve financing all or part of the vehicle. At Astara Store, we offer a customized financing service, allowing you to enjoy your car in affordable installments, tailored to your financial needs.
This service is requested by many drivers, yet how to finance a car remains a somewhat unknown process for many buyers, so we'll explain it in detail below.
In addition, we'll also delve into the requirements and documentation for financing your next vehicle.
CALCULATE THE FINANCING FEE FOR YOUR CAR
Once you've decided on the vehicle you're interested in (which you can view in our catalog), it's time to choose the financing rate you want to link to your contract.
To make this easier for you, Astara Store offers our calculator, where you can set a term of up to 120 months to finance a car. You can also choose whether you'll make a down payment or finance the car in full.
Our financing is linear, allowing you to finance 100% of your purchase.
However, we recommend that you make a down payment of at least 20% of the car's price, both to facilitate approval of your financing application and to make the installments more affordable or allow you to pay them off in less time.
REQUIREMENTS FOR SUBMITTING A FINANCING APPLICATION
- Before applying for financing, resolve any outstanding debts you may have, as well as whether you're on a bad debt registry like ASNEF (Spanish Association of Creditors), as both conditions will likely invalidate your application.
- Make sure you have a bank account in your name, as this is where all monthly payments will be debited.
- The applicant must be financially solvent. To demonstrate this, you must have a minimum monthly income or a contributory pension.
APPLY FOR FINANCING
You know the car model and what financing you want, all that's left is to submit the formal application!
At Astara Store, we work with the best financial institutions, providing you with efficient and fast service. That's why your request will be handled immediately, and we can find the most competitive interest rates and the financing best suited to your needs within our extensive network of collaborating institutions.
If you agree with the proposal, a financial review is carried out, in which all the data provided is verified and the offer is validated.
REQUIREMENTS FOR THE FINANCIAL STUDY
To conduct a financial study and validate the offer, you must provide the following documentation:
- Bank account details.
- Identification data (DNI/NIE/TAR).
- Bank receipt.
- Working life.
- The last two paychecks if you are employed.
- The last two quarters of VAT (form 303) and personal income tax for the last year (form 100) if you are a self-employed professional.
- Revaluation of the current year's pension if you are a pensioner.
The documentation you need to provide will depend on your current employment status (self-employed, freelancer, etc.)
APPROVE AND SIGN CAR FINANCING
If the financial analysis is approved, you will receive a notification and a link to the platform for digitally signing the contract, unless it must be done in person, in which case you will be contacted to schedule an appointment.
Requirements for signing car financing
If you're paying a down payment on the car, you may need to pay it before signing the contract. In this case, an advisor will contact you.
Signing the contract involves accepting the terms and conditions and following the on-screen instructions. A digital certificate is not required.
What happens if the application is rejected? We'll try to find another entity that will approve the financing, or our agents will contact you to find the best possible alternatives.
PROCEDURES FOR FINANCING A CAR
With the signing of the contract, the administrative procedures are accelerated, so you can have your vehicle as soon as possible.
Among other services we offer at Astara, we can handle registration or even change of ownership if it's a used car.
If you need to make the deposit after signing the contract, you will also be provided with the account number where you need to make the deposit at this final stage.
Finally, once all the paperwork is completed, we'll deliver the vehicle directly to your door. And you won't have to worry about shipping costs (this service is included in the price) or other additional costs.
REQUIREMENTS AFTER THE PROCEDURES TO FINANCE THE CAR
At this stage, you don't need to meet any requirements, except for being at the address for the vehicle delivery.
What we do recommend is that you carefully analyze the car's handling, the experience it offers you behind the wheel, especially during the first few trips you take with it.
If it's not exactly what you expected, please contact us within 15 days (counting from the date of delivery). Astara Store will explain how to proceed.
REQUIREMENTS FOR FINANCING A USED CAR
With this information, you now know what you need to finance a new car. As you can see, at Astara, we help you with all the paperwork and every stage of the process, so you can find the best financing for you.
Now, maybe you're not looking for a new car. In that case, you should know what they require to finance a used car.
Although these types of transactions usually require full payment of the vehicle's sale price, in some cases it's preferable to apply for financing. These are the requirements you'll typically need to meet:
- Legal age: essential for any loan or financing for your used car.
- Valid DNI: or equivalent identification document, always in order.
- Financial solvency: demonstrable based on your employment status or current financial situation.
- Money-back guarantee: Depending on your financial solvency, some type of collateral or guarantee may be required.
- No debt: As with financing a new car, having outstanding debt or being on a bad debt list can negatively affect the approval of your application.
Whether you're looking for a new or used car, at Astara we can help you find financing that's perfectly tailored to your needs and we'll also advise you on any questions you may have about the requirements.