Financing: buy a quad or just rent it on vacation?

In the high season you can buy a quad – or just rent it for the holiday. Right now, the car loan is an attractive alternative for quad financing.
Many interested parties will ask themselves again, especially for the upcoming vacation, whether it is worth buying their own vehicle or whether the vehicle should be rented for the vacation. Two years ago we realized that buying a quad is interesting from a financial point of view because vehicle buyers get particularly favorable credit conditions – see our article > For everything with four wheels: the car loan. Does this recommendation also apply to this summer?

Buy or rent a quad? Premium manufacturers offer inexpensive variants

When it comes to the question of whether you should buy a quad or whether renting a quad is the better option, it is of course not just the loan interest that decides – the price of a new quad will be particularly important to most buyers. Interestingly enough, there has been movement on the market recently: a few years ago, the established manufacturers charged well for the quality of their vehicles; cheap no-name products, on the other hand, were of dubious reliability. Above all, a lack of spare parts supply and an incomplete service network caused many drivers to despair.
In the meantime, the premium manufacturers are increasingly offering high-performance vehicles whose prices are in the range of their Far Eastern competitors; With their 570 cc models, which are already available from 8,000 to 9,000 euros, Can-Am and Polaris in particular have really stirred up the market. On the other hand, Taiwanese and Chinese manufacturers of high-capacity twins are increasingly entering a market segment that was once reserved for premium manufacturers. With its Blade 1000, TGB in particular offers an inexpensive alternative to American and Canadian touring ATVs: according to the official price list, the vehicle is available from 9,999 euros, which does not even include dealer discounts.

Discounts when paying in cash

But if you want to buy a quad, you can usually buy the vehicle very cheaply if you pay in cash. Buyers are advised not to leave the financing to the dealer banks. With these, low interest rates may be granted, but the scope for negotiating the purchase price decreases.

Quad financing through car loan?

Today, loans are even easier to obtain than our most recent market overview from two years ago: Providers such as Smava (compares loans from different providers) or VexCash (which even offers short-term loans) make it particularly easy to obtain loans. The comparison portal Netzsieger not only compares the loans from different providers, but also provides additional information about car loans.
For the online banks specializing in car loans, customers who buy a new quad are considered particularly solid because they bring equivalent value with the loan. If there is a default, the bank can sell the quad to pay off the remaining debt.
In addition, online banks are particularly cheap because of the lack of a branch network; after all, they only have to bear lower costs.
Above all, however, monetary policy is also providing relief: the key interest rate, which the European Central Bank (ECB) has reduced to 0.0 percent, is intended to make it even more attractive for banks to lend money cheaply – and they are happy to comply with the request.
Loans with a term of five or sometimes even seven years keep the monthly burden low; Interest rates around three percent are no longer an exception for a car loan.
Especially important if the old quad is sold: The loan should allow for a special repayment.

credit-worthiness

As a rule, someone who has a regular income from work of a sufficient amount is considered to be sufficiently creditworthy. Apart from the quad itself, no other collateral is required. It may also be necessary to replace the old vehicle: Depending on the load, a mileage of 30,000 km is considered a critical limit, at the latest then expensive repairs are imminent – so buying a new one is the better choice. x