Frequent question: Is it easy to get car finance in Spain?

Can I get car finance in Spain?

Financing. If you choose to finance a car rather than buy it outright, you will need to provide the following documentation: Passport, NIE, and proof of address. A bank certificate proving that you have a Spanish bank account – a statement by itself will not be enough.

What do you need to finance a car in Spain?

What documentation do I need to provide?

  1. Your NIE (número de identidad de extranjero) – your foreigner ID number.
  2. Proof of permanency in the form of your house deeds or a rental contract for a minimum of one year.
  3. A proof of residence (certificado de empadronamiento) which is no more than three months old.

Is it easy to buy a car in Spain?

Buying a car in Spain is not complicated if you are a resident and usually your NIE and your residence permit (or empadronamiento) will be enough. When purchasing your vehicle, the seller should provide you the following documentation: … Legal purchase agreement.

THIS IS AMAZING:  Frequent question: What role did Philip of Spain play in regard to the Catholic Church?

Is it hard to get a loan in Spain?

It’s fairly complicated to find loans with greater than 20 year repayment periods, when residents can get it up to 40 years. In order to reduce risk even further, banks will usually concede a fixed type mortgage to non-residents. But that is not something true in all the situations.

Can I buy a car in Spain as a non resident after Brexit?

Foreigners, whether from the European Union or not, may buy a car in Spain, either a second or a new one, and have their car to use in Spain for a total of 6 moths (it is not necessary a 6-month continuous period) in any calendar year.

Are new cars cheaper in Spain than UK?

New cars are more expensive in Spain than in some other EU countries (although cheaper than in the UK) and up to double the cost of cars in the US. This also results in higher used car prices. … Spanish-made cars are generally cheaper than imported cars, due to import taxes and duty.

Can foreigners buy a car in Spain?

Information on how, as a foreigner in Spain, you can buy a new or used car. … A foreigner may buy a Spanish-registered car in Spain provided they have one of the following: an official residency card (Tarjeta de Residencia) or. proof that they are a Spanish home owner (by showing title deeds) or.

Is car insurance in Spain expensive?

Car insurance premiums in Spain averaged at just over €350 per year in 2016, just above the EU average. Premiums have come down from an average of over €450 in 2005. Third-party coverage can be as cheap as €150 but will usually be around €250–300. Fully comprehensive policies are likely to be €400 a year or more.

THIS IS AMAZING:  Quick Answer: Can I take dog food into Spain?

How much is a second hand car in Spain?

This statistic shows the average prices for second-hand cars in Spain from 2011 to 2019. In 2019, the average price for a used car amounted to approximately 15.7 thousand euros. That figure represented an increase of roughly 600 euros euros compared to the previous year.

What is the best car to buy in Spain?

Spain best-selling cars ranking up to June 2021 is led by the Seat Arona, followed by the Citroen C3 and the Seat Ibiza. The previous leader, the Seat Leon, ended up in 7th place, while the Hyundai Tucson enters the leaderboard and reaches 6th place.

How much does it cost to register a car in Spain?

They’ll give you your licence plate number and the final documentation and you’ll have to pay 94 euro. Take all your documents to a specialist and have them make up the number plates for you using your new number. It will cost between 6 and 50 euro. Then put the plates on the car and away you go!

Do cars rust in Spain?

The Spanish tend to buy a car and hold onto it for a long time and in most cases run into the ground. The hot climate does also tend to help because there is less corrosion from the wind and rain so that cars do tend to last longer in Spain and be in better condition if you’re looking to buy a second hand one.

Can a foreigner get a loan in Spain?

Banks will lend less money to non-residents

THIS IS AMAZING:  Which is the city with the highest pollution in Spain?

While residents in Spain can get up to 80% financing when buying a main residence, non-residents can expect the majority of Spanish banks to only allow them to borrow 60% of the sale value of the property.

How much can you borrow in Spain?

In Spain a EU-citizen can normally borrow up to 70%, sometimes 80%, of the purchase price of the property, which is set as security. The term is normally up to 30 years even though there can be limitations due to the age of the loan taker, as the banks want the mortgage to be paid off by the age of 75.

Which UK banks offer Spanish mortgages?

Banco Bilbao Vizcaya Argentaria (BBVA) is one of the few banks offering mortgages to UK borrowers purchasing properties in the UK and Spain.