Ibancar is an excellent option to obtain financing using your car as collateral. And not a small amount, precisely. The truth is that it allows you to get a large amount of money with which to deal with unforeseen events or even start projects. Let's see it!
What is Ibancar? It is legit?
Ibancar is another company that is dedicated to offering loans taking your car as collateral . It is not the only company of this type that we have analyzed on this website (you can see other options at the end of the article), but it is one of the ones that we liked the most and that we found the most reliable.
Furthermore, Ibancar is a company with long experience in the sector, since it began operating in nothing more and nothing less than in 2010 and, since then, it has met the liquidity needs of more than 30,000 clients. It's not bad at all.
Another highlight of Ibancar is that they have worked hard on their computer system to facilitate work and streamline all procedures, which is always appreciated (because money needs are often pressing).
So, for all these points, we could already say that Ibancar is a very good option to get money when you need it . But if we only said this we would be forgetting two additional reasons to trust this company, which are the following:
On the one hand, Ibancar has very good opinions from users (something that you can check later in the article, since we have a section dedicated entirely to it). This, by itself, gives us a lot of confidence.
On the other hand, it should be noted that Ibancar is perfectly regulated and supervised by the competent authorities and the different official bodies, so you have nothing to fear on that side.
So, for all the above, we can confirm that Ibancar is totally legit. It is neither a scam nor a fraud, and you can use their services to solve your cash flow problems with the greatest of comforts.
Am I interested in Ibancar or another company?
The Ibancar credit is somewhat lower than the one you can obtain in other loan companies with the car as collateral. In this case, we are talking about an amount of up to € 6000.
However, Ibancar has a spectacular advantage over other similar companies, and that is that, instead of 50% of the appraised value that is usually offered in the sector, Ibancar offers you up to 70%.
So, we find the following: They offer us an amount of money that is higher than what other entities usually offer in relation to the appraised value, but the maximum amount is much lower (€ 6,000 compared to € 15,000 offered by other companies).
What does this mean?
Simply, that Ibancar is aimed at a public with fewer resources than other companies in the sector. For the simple reason that, if you go with a high-end car to Ibancar, it may be priced at € 20,000, 70% being € 14,000, but you can only get to 6000.
In other companies, they may only offer you 50%, but you will be receiving € 10,000 compared to the 6000 that they offer you in Ibancar. Therefore, if your car is high-end, Ibancar does not interest you.
On the other hand, the opposite happens in the case that your car is low-end. Suppose the appraised value of your vehicle is € 8,000. In the other companies they will give you a maximum of € 4,000. On the other hand, in Ibancar, since they give you 70%, you can receive € 5,600.
In other words, you get a good amount of extra credit when your car is low-end. So stick with this: If your car is expensive, choose another option. If your car is cheap, the best option is Ibancar.
Ibancar credit characteristics
As we say, Ibancar will offer us 70% of the appraised value of our vehicle up to a maximum of € 6000. And, as for the forms of payment, you can return the money within a period of between 12 and 36 months.
This point is also important to understand that Ibancar is oriented to a market segment with less purchasing power than other companies in the sector. The other companies have shorter repayment terms and for larger amounts of money, so it is assumed that their customers have greater purchasing power.
The APR, in any case, will be 18%, being able to pay in the most comfortable way in, as we have already said, one, two or three years. In other words, you will not have any problem to meet the costs of your loan.
And, of course, you can decide in what terms you return the money.
All of the above already shows that the conditions are very favorable for the customer, but there is another point that makes it a very interesting option and much superior to the alternatives on the market: The ownership of the vehicle is not changed.
Normally, companies of this type require a change of ownership of the vehicle, which involves administrative costs. In addition, they charge you to use the vehicle once the owner has been changed.
In the case of Ibancar, you can continue using the car without losing ownership and without paying for it, something rare and with great advantages, as you can imagine.
What requirements are there to apply for a loan in Ibancar?
The requirements that Ibancar places on those who want to apply for credit are very low, for the simple reason that trust does not depend on your credibility, but on the fact of having your vehicle as collateral.
In this way, you can request your loan even being on delinquent lists such as Financial Credit Institutions . So much so that, in reality, going to one of these car loan companies as collateral is the best way to get money for those people who have already exhausted all other avenues.
Having clarified this, say that the requirements will be to be of legal age, have Spanish nationality, and have a vehicle in your name that is less than 13 years old and without charges or pending debts.
It will also be necessary to show that you have the ITV passed and all the papers in order, and we will be asked for a minimum monthly income to guarantee that the loans will be able to be repaid (and it is that, although it may seem that they are, Ibancar keep your car, that's just a certain guarantee in case everything goes wrong).
So, as you can see, Ibancar does not demand too many things so that you can enjoy your loan. If you have a car in good condition and relatively new, you can have it.
Opinions on Ibancar: What do customers say?
Opinions on Ibancar are all very positive, and no wonder, because it offers very favorable conditions (as you have seen in the previous sections).
In general, clients highlight the fact of being able to enjoy the use of the vehicle while enjoying the loan money at the same time. And even more: They can do it without having to pay any type of rent (as we say, this is something rare in the sector).
Another interesting point is that the loan they give you is 70% of the appraised value, which is almost 50% more than what other companies in the sector usually give. That must also be valued very positively.
Of course, a negative point that everyone points out is that the maximum amount is € 6,000, which leaves a large part of the customers who own high-end vehicles out of the game.
However, as we have already said throughout the article, we do not consider this to be a company aimed at these types of clients, but rather at others with a somewhat lower economic position.
However, there is a reason why someone with a higher position might consider it interesting to go to Ibancar: When they do not need more than € 6,000 for their project. If this is your case, Ibancar is also a good option for you, in the opinion of many clients.
Why? Well, because they will give you the option of having € 6,000 to return in 36 months (a very low monthly payment) for an 18% APR and without stopping using your car. That is, it will be very easy for you to return the credit and you will hardly give up the benefits you currently have.
So, according to Ibancar clients, if you don't need more than € 6,000, this is a very good financing option. And it seems to us the most reasonable thing (although, of course, the person who can benefit the most from this service is the person with a lower income level).
Other car loan companies as collateral that may interest you ...
Here are some other car loan companies as collateral that may be of interest to you:
As you can see, Ibancar is an excellent opportunity to get liquidity to deal with your unforeseen events or start small businesses. And all with the simple convenience of using your car as a guarantee. Access to liquidity has never been easier!