Looking for a quick way to finance a car? Auto credit is the solution for you. With online banking offers, the process of accessing a car loan is accelerating and becoming easier, while online simulations allow you to make as many comparisons as possible to find the cheapest offer on the market.
Different forms of auto credit
For security reasons, banks and lending institutions offer individuals affected auto loan schemes. Thus, the loan is directly related to the purchase of a motorized four-wheeled vehicle, the characteristics of which are confirmed by the invoice or the purchase order that has been used as proof of use.
So, if the borrower has problems with the delivery of the purchased goods, it automatically cancels the car loan, whereas if the bank refused the loan to finance the purchase of the car, the sales contract does not will be more valid.
By cons, if you want more freedom about the car to buy and the amount of consumer credit, opt for the personal loan to get up to 75 000 euros loan to repay over 3 months to 5 years . Of course, you do not have the security measure specific to the loans allocated, but you can use the money released to buy the car, pay insurance premiums and maintenance costs.
Compare good credit offers
The conditions for granting a car loan vary from one bank to another, and it is important to always compare them to expect the cheapest formula. For this, you will use the free online simulation tools to indicate the amount you want to borrow and the repayment period that suits you.
The results of the calculation will show you the annual percentage rate of charge (APR) as an annualized percentage or an amount in euros and gives you an idea of the total cost of credit, including the nominal rate, commissions, file and miscellaneous fees.
You will also be able to compare auto credit proposals from the repayment period counted in number of months. Here, be aware that the more the monthly payments will be limited, the more your car loan will cost you less. And if you plan to sell your car, it is better to limit the credit period to 60 months to prevent the decline in its value in the market. And most importantly, do not forget to compare the other conditions for granting your car loan, such as insurance fees and the possibility of modulating payments.
Where to find a car loan?
In addition to online banks and auto credit comparators that direct you to the websites of their partner financial institutions, there are other lenders to turn to.
This is the case of car dealerships working with financial institutions to offer you a “pack” of auto credit already including car insurance, vehicle maintenance and troubleshooting assistance. Not to mention your current bank that could make you an attractive auto loan proposal.