How about changing your car today? Why hesitate? If it's a financing problem, know that you can take out a cheap auto loan to finance the purchase of your vehicle.
Our advice for obtaining a car loan
If want to buy a new or used car. The timing is right. This consumer credit is a great help for all French households. However, a good car loan is measured by its ease of access and its flexibility because it does not restrict the option at the level of brands and car segments.
It is the profile of the borrower that determines the quality of this type of loan. Any borrower should master his repayment capacity, his financial standing which exempts him from the famous personal contribution often required by banks.
A good auto loan exists
The borrower should check with the concessionaires or use the services of an agent to be able to present to the lending institution a proof of the project, validated by the seller.
An affordable APR, a large amount to be repaid over 24 months with a suitable monthly payment in relation to the applicant's monthly income, is called good auto credit.
According to the rate barometer, for a loan between 5,000 US dollars and 9,999 US dollars for 12 months, the average rate is 1.79% For 36 months, a loan of more than 15,000 US dollars is 2.59% .
A good auto loan benefits from viable borrower insurance that secures the purchase in the event of an accident or other unforeseen circumstances.
What is the right duration for your auto loan?
The repayment period must not exceed the official argus period of 5 years. Experts believe that a repayment period between 24 and 36 months is reasonable.
The borrower must imperatively know his possibilities. He connects to an online platform. He performs a credit simulation. What is the right amount to borrow? Answer: when the monthly payment represents less than 30% of his stable monthly income, it returns him the amount of the viable loan. From this amount, it will target the vehicle and the dealership.