Are you dreaming of acquiring a new car and looking for the most suitable financing method? The new car loan is the best solution for your situation. Proposed by financial organizations, …
Are you dreaming of acquiring a new car and looking for the most suitable financing method? The new car loan is the best solution for your situation. Proposed by financial organizations, it allows you to benefit from financial assistance with a maximum value of 75,000 USD, repayable in 12 to 84 months. Subscribed in the form of assigned credit, the new car loan is a reassuring formula, because the borrower will have obligations towards the bank only after effective delivery of the property. Visit legalaidua.com for a summary
Through this site, you will make a remote simulation of the credit offers intended for the purchase of a new car, before choosing the proposal which corresponds most to your financial possibilities and which best meets your personal expectations.
An online comparator to find the best rate for a new car loan
Thanks to the internet, the process of finding a new car loan is made easier. This is the case for pretauto.be, an online comparator which provides you with a free online simulation. In a few clicks you can compare the offers of our partner establishments and have an overview of the rates charged on the market. Especially since the research will be conducted according to your own selection criteria and your expectations in terms of budget and repayment duration.
The resulting quotes will give you details of the interest rate applied for a new car loan, the total amount you will have to pay during the term of the loan and the cost of a monthly payment. This tool is therefore made available to you to help you make the necessary calculations to arrive at the level of reimbursement that will prevent you from sacrificing the household budget.
The various proposals resulting from the new online car credit simulation will therefore help you find the best interest rate. This is essential, because the car loan falls into the category of consumer credits protected by a law which stipulates that all the quantified advertisements which evoke an amount or a rate must show the APR, the total effective annual rate, a value reference which includes all the costs related to the car loan, whether it is the administration fees or the interest. With our comparison, you get offers with APR, giving you the possibility of making an objective comparison of the proposals and choosing the best of all.
Because the new car loan is taken out in the form of an earmarked loan, you will provide proof of purchase to the credit organization that will grant you this loan. This will allow him to know in detail the price of the new car you are going to buy, as well as the discount curves for this model.
Once reassured, the bank will be more inclined to offer you a car loan at a better rate, because it already knows the amount of money it can recover if ever there is unpaid and seized property. And above all, do not hesitate to play the competition by comparing the offers of financial institutions and talking to them about the more advantageous interest rates that you will have obtained. Especially since the interest rates are capped and the application fees are often free from specialized establishments.
New car loan: the criteria to take into account
Besides the interest rate, other criteria must be taken into account when choosing the best new car loan offer. Starting with the overall cost of the credit which takes into account the rate determining the amount of the monthly payments, the insurance and various costs such as exit fees, administration fees and prepayment fees. Next is the term of the loan, which also affects the interest rate on the amount borrowed and the final cost of the loan. Note that the shorter the repayment period of the loan, the more you reduce the total amount to be repaid.
Credit terms will also need to be taken into account. For a new car loan, it is often a fixed-rate loan, the repayment duration and the amount of the monthly payment are determined in advance to help you better manage your budget, thereby avoiding you. occasion a situation of over-indebtedness. Another criterion to take into account, the outflow of credit will require you to pay a substantial fee when you go to make an early repayment.
To reduce the total cost of a new car loan, some financial organizations will ask you to provide a personal contribution. It is a way of encouraging you to participate in the purchase of your vehicle, and it is above all a pledge of confidence. But if you do not have enough savings to provide this down payment, it is always possible to opt for a more simplified new car loan offer, as long as you are able to prove to your lender that you are in good shape able to repay this loan.
And to put all the chances on your side, define the budget necessary for this project of acquisition of a new car, by highlighting your repayment capacity and by proving that the monthly payments are well supported by your family budget.
So, if you decide to apply for a new car loan to finance all or part of the acquisition of a high-end model, remember that you can only borrow $ 75,000 at most, which will help you generate your own limits and reassure your financial organization with a project well supported by your repayment capacity.
Another important criterion, new car credit insurance is essential to better manage the unexpected. Among the most recommended formulas, you have among others the insurance for the temporary interruption of work, the loss of job, the death or the definitive and absolute invalidity, situations where the insurance will take over for the payment monthly payments and repay the new car loan.
You will understand, taking out a new car loan is a decisive step where you agree to repay the installments for years. Before concluding a credit agreement, take the time to review your priorities and determine the impact of this loan on your budget and your income.
Hence the importance of the online simulation of creditauto.be, a free and no-commitment comparator that helps you better review the feasibility of this project, while giving you an overview of the cost and the number of monthly payments, a global vision of what awaits you by committing to paying deadlines during a given period. What is more, new auto credit is framed by the consumer code, which gives your lending institution the right and the obligation to study your file to define your debt ratio according to the capital you wish to borrow.
As a reminder, the maximum debt ratio is set at 33% of the total income, which will allow you to avoid over-indebtedness and keep optimal living comfort, especially since a car is a semi-asset. – perishable whose value will decrease over the years.
Buying on credit: choosing the right car
Because the automobile is a semi-perishable good that you will buy thanks to a new car loan, it is important to choose it well. But how do you decide if you don’t have a preference for this or that brand? And the choice becomes more complicated when you have to decide between the 46 car brands, the 500 models and the 9000 versions available on the market. To help you, make a list of your needs and your criteria for choosing a vehicle to buy on credit, including the budget required, the category of the car, the volume of the trunk or the number of seats.
Then come the secondary criteria which are, among other things, the bodywork, the color, the energy used or the level of equipment. Once you have determined your needs, you can proceed to the stage of comparing new cars placed on the market by relying on the technical sheets, photos and other details provided by the online comparators.
Negotiation will also be your best asset to find the new car supported by your budget. Indeed, you will have to provide an invoice or a purchase order for the new auto financing request, and it is better to find the most advantageous offer to better reassure your lender with a discount of 10 to 12% that you will have obtained as a commercial gesture. To access it, do not hesitate to inquire about the type of vehicle you are going to buy and be patient when negotiating your purchase.
It is also advisable to wait for the best buying periods which are located in August, September and January, which correspond, inter alia, to the off-peak periods and other balance sheets and forecast schedules which push the dealers to organize operations of discount and clearance. By making sure you find the most attractive new car, you reassure your lender who will be more inclined to grant you a new car loan at the best conditions.