Car loan – auto credit simulation
The car loan, what to know:
The time has come to replace an aging vehicle with a new, better and more efficient one. A young driver wants to buy a first used car (or new) but does not have the necessary budget for such a purchase.
Unfortunately an accident can happen and it is important to replace your vehicle as soon as possible. This unforeseen expense can severely strain the family budget.
The use of car loans is one of the most suitable solutions to meet the demand while adapting to the financial situation of the consumer.
Special features of the car / motorcycle loan:
This loan formula is an installment loan specially designed for the purchase of a motorized vehicle (car, two-wheelers, motorhomes, etc.) that is granted to an individual. So outside of the professional sphere for which other options exist … Nevertheless, a trader who would use his private vehicle to make, from time to time, a delivery, could benefit from this type of loan.
Opting for the car loan is taking advantage of a “tailor-made” that will fit the best, the financial situation and the ability of the consumer to repay.
If the new car option is selected, it is possible to finance all or part of the purchase of the vehicle. The usual references will be asked in order to verify the solvency of the client (the capacity to repay a debt): last payslips proving sufficient and regular income, amount of loans already in progress, household expenses … The financial partner will have to make a verification with the Central Credit to Individuals to ensure that no other debt remains unpaid.
Of course, a vehicle order form written by the garage or the car / motorcycle dealer will be required!
Several options will be proposed, the rate may vary depending on the amount borrowed and the repayment period (in monthly installments). You will benefit from a higher rate if a personal financial contribution can borrow part of the sum only.
If the property which one is planning to acquire reaches a substantial sum, a guarantee may be required under penalty of being refused the loan.
In the case of a used vehicle, a car / motorcycle loan is often granted if the vehicle is less than two years old (to be checked with the chosen financial institution, this can vary from one partner to the other). other). If not, there are other less attractive installment loan solutions.
Sometimes it is also worthwhile to extend the repayment period to pay back small monthly payments that will help keep the household budget balanced.
In case of acceptance of the loan, once the file is finalized and signed, the borrower will have to provide a valid invoice in the form of the acquired vehicle. According to the lender, the amount will be paid into the borrower’s account or he will pay directly to the seller the amount of the invoice of the vehicle.
More and more often, the lending organizations propose to the borrower to take out an outstanding balance insurance which will reimburse the loan in the event of death or disability of the insured.
To learn is to win!
Many creditor institutions are able to offer the different formulas that best fit the situation of each.
It is interesting to take the time to learn about the commitment that may be made. One request is not the other and different calculations can unlock a project that previously seemed impossible to achieve.
Free price simulators, such as premou, allow the consumer to obtain, for information purposes, a clear vision of the duration of the loan as well as the amount of the monthly payments to be reimbursed according to the sum requested. This greatly increases the chances of borrowing at a favorable, suitable credit rate and this does not bind the claimant.
In addition, if desired, ready t puts the consumer in touch with various partners in order to finalize the project as quickly as possible.
Do not forget: a credit is a commitment! All loans must be repaid in due time!