Even if the amounts are lower than those of a real estate purchase, signing a car loan (and a consumer credit in general) commits you financially. It is therefore strongly advised to prepare your project before applying for a loan.
Prepare your purchase by consulting the auto rates.
Let’s start with auto rates. Our barometer allows you to have an overview of the rates in force and to follow their evolution. Two types of rates are proposed: the average rates and the minimum rates (that is, the rates offered to the best files), established according to different amounts and different durations of borrowing.
And simulating his auto loan
Do you have an overview of the auto rate you could get? You can start simulating your auto loan, which means calculating your future monthly payments. It’s simple, fast, free and without commitment. You just have to fill in:
your type of project;
the desired amount;
the duration of the loan;
- the fixed rate, which is displayed automatically according to the duration indicated.
You instantly get an answer on your future monthly payments.
What is a car loan?
The car loan is not included in the list of consumer loans set by the Consumer Code. And yet, it is indeed a consumer credit.
The explanation is simple. What is called “auto credit” is a trade name used for the sake of simplicity for borrowers. Behind this expression, lenders actually offer a credit allocation, a personal loan, or even a LOA (lease with option to buy).