New or used car loans are still in great demand by the French. If the solutions of LOA (rental with option to buy) now concentrate three quarters of the financing of new cars, classic auto credit, often cheaper, still has a bright future ahead of it. One question remains unanswered: how to get the best car loan rate?
How to get the best auto credit rate? The three stages
You have to know who to turn to to figure out how to get the best auto loan rate. Dealers are obviously in a strong position to offer financing for cars or two wheels. Our experience shows, however, that the APR rates for auto credit offered by the credit organizations of major automobile brands (Diac, Viaxel) are generally less attractive than those for specialist organizations (auto credit Bankil, Bankate, etc.). Banks or specialist insurers also do not have the means to offer better solutions than those offered online. Let’s take a look at the three essential steps in the search for the best car loan rate .
Defining your project and budget
Knowing how to set your budget is the first step in finding out how to get the best auto loan rate. It is important to distinguish between new and used auto credit, since the financing solutions differ. You almost always have to provide a vehicle purchase order to get a new car loan , when it is not necessary to finance a used vehicle.
Having a clear idea of the project goes hand in hand with calculating the necessary budget.
Compare online car loan deals
The best auto credit deals are usually found at credit agencies. Using a credit comparison tool simply identifies how to get the best rate on new or used auto credit.
Get a favorable opinion at the best rate
Our new or used car credit comparator is able to provide an immediate response in principle to any request. A simple form makes it possible to question all the specialists. Favorable opinions will receive a final proposal by email within 24 hours.
Should we trust the LOA?
We never talk about rates in the case of an LOA (rental with option to buy). It is a popular but disparaged type of consumer credit, mainly due to the total cost which is difficult to estimate. Our opinion on LOA, which is based on several surveys and simulations, reveals that the cost of an LOA formula is more important than that of a conventional car loan. It is generally always more interesting to opt for a classic car loan before giving in to the sirens of the LOA.