You wish to subscribe a car loan in 2019 to finance the purchase of your car? How to make sure you get the best rate? Comparison of rates and tips.
The car loan allows the purchase of a new or used car. Its amount is capped at 75,000 USD and the repayment term at 84 months. Where and how to find the best auto loan in 2019? All the explanations.
Subscribe to a car loan: the benefits
There are several benefits to buying a car loan, whether the car is new or used. First, if the vehicle is not delivered, the credit is automatically canceled. Then, if finally the credit is not granted to you and the bank refuses to release the necessary funds, the contract of sale will be considered null and void.
Another advantage: the repayment of the car loan only starts when you are in possession of your vehicle. To take full advantage of these benefits, it should be verified that the purchase order mentions that the sale is conditional on obtaining a credit.
Where can I find the best auto loan in 2019?
Several players market auto credit offers:
- Auto credit agencies online;
- Traditional banks and online banks;
- Some specialized sites.
To find the best auto credit offer, it is advisable to turn to an online comparator. This tool allows you to perform a credit simulation online and get an immediate policy response. After receiving several car loan proposals, simply compare them to choose the cheapest and most suitable offer for your needs.
How to effectively compare auto credit offers?
You should know that not all credit agencies offer the same conditions. Indeed, the car loan rate, the total cost of the loan and the amount of monthly payments can vary greatly from one institution to another. To select the best offer, you need to consider the following:
- Your personal contribution: the greater your contribution, the less the amount borrowed will be high;
- The global effective rate (TEG): it corresponds to the real cost of the car loan and is useful to find the cheapest offer. The TEG includes credit charges including interest, fees and insurance contributions.
- Duration of loan: expressed in years or months, it determines the calculation of the amount of monthly payments.
- Insurance: Although the law does not require it for auto loans, insurance can be useful if you are unable to repay your loan.
To enjoy a car loan at the best rate, no need to move. Just fill out a free form in a few minutes. Once the loan is chosen, all you have to do is provide the supporting documents requested by the institution concerned.