Whatever the situation, buying a used car makes life easier. It allows you to move anytime and anywhere, which is a real pleasure.
Unfortunately, getting them is often a luxury that you can not afford. To satisfy individuals who feel this need, financial institutions offer credits for vehicle acquisition.
The peculiarities of the auto loan
The appropriations used include consumer credits that are directly related to the acquisition of a good. As it is related to the purchase of a car, auto credit is also part of this category. That said, you do not have the opportunity to buy anything else with the borrowed money.
In addition, the bank or the dealer pays the entire amount of the vehicle. In the case where the purchase is not made or the car has not been delivered, the credit is automatically canceled. If the car is damaged after delivery, you have the option to request the cancellation of the sale and also the credit.
In short, your obligations to the financial institution arise only at the time of delivery of the car.
Personal loan and car loan: What difference?
You have every opportunity to offer a car with a personal loan and a car loan.
Indeed, both are consumer credits. You can then choose one or the other to give life to your project of purchase of vehicle.
However, the personal loan is not categorized in the affected consumer credit. It allows you to borrow money, within the limits of your means.
The amount requested will be paid into your account and you can then use it as you wish. However, your obligations are born once the contract is signed.
By choosing a personal loan, you must repay your loan, regardless of the progress of the sale and delivery.
Auto credit is not just about buying a new car. You can definitely sign a contract as part of the purchase of a used vehicle.
In any case, the age, as well as the value of the car have a major impact on the calculation of the total sum of your loan.
Used car: No contraindications
The new segment is getting better thanks to the impetus of new models more reliable and more design.
In parallel, second-hand vehicles are also experiencing a real craze. To have a second-hand model with mileage between 75 000 and 100 000 km, you should expect 4,500 to 7,000 USD on average. The financing of the purchase with an auto loan is therefore plebiscite.
Car loan for used cars
You must keep in mind that buying a used car is not at all the same as buying a new car.
Sometimes one or more drivers have already taken turns driving and the model has aged on the mechanical term.
It’s also not uncommon for the average mileage of an excellent second-hand model to exceed 70,000 or even 100,000 km.
As the service life is shorter compared to a new car, you should expect a shorter auto credit time for your financing.
A credit at the best rate
With auto credit, you can become the proud owner of a beautiful used car. However, you must repay the loan by monthly payments previously defined.
These include the sum of the credit, the interest and the rate. In order for credit to not be a heavy burden on your income, it is highly recommended that you find a loan at the best rate.
To choose the cheapest car credit on the market for your used car, it is advisable to opt for the lowest repayment period and the best rate.
To do this, you can use our online car credit comparison tool. By simply completing the form, you can discover the best rates available on the entire French market.
It also allows you to find the best offer for your used vehicle acquisition project.
By comparing and simulating several auto loan offers, you compete and can enjoy the best options. You can also realize considerable savings, which is not to be neglected.
Take out a car loan from a dealer
You can also buy a car loan directly from a dealer. This convenient solution allows you to obtain even more profitable credit terms.
Indeed, you can negotiate a discount on the purchase price, negotiate additional equipment to your car pack or pay a personal contribution. You can also find dealers who offer zero-rated or PTZ car loans.