You want to finance your car cheaply? Find out how to choose the best auto credit offer over 5 years or 60 months.
The auto loan makes it possible to finance the purchase of a vehicle under a fast delay, whether it is a new model or used. Many dealers offer advantageous rates through their partnership with financial institutions.
The different types of auto credit
Before taking out a car loan over 5 years or 60 months, it is important to learn about the different types of existing loans.
The auto credit assigned
The majority of new and second-hand car buyers have an auto credit assigned because of insufficient budget to make a cash purchase. Once the loan offer is accepted, the funds are paid directly to the seller. The buyer remains free to select the make, model, options and color of his vehicle. It should be noted, however, that in many cases, the affected car loan does not cover the entire purchase. The subscriber must then personally contribute to this expense.
The personal credit can be contracted from a bank or a credit institution. After acceptance of the credit application, the borrower can use the money as he wishes. The interest rate of the personal credit is nevertheless higher than that of the credit affected.
Long term rental
This method of financing has many advantages: the knowledge in advance of the value of recovery; the choice of the car as part of a classic purchase; low monthly payments; the assumption of the expenses of maintenance. The long-term rental is particularly suitable for people who want to change cars regularly.
The comparison of different car credit offers is essential before any transaction.
The steps to find the best auto credit over 5 years
These steps will help you find the best auto credit offer over 5 years or 60 months and therefore finance your vehicle at a lower cost.
Determine the type of auto loan desired
Before subscribing to a car loan, it is essential to understand how it works, its advantages and disadvantages. You will then need to choose the type of loan that suits you.
Compare offers of car loans
To know the rates practiced on the market, you will need to use an online credit comparator online. The use of this 100% free tool is very simple: you only need to indicate the amount of credit you need and the expected repayment period. Seconds later, you get a list of offers matching your search.
Ask for a personalized quote
After obtaining a complete list of auto credit offers, select at least three that have favorable terms and rates. Feel free to request a quote online to compare these offers in more detail.
It is possible to reduce the cost of your car credit over 5 years or 60 months by justifying a personal contribution. Indeed, this sum reassures the bank and allows to obtain a lower rate. Similarly, to put the odds on your side, avoid overdrafts or payment incidents. The good management of your bank account is a proof of your solvency.