Far from having the funds necessary to acquire a new car, you are counting on car credit to make this dream a reality.
However, the financing offers intended for the purchase of a new car are numerous and very competitive and it is better to take the time to make comparisons before signing anything.
To do this, there are new online auto credit comparators that allow you to search based on the amount to borrow and the repayment tenure.
Compare new car loan offers, basic criteria
Accessible free of charge and without obligation, online car credit simulations help you find the financing offer that best meets your expectations and that matches your financing possibilities.
Both essential and decisive, this stage of the search for auto financing is based on certain key figures, in particular the interest rate that you will pay to your creditor in exchange for the loan he will have granted you. This is the nominal rate that delimits the annual interest, regardless of the repayment period.
Another data to be privileged, the APR or annual effective annual rate includes the nominal rate and the possible costs of file, insurance, guarantees and the additional charges set up by the lender. These fees are all the more important because they will allow you to reduce the cost of credit when negotiating with your banker.
Tips for getting a new car loan at a better rate
There are many procedures that help reduce the cost of a new car loan. And the first thing to do is take the time to compare the offers, avoiding haste.
So, if your dealer has already offered to take out auto financing directly with their partner financial institution, take a step back, because if this offer seems practical, you risk signing a high-rate car loan contract and then regretting by finding significantly more advantageous offers from online banks and credit institutions.