Offered by banks and credit organizations, auto credit is an attractive financing solution for individuals. Indeed, the acquisition of a car represents an important step at the level of the family budget and the best would be to be able to offer the ideal vehicle with a loan which will be reimbursed little by little over the months.
But between interest rates, fees and car loan formulas, there are many questions when it comes to finding the best offer on the Belgian car loan market.
What fees and what interest rates for a car loan?
The choice of the best car loan is essentially guided by the interest rate, mainly the APR or annual effective annual rate visible on the prior loan offer. This APR covers the interest on the loan, the administration fees and the insurance costs.
Often, application fees are offered for auto financing solutions offered by online banks, and if this is not the case, you can always negotiate this gesture by referring to an auto credit offer similar to that offered by the credit institution of your choice. To prevent possible periods of financial worries, ask your banker to grant you the possibility of carrying over monthly payments without penalty.
Auto credit: what is the purpose of online simulation?
The online car loan simulation allows you to compare the many proposals of Belgian financial institutions, without having to travel to an agency. So, you only have to use your laptop or your Smartphone to connect to the online simulation site in order to search for the best car finance offer that most closely matches your search criteria: the amount of the loan , repayment tenure, interest rate and cost.
To properly compare car loan offers, you can direct your research based on the amount you want to borrow if you already have an idea of the cost of the car to buy, or by indicating the cost of a monthly payment supported by your budget.