Are you thinking of buying a car and looking for a car loan suited to your needs? Start by finding out about the characteristics of this financing granted by banks and financial institutions in the form of an installment loan which will allow you to obtain the necessary budget, and this, with repayment terms fixed in advance.
Everything you need to know about the car loan.
Learn the jargon related to car credit
As of the phase of research on the internet, you will be confronted with vocabularies specific to the medium of the auto credit and it is better to inform you before the phase of negotiation with the banker who will grant you this auto financing. Thus, you will receive a prior offer of credit after the online simulation of your car loan.
This document must include your contact details and those of the credit institution, specify the nature and the price of the car to buy, present the characteristic points of the credit which are inter alia the amount borrowed, the repayment period, the effective annual rate. global or APR, insurance costs, the date of submission of your prior offer and the number and cost of installments.
For individuals wishing to subscribe to auto financing, financial organizations often offer an assigned loan contract, that is to say that the funds granted to you will only be used to acquire a specific property, in this case a car whose brand, category and type are specified in the order form or the invoice which will have served as proof of purchase.
Why do car credit simulations?
Many car loan offers are available on the Belgian market, so it is essential to compare them to find the best offer.
This step is made easier thanks to the arrival of online simulation tools, comparators which act as virtual calculators to calculate your car loan according to the amount you want to borrow and the repayment duration that suits you. Thus, you will only have to indicate this data to obtain quotes from credit institutions and you will only have to choose the one at the most advantageous rate.