Buying a car is no longer an impossible project, as there are many organizations that offer loans at an attractive rate. The car loan or assigned loan is an offer exclusively intended for the purchase of a vehicle and whose amount is limited to 75 000 € for a repayment period of 84 months. If you have already chosen your next vehicle, but the budget is not there, it is possible to obtain your car credit by going to Macif’s website.
How to find an advantageous car credit?
However, your desire to buy a vehicle is becoming clearer, you still don’t know how to finance your project. Be aware that there are many structures that can help you. However, not all of them offer the same conditions. Indeed, the amount of the loan, the monthly repayment instalments as well as the interest rate can vary significantly from one lender to another. Take a closer look at these elements that will help you choose the most advantageous car loan.
The repayment period: the duration of your loan is a key element that will determine the monthly payment rate, hence the importance of keeping it as short as possible.
The overall effective rate (TEG): this is the actual amount of your car loan. The TEG must be competitive, as the various insurance contributions, interest rates and application fees depend on it.
Competitive car credit insurance: an advantageous car credit must offer a protective insurance that guarantees monthly payment installments in the event of the borrower’s temporary incapacity to work, death or loss of autonomy.
Do a car credit simulation online: you can do this operation on Macif’s website, this allows you to evaluate your borrowing capacity and the number of possible monthly payments according to your personal situation.
The different types of car loans available on the market
Several types of car credits are available to individuals who wish to purchase a vehicle:
Allocated” consumer credit: this is one of the loans granted to households for the purchase of capital goods (furniture, cars, household appliances, etc.). This type of loan is granted more easily by financial institutions and often at a better rate, as it can be cancelled if the purchase of the property is not completed.
Personal credit: this loan offers more flexibility in the use of the goods and services it provides. The funds can be used to cover all kinds of needs such as renovation work or personal needs. However, it must be refunded even if the purchase of the property is not conclusive.
Zero interest rate loans offered by some dealers: these are interest-free loans whose repayment is limited to the amount borrowed to purchase the vehicle plus the amount of insurance and the administrative costs.