The aim of consumer credit is to help households make important projects in their lives. Of course, that says important projects also means significant expenses.
Nowadays, more than twenty million families have at least one credit in progress for the financing of works, studies, the purchase of a vehicle, big events like a marriage or a birth, or a vacation.
Auto loan, the most requested credit
Given the large amount of money needed to purchase a vehicle, most people can not afford to pay by cash. Acquiring a vehicle through credit is more and more a solution chosen by most households. Indeed, more than half of consumer credit concerns a credit allocated to the purchase of a car, a motorcycle or a boat.
Its advantage lies in the fact that it is interdependent with the purchase contract of the vehicle in question. Specifically, if the sales contract is canceled, the credit will also lapse, and conversely, if it turns out that the credit requested by the future buyer is refused, the sale will also be null and void.
How to find the best auto credit?
Most car dealerships and automakers have agreements with credit agencies to facilitate the sale of their vehicles. But there are also some who have their own body. The proposed conditions are therefore very varied and vary from one model to another. The best time to buy your car is probably in the fall, when builders sell their stocks of the year.
Why ? The conditions are more attractive on a model that sells poorly and at this time the other potential customers will have their heads at parties that will arrive very soon. Winter is also a good season, but not too close to the New Year.
The auto credit rates depend essentially on the amount borrowed as well as the duration of the repayment. But the credit institution must also take into account competition. Thus, the offers on the market are more or less similar.
What you need to prioritize in your credit research are insurance, the total cost of your credit and services related to your loan. Hence the importance of always making a comparison before embarking on such or such commitment. Online car credit comparators are free of charge and free to ensure you get the best credit.