Car Loan Interested rates statement guide today


Car loan guide various type of information to help you with your Interested choice rates!


By choosing to finance the purchase of your car by means of a car loan, you give yourself the opportunity to acquire it even if you do not have the full amount in cash.

The car loan is an installment loan: you pay back the bank according to a set rhythm and term. With this credit you can finance a car, both a new and a second-hand car.




There are differences between the banks offering a car loan. It is therefore recommended to compare the contracts with each other, and then find the cheapest formulas, or choose the formula that best suits your personal situation.

Do not lose sight of the fact that when you borrow money, you also cost money. Compare the interest rates and choose the least expensive interest rate on the market. Informing you well will also give you money.

It is advisable to stay alert because interest rates are periodically adjusted by the lenders. We regularly update our rates on any service so that you are always able to view the various interest rates offered by the various banks we have selected on our site in order to choose the best interest rate for your car loan.

Your benefits


A fixed interest rate during the entire term of your car loan  Competitive prices.
Borrow up to 110% of the purchase price to also pay the first costs.

Also for green cars


Society is becoming more and more committed to the climate. Antwerp, for example, will fight the most polluting vehicles from 1 February 2017, the Brussels Capital Region from 2018. We therefore gladly give you a helping hand with our interesting Eco-credit for green cars.


From 1 February 2017, the inner city of Antwerp and Linkeroever will become a low-emission zone. The most polluting cars are no longer allowed to drive into these districts. It applies to passenger cars, camper vans, vans, trucks, agricultural vehicles and buses. And that seven days a week, 24 hours a day. does not apply to mopeds and motorbikes. An overview of the admission requirements for Antwerp


From 2018, old diesel cars will be banned from the Brussels Capital Region. From 2019 the rules will become even stricter. Exceptions to this are those parts of the ring lying on Brussels territory. Checking this measure is done through automatic number plate recognition and parking attendants. From 2019 the rules will become even

The car loan is an installment loan with which you can finance the purchase of a new or second-hand car.


The purchase of a new car can take a big bite out of the budget. A car loan is therefore a useful way to spread this cost. It is a relatively cheap loan, and also has a reasonably short duration. In most cases the duration of a car loan is between 3 and 10 years.

Not only is a passenger car eligible for a car loan. Depending on the bank you can also take out a car loan for caravans, mobile homes and motorbikes!


Simulation car loans


To calculate the amount of the monthly repayments, you can consult various simulations on the internet. For example, compare the rates below and simulate your loan.

The bank will deposit the borrowed amount into your account in one go.


The installment loan has a fixed interest rate. You will therefore have to pay a fixed amount every month.
By calculating a car loan you get an overview of the monthly repayment, the repayment term, the total amount of interest that you will have to pay and the annual percentage rate of charge. Performing a car loan simulation is always entirely without obligation.

How much can I borrow?


To determine your borrowing capacity, among other things, you look at your monthly income and expenses. Usually it is stated that you need at least 1000 euros per month to cover your regular expenses. So if you earn 1300 euros per month, you could pay up to 300 euros per month for a car loan.

Car loan rates


It is generally known that the car loan is a very competitive loan. This ensures that the rates of the car loan between the various banks can vary greatly and you can benefit from this as a potential borrower. Before closing a car loan, it is always a good idea to compare the different rates.

At first glance, the cheapest car loan on the market seems the most interesting, of course, but are there any drawbacks? It is a fact that a sharp cost price on a credit can result in less interesting credit terms. This ensures, for example, that there is no possibility to request a deferment of payment for a period in which the financial situation is less good.

Many people automatically assume that their fixed bank has the most interesting conditions for taking out a car loan, especially because you have been a customer for a long time. Unfortunately, that is not the case, so compare well. If you can show a better offer to your house banker, it may still make an effort.

Just like other loans, one car loan is not the same as the other. The most important differences are in the amount borrowed, the interest rate and the term.

Loan amount


Usually the full cost price of the car is loaned, but in some cases it is also possible to borrow up to 110% of the car value. This extra 10% can then be used to cover additional costs such as car insurance.

Interest


The cost of the car loan depends on various factors. In addition to the general economic situation, the loan amount, the term of the loan and the age of the car are also important. A car loan for a used car is more expensive for some banks than for a new car. However, not every bank makes a distinction here.
Because a car loan is a short term loan, it is very rare that the interest rate is not fixed.


Duration


As mentioned earlier, the car loan is a loan with a short term, which is also legally established.


Green car loan


Banks give discount on the interest rates if you buy an energy-efficient car. Nowadays, the so-called CO2 emissions are always taken into account when calculating the costs for your vehicle. A vehicle will emit a certain number of grams of CO2 per kilometer driven. Each bank can use different conditions to speak about an eco-credit: at one bank the emissions for diesel will have to be below 130 grams per kilometer, while another bank can find a 130-gramme acceptable.
Electric cars, hybrid cars and cars that have an LPG installation are always considered green vehicles.

Borrow from a bank or car manufacturer?


A car loan can not only be obtained from the traditional major banks such as BNP Paribas Fortis, ING, KBC or Belfius. This is also possible with the most important vehicle manufacturers. One then speaks about a purchase on payment. These offer interesting offers especially in the period around the motor show. There are, however, two important differences between a bank and a car manufacturer:

An advance of at least 15% is mandatory for a car manufacturer! In many cases, an increased final installment is added.
It is possible that the car brand remains the owner of the vehicle until the loan is fully paid off.

Maximum running times


The term of a car loan is legally limited. The lower the amount, the lower the maximum duration. In practice, a car loan with a duration of 5 years is the most common.



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