After the motor show, it’s time to buy a car
The decline in the rate of consumer credit continues and the recent Paris Motor Show, which has registered more than one million visitors, engage the auto market in good mood.
This double factor creates a favorable context for launching negotiations with banks and financial institutions to obtain a car loan.
The auto loan is an assigned credit. It is safe even if the negotiations are complex. The allocated fund is transferred directly into the dealer’s account. Refund will only begin if the vehicle is delivered.
The price of a new vehicle is negotiable
The potential buyer can resort to an agent broker who knows the sector or a dealer, the price of a new car is still negotiable.
The first thing, before approaching, a lending institution is to ensure for the purchaser that he has the financial opportunity to buy a new car. He makes his own assessment to know its financial area through its monthly income and personal contribution because it is a strong argument in terms of persuasion for lenders.
We must control its financial surface
The purchaser must also know that the duration of the repayment, the Annual Effective Total Rate that suits him because it determines the monthly payment every month. The future purchaser must know that the monthly payment must not exceed 30% of his monthly income.
The acquirer will have its information which also include the borrower insurance rate, an important element in this operation by connecting to specialized online sites.
The second thing to do is to have all the information about the car he intends to buy. He can approach a dealer directly. He may also entrust the file to a professional agent. The objective is to play on the competition to have the offers in the best conditions.
Include Capital Discount Option
After negotiations if agreed, the buyer will submit the file to the lending institution of his choice. Again, you have to negotiate for discounts.
A car is perishable even new. include clauses that protect you in the event of an accident. For example, the capital discount option which is a compensation in the event of theft or total destruction of the vehicle or the breakdown guarantees. The borrower insurance is highly recommended in the auto loan.
Finally before taking the plunge to buy your new car, do not hesitate to make an online credit simulation to find the best financing.