Car credit simulation: find the best rate

9 Oct

Thanks to our auto loan comparator, get a car credit simulation and the ranking of the best rates! Because not only are we a car loan comparator but beyond providing you with a car loan simulation, we have developed a system to increase the chances of obtaining the best rate for each file. for clarification

Auto credit simulation: how does it work?

Auto credit simulation: how does it work?

Our car credit simulator works on the basis of rate statements that we regularly carry out with the largest financial organizations. For all offers, all durations and all amounts, we raise the APR overall annual effective rate which is the benchmark for our car credit simulation ranking.

Why this rate? The APR is the reference defined by the Law on consumer credit as having to be imperatively communicated by the credit organizations. This rate includes all credit charges, including administration fees when there are any. This is therefore the reference rate for our credit simulation. You can check for yourself on the legal website on the Credit Act.

To obtain a personalized car credit simulation, you will complete a questionnaire which has 2 main advantages.

The first is that you will only have one questionnaire to complete to obtain a car loan simulation from all the credit agencies and know the ranking of the best car loan rates. This first advantage does not stop there. In the last screen of our credit questionnaire, you can perform as many auto credit simulations as you want to refine the monthly payment or the rate you want to obtain.

The second advantage, completely exclusive, is that you will benefit from an evaluation of the cheapest body. Thanks to this system, you will know what to expect regarding the eligibility of your file for this rate, always without commitment at this stage. You can therefore decide to question the organizations that offer the 2nd and 3rd best rates and thus put more chances on your side to actually get the best rate.

Why do we recommend interviewing multiple organizations? Often, organizations only accept the best files on their lowest rate to preserve their margin. So even with a good file, you could be refused. This is why we recommend asking several organizations after your car credit simulation. In addition it only costs you one click, it is not engaging and finally we ask organizations not to send you commercial solicitations by email.

Auto Credit Simulation: Getting the Best Rate

Auto Credit Simulation: Getting the Best Rate

Our car credit simulation will give you the ranking of the best rates and can save you several thousand USD on credit costs! You don’t believe us?

  • Here is the proof: Take the example of a 20,000 USD loan over 72 months . Our car loan simulation will show you that the best car loan is currently at the fixed APR rate of 5.30% while the most expensive rate is 9.77% (rate noted on September 8, 2014).
  • Best credit : fixed APR: 5.30% monthly payment: $ 323.73 total interest cost: $ 3,308.56.
  • Most expensive credit: fixed APR: 5.30% monthly payment: $ 364.07 total interest cost: $ 6,213.04.

Or a gap proven by our car credit simulator of more than 2900 USD !!

And for the most expensive credit, we did not go to look for a small “well hidden” credit organization. No no, it is one of the best known organizations that makes many television ads!

Auto loan versus rental simulation

Auto loan versus rental simulation

We are seeing more and more offers blooming for long-term rental or rental with option to buy, the famous LOA and LLD. And for good reason, these financial products have 2 enormous advantages: it is not compulsory to communicate on the rate on the one hand and on the other hand, these products allow to offer small monthly payments to hide big profits. And it’s not like with a car loan simulation, with rental, it’s almost impossible to know what rate corresponds to what financing.

But that didn’t stop Credither. We took up the challenge and dissected an offer to compare credit and rental as objectively as possible.
Because it goes without saying that if you simply add the amount of the first rent, the amount of the monthly payments during the rental and the trade-in value you are always more expensive with a rental than with a credit.

But rental products are rather made for people who do not want to worry about the resale of their vehicle and change their car regularly. As an objective car loan comparator, we therefore wanted to compare rental products with a car loan simulation with resale of the vehicle at the same time as the end of the rental contract. We also had to take into account the wear and tear of the vehicle, the resale value etc … Well, our exclusive comparison of car credit, LOA and LLD is very clear: car credit is really cheaper. It costs 1,200 USD cheaper than an LLD and 2,000 USD for a LOA over 4 years for a car of around 20,000 USD, all the details are in the comparison.

You now know the price of having someone else manage the resale of their vehicle. And if it is rather the small monthly payments that attract you in rental products, pay attention to the value of the first rent and the value of the purchase option which are often extremely increased to artificially lower the monthly payment. If it is a car at 100 USD per month that you are looking for, also consult our article, we have performed the car credit simulation for you, it is possible !! and at the best car credit rate!

The manufacturers offer a car credit simulation

The manufacturers offer a car credit simulation

They take a big share of auto financing. It’s normal, it’s always easier to have the client sign when he is present in front of you and he has the car he wants in front of him…

This is not a reason to let yourself fall asleep !! Even if there is no car loan simulation in concession, look at the rates !! In general, car loan rates in dealerships are more expensive than elsewhere. It is only during commercial activity that the rates can be really cheap (see free credit like recently at Volkswagen). But it is only a few weeks a year. And since they offer you discounts on rates, make sure that the discount on the price of the car is sufficient. Otherwise, this is called communicating vessels.

So before signing anything in concession, perform a car credit simulation on our site to check where the market prices are. In this regard we even have a negotiation technique to ensure you have the best rate.

Negotiate your car loan in concession

You have to keep in mind that car sellers are outstanding negotiators. When you went to buy your car, you didn’t go to the garage with your hands in your pockets. Obviously, you have consulted the prices on the internet, listened to what was said in the auto forums (we recommend this auto forum), looked at the prices from importers, etc. In short, you have prepared your negotiations by looking at the market. What about credit? While we have shown you that there is almost 3000 USD to save !!

So obviously the first step is to use our car credit simulator to get the ranking of the best rates. Our simulations are carried out as for a credit without contribution but you can make a contribution, that does not pose any problem. But that’s not all. If you stop there, you will not be credible with your interlocutor who is a specialist and who knows that you want the car. No, you have to get the best real offer.
Remember, our comparator not only allows you to obtain a car credit simulation with the classification of the best rates BUT you can also obtain without commitment a real and tailor-made proposal (even the 3 cheapest proposals). Well, that’s what you have to do. You will get a formal proposal in writing for the best rate at which you are eligible for the largest credit agencies.

Then go with this concession proposal. The seller can tell you what he wants, you have a real proposal in hand. There are only 2 options left: either it offers you a better rate, or it cannot line up and you already have the best offer in your hands !!!

So a car loan simulation in dealerships or on the internet?

With what we have just explained to you, you can see that the only car credit simulations that exist in dealerships are those that the seller can give you. The one that suits him but not necessarily you. And especially not in terms of rates. So at a minimum, do a car credit simulation on our site before going to the dealership.

Go as we know we have everything to gain ? here is the access to the car credit simulation offered by Diac on the internet. You will see for yourself that the rates offered to you are worth the detour!