Find the best car loan with bad credit

What is auto credit?

The car loan is a loan dedicated to the purchase of a new or used car. There is also talk of credit affected because its use is exclusively for the acquisition of a vehicle. Its amount is capped at 75,000 euros and a duration of 84 months. To find the best car loan for bad credit is easy, just apply for a car loan now. In a few clicks, you will get the loan needed to purchase the vehicle.

Why choose a car loan?

The assignment of the car loan is closely linked to the purchase of your vehicle, whether used or new. With a credit specially dedicated to this acquisition, you are covered in the following cases:

  • The car is not delivered. Your car credit is automatically canceled.
  • You do not get your car loan. If the bank refuses to release the funds to finance your car, then the contract of sale is considered null and void.
  • You do not receive the car. The refund of your car loan does not start until you have your car.

How to find the best rate for your cheap car loan?

Does your project require the acquisition of a car, new or used? A cheap car loan allows you to easily finance the purchase of your new car. However, not all vehicle loan agencies offer the same conditions. The rate of the car loan, but also its total cost and the amount of the monthly payments can strongly vary according to the lender. To choose the most suitable car credit for your needs, consider the following:

  • Your personal contribution. This sum can have a down payment value when you subscribe to your car loan. The amount of your loan will then be less important.
  • The overall effective rate (TEG). This is the actual cost of the car loan. If you want to get a cheap car loan it is the TEG that must be studied. This annual percentage includes the costs related to the credit such as interest, insurance premiums or the fees.
  • The duration. This is the period during which you will have to repay your credit. It is expressed in years or months. Note: the duration of your loan is a criterion not to be neglected. It determines the calculation of the number of monthly payments.
  • Insurance. Even if the law does not require insurance for car loans, the insurance borrower is useful in case of a hazard that prevents you from paying your payments.

With Eliza Doolittle, you can perform auto credit simulations with multiple organizations, banks, and insurance companies all at once and easily compare loan offers to find the best auto loan rate.

The best auto credit rates 2018?

2018 rate for a € 15,000 car loan over 12 months:

 TAEG minAverage TAEGTAEG max
New car credit0.90%1.98%4.85%
Used car loan0.90%1.98%4.85%

* Indicative rates, without contractual value.

The best 2018 credit for a new car loan of € 15,000 over 12 months should offer an APR rate of about 0.90%.

Example of a car loan simulation in 2018

Example of a car loan simulation in 2018

As an example, for a new car credit of 15,000 euros, the duration of the loan is 12 months. The profile will be a single man 38 years old, without children, executive in the private sector with a remuneration of between 3000 and 5000 euros. Tenant in the 15th arrondissement of Paris of an apartment whose rent is 800 euros.

The best offer of our partners according to the profile is from 0,90% of APR or 12 monthly payments of 1,256 euros. The interest will be 73 euros with fees offered.

How to subscribe to a car loan online?

To obtain a car loan at the best rate, the easiest way is to take out an online credit. No need to move:

Enter the necessary information so that the lending organizations can prepare an estimate: type of vehicle, amount of car loan, desired monthly payments, repayment period, professional situation, information about your bank …

Once the car loan has been chosen, you must provide the credit institution with supporting documents in order to finalize the contract: identity document, statement of account, tax notice …

With our online car credit comparator, you can find the cheapest loan offer to buy your car and we also offer simulation tools to know the rate of your car loan.