New car loan
How to find the best credit to finance a new car?
Several solutions are available to you if you have chosen to buy a new car: affected credit, personal loan, balloon credit or even LOA (Rental with Purchase Option). We can also add long-term rental which is a kind of financing but without becoming an owner at the end of the loan.
Example for a loan of 15,000 us dollars for a new car over 60 months
To help you make the right choice, we have compared the cost of credit, that is, what you will actually pay!
Credit simulation for the purchase of a New Car $ 15,000 over 60 months | ||||||
| # | Etab. | Mens. | Cost of credit | |||
|---|---|---|---|---|---|---|
| 1 |  | $ 271.20 | $ 1272.00 | |||
| For a loan of 15,000 us dollars, you reimburse 60 monthly payments of $ 271.20 (excluding insurance), for a total cost of $ 1,272.00. No administration fees. APR from 3.39%. | ||||||
| Make your own simulation or request online on Paydaynow . It's simple, fast, without obligation, and also suitable for mobile. | ||||||
| 2 |  | $ 271.20 | $ 1272.00 | |||
| For a loan of 15,000 us dollars, you reimburse 60 monthly payments of $ 271.20 (excluding insurance), for a total cost of $ 1,272.00. No administration fees. APR from 3.39%. | ||||||
| Make your own simulation or request online on Cofinoga . It's simple, fast, without obligation, and also suitable for mobile. | ||||||
| 3 |  | $ 272.31 | $ 1388.60 | |||
| For a loan of 15,000 us dollars, you repay 60 monthly payments of $ 272.31 (excluding insurance), for a total cost of $ 1388.60. No administration fees. APR from 3.42%. | ||||||
| Make your own simulation or online application on Younited credit . It's simple, fast, without obligation, and also suitable for mobile. | ||||||
| 4 |  | $ 283.41 | 2004.41 $ | |||
| For a loan of 15,000 us dollars, you repay 60 monthly installments of $ 283.41 (excluding insurance), for a total cost of $ 2004.41. No administration fees. APR from 5.14%. | ||||||
| Make your own simulation or request online at Paydaychampion . It's simple, fast, without obligation, and also suitable for mobile. | ||||||
| 5 |  | $ 283.49 | $ 2009.40 | |||
| For a loan of 15,000 us dollars, you reimburse 60 monthly payments of $ 283.49 (excluding insurance), for a total cost of $ 2009.40. No administration fees. APR from 5.18%. | ||||||
| Make your own simulation or request online on FLOA bank . It's simple, fast, without obligation, and also suitable for mobile. | ||||||
* Subject to acceptance by the lender - Update: 11/01/20
(*) The results and rankings presented on rkenneylaw.com are based on a selection of financial companies based on the following criteria: the APR, the duration, the amount borrowed and the purpose of the loan. All the companies presented are recognized by the entire profession and are part of the ASF (Association Française des Sociétés Financières). The rankings made on the basis of the total cost are given for information only and do not in any way constitute a contractual commitment. We urge you to carry out a simulation in all cases before applying for credit.
(**) The rates presented (fixed APR) correspond to the applicable minimum rates and are indicative. They are likely to change after the in-depth analysis of your request
Example for a loan of 25,000 us dollars for a new car over 60 months
Credit simulation for the purchase of a New Car $ 25,000 over 60 months | ||||||
| # | Etab. | Mens. | Cost of credit | |||
|---|---|---|---|---|---|---|
| 1 | | $ 452.00 | $ 2120.00 | |||
| For a loan of 25,000 us dollars, you repay 60 monthly payments of $ 452.00 (excluding insurance), for a total cost of $ 2120.00. No administration fees. APR from 3.30%. | ||||||
| Make your own simulation or request online on Paydaynow . It's simple, fast, without obligation, and adapted to mobile devices. | ||||||
| 2 | | $ 452.00 | $ 2120.00 | |||
| For a loan of 25,000 us dollars, you repay 60 monthly payments of $ 452.00 (excluding insurance), for a total cost of $ 2120.00. No administration fees. APR from 3.30%. | ||||||
| Make your own simulation or request online on Cofinoga . It's simple, fast, without obligation, and adapted to mobile devices. | ||||||
| 3 | | $ 453.85 | $ 2231.00 | |||
| For a loan of 25,000 us dollars, you repay 60 monthly installments of 453.85 $ (excluding insurance), for a total cost of 2231.00 $. No administration fees. APR from 3.42%. | ||||||
| Make your own simulation or online application on Younited credit . It's simple, fast, without obligation, and adapted to mobile devices. | ||||||
| 4 | | $ 472.35 | $ 3340.90 | |||
| For a loan of 25,000 us dollars, you reimburse 60 monthly payments of $ 472.35 (excluding insurance), for a total cost of $ 3340.90. No administration fees. APR from 5.14%. | ||||||
| Make your own simulation or request online at Paydaychampion . It's simple, fast, without obligation, and adapted to mobile devices. | ||||||
| 5 | | $ 472.48 | $ 3348.80 | |||
| For a loan of 25,000 us dollars, you repay 60 monthly payments of $ 472.48 (excluding insurance), for a total cost of $ 3348.80. No administration fees. APR from 5.18%. | ||||||
| Make your own simulation or request online on FLOA bank . It's simple, fast, without obligation, and adapted to mobile devices. | ||||||
* Subject to acceptance by the lender - Update: 11/01/20
(*) The results and rankings presented on rkenneylaw.com are based on a selection of financial companies based on the following criteria: the APR, the duration, the amount borrowed and the purpose of the loan. All the companies presented are recognized by the entire profession and are part of the ASF (Association Française des Sociétés Financières). The rankings made on the basis of the total cost are given for information only and do not in any way constitute a contractual commitment. We urge you to carry out a simulation in all cases before applying for credit.
(**) The rates presented (fixed APR) correspond to the applicable minimum rates and are indicative. They are likely to change after the in-depth analysis of your request
Personal loan or consumer credit
Personal loans are offered by credit institutions and banks. This is usually where you will find the cheapest credit rates. The sale is not linked to credit and you can even borrow more than the amount of the car. In order to present it more simply to the consumer, it is often called a car loan, but it is a personal loan and therefore cannot really be allocated to a purchase.
Advantage : generally lower rates, a loan that can finance several elements together, purchase of a new or used car, the possibility of buying your car in France or abroad by an agent, the fact of be the owner of the vehicle (and not the renter).
Disadvantage : It is desirable to obtain a financing agreement before ordering the car.
Auto credit or affected credit
An assigned credit is only available at the dealership that sells the vehicle to you. The credit and the reception of the vehicle are linked, that is to say that: - if the car cannot be delivered the credit is canceled - if the credit is refused the order is canceled.
Advantage : if you can't get your credit then you don't have to take the car.
Disadvantage : the rates are generally more expensive than in specialized establishments or banks because in most cases the dealer receives a commission on the loan which is passed on to the loan rate ...
Rental with option to purchase (lease, leasing, etc.)
As its name suggests, you rent your vehicle for the duration of the financing. By paying a purchase option, you do not become the owner until the end of the period (generally 48 or 60 months).
Advantage : Leasing is more attractive for the purchase of a professional vehicle or for a liberal profession, the tax and accounting advantages do not bring anything to an individual.
Disadvantage : the credit rate does not appear (which is normal is a rental) and it is more annoying for an individual who can hardly compare.
Long Term Rental (LDD)
A fairly complicated formula since you must first determine the mileage you will do during the rental period. In addition, you must choose the services you want to benefit from such as insurance, maintenance, tire change ... The dealer then indicates the monthly payments which include all your options ... At the end of the period you must return a vehicle good condition, not damaged, and with the mileage planned in advance ...
Advantage : if you take all the options you have nothing to manage in the event of a problem (puncture, breakdown, etc.)
Disadvantage : impossible to know the cost of the credit because the monthly payment mixes both rental, insurance and all the options you have chosen ... You are a tenant and you have nothing left at the end of the rental period since you return the vehicle. You paid only to use a means of transport.
The car market in France in 2015.
The share of diesel has fallen further and now represents 57% of new registrations followed by gasoline (38.6%), hybrid (3.2%) and electric (0.9%) models. On average, the price of a new car is 22,000 us dollars in France. Registrations of passenger cars increased by 6.8% compared to 2014. Overall, French manufacturers increased their sales by 3.9%: - PSA Peugeot Citroën DS + 2.9% - Renault Dacia + 6.3% In terms of market share, the French represent 54.2% of sales in 2015 including 20% for Renault, 17.1% for Peugeot, 10.5% for Citroën, 5.1% for Dacia and finally 1.6% for DS.
| Number of units sold | Market share | CCFA figures: Committee of French Automobile Manufacturers |
|---|---|---|
| Renault Clio IV | 108,408 | 5.7% |
| Peugeot 208 | 90 367 | 4.7% |
| Renault Captur | 72,191 | 3.8% |
| Peugeot 2008 | 63 204 | 3.3% |
| Citroën C3 II | 56,382 | 2.9% |
| Renault Scenic III | 46,662 | 2.4% |
| Renault Twingo III | 45,328 | 2.4% |
| Dacia Sandero | 45,264 | 2.4% |
| Citroën C4 II Picasso | 44 608 | 2.3% |
News
The car market on the rise in May 2017: 191,419 registrations
Registrations in France increased by 8.9% last month compared to May 2016, according to figures published by the CCFA (Committee of French Manufacturers of Automobiles). Overall, over the first 5 months of the year, the increase is ... (read more)
New car comparison
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Vehicle financing
Car credit questions
For the purchase of your vehicle, we advise you to contact a credit institution or a bank: they are the ones who generally offer the best rates. This should not prevent you from doing simulations and comparing ...
Check your repayment capacity before you commit.
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