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You are preparing your purchase and you want to determine your budget for the acquisition of your car. Note that the purchase of a vehicle is done more than half of the time thanks to financing.
Our first advice is to be vigilant about the monthly payment that you can repay every month. If you combine this monthly payment with your rent (or mortgage repayment) and other monthly payment payments if you already have one, it should not exceed 35% to 40% of your income. It is the debt ratio. For your car loan simulation, it will, therefore, be necessary to extend the repayment period to obtain a reasonable debt ratio. We even made a specific article on cars at 100 USD per month, to help our customers understand how it was possible to get car loan simulations that are not scams like LOA or LLD and that allow small budgets to buy a car.
To offer you the ranking of the best rates suited to your car loan simulation, we regularly record all the offers from the largest credit organizations, for all durations and all amounts and we return the 3 cheapest proposals to you at the end. a questionnaire that allows you to personalize the answer and increase the chances of obtaining the best rate.
Our questionnaire allows you to multiply the chances of obtaining the best rate because, at the end of your entry, you will get the ranking of the 3 cheapest offers for your car loan simulation. You can ask the 3 credit agencies that offer these offers to find out if they are ready to accept you. We advise our customers to always file at least 2 requests so as not to be left with nothing if they are not accepted for the cheapest car loan.
Car credit simulation: get the best rate
Obtaining the ranking of the best rates for your car loan simulation is good, but it is better to know if an organization is actually ready to lend you at such a rate. And above all, this offer is essential if you want to negotiate with your mechanic or with your banker.
We have therefore implemented a system that automatically obtains an evaluation by the organization that offers the lowest rate for your car credit simulation. This evaluation will be sent to you by email. Thanks to this, you will know the position of the organization which offers the cheapest credit on your file and you will, therefore, know if it is also necessary to file a request with organizations classified 2nd and 3rd.
Car loan simulation: negotiation advice
As we have just seen, to get the best credit online, you just need to use our car loan simulation. But if you want to negotiate with your banker or garage owner, it’s another matter.
Note that in general, banks or loans offered by dealers are much more expensive than those offered by specialized organizations. But concerning the banks, for their top best customers or for the dealers, they happen once in the year to make big promotions on the credit.
To ensure you get the best rate, we advise you to make a car loan simulation until the end of our site and to question the cheapest organizations in order to obtain a formal proposal. This will become the bargaining chip that you can show to your banker or garage owner. Either they can make you a better offer or they can’t, in any case, you end up with the best rate.
We also specify that you do not find the credit of the banks in our car credit simulation because on the one hand the banks generally do not have good credit rates, they are not specialists. But the problem with banks is that they reserve their best rates only for their best and old customers. So these rates are reserved for a very small number. So we cannot integrate them into our car loan simulation, that would be lying to the vast majority of customers. This is why we advise you to first obtain the best offer on our site and to try to go to negotiate then if you think that your banker has a lot of consideration for you and your bank account.
Car loan simulation: save on your car loan
To give you an idea of the savings you can make thanks to our car loan simulation, we will give you a representative example of the loans generally requested.
First of all, note that our comparator is based on the APR rate. This is the rate defined by consumer credit law as the reference rate. It must systematically be communicated by the organizations and this rate includes all the costs that credit may contain.
For our example, let’s take credit of 10,000 USD for a car loan over 72 months. One of the most requested credits to finance an automobile.
Best rate: 5.30% monthly payment: 161.86 USD cost of credit: 1653.92 USD
Most expensive rate: 8.10% monthly payment: 174.43 USD cost of credit: 2,558.96 USD
There is therefore almost 1000 USD difference for exactly the same credit !! You could pay 1000 USD more for exactly the same thing without going through a car loan simulation at the best rate!
And the most expensive rate is offered by one of the best-known credit agencies. But they all regularly change their rates to multiply commercial actions. If you want to avoid the pitfalls of credit marketing devices we recommend our article on 12-month credit.
Capital lender, the best car loan simulation
We have been noticed by Autoplus as a comparator different from what we can find on the internet. We are the only ones to have a car credit simulation which is based only on the rate. Thanks to the Capital lender, you are sure to find the best car loan.
Moreover, as our article on car loan rates points out, thousands of USD of difference exist between the cheapest rate and the most expensive credit. We do not have a privileged partner and we work as well with well-known organizations as Best bank as with more specialized like Astro Finance.
Wanting to perform a car loan simulation is essential to avoid being scammed but it is not enough, check that you are getting a comparison based on the best fixed APR rate which is the benchmark for car loan simulation.