Auto financing is a depreciable credit allowing you to borrow up to 100,000 euros to fully finance the new or used car of your dreams.
You hesitate between buying a new vehicle or a used one? Discover the difference in the credit rate!
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Did you know that the age of the vehicle when it was purchased has a significant impact on the car loan rate?
When we decide to buy a car, several decisions require reflection. First, choose a new or used car? It is important to weigh the pros and cons according to your budget and your needs. If you do not drive a lot and you have a small budget, it may be worth thinking about buying an opportunity. Be careful to ensure that the quality / price ratio is correct in relation to the age and the state of wear of the car (the number of kilometers, possible claws, the state of its parts …). On the other hand, buying a new car is a longer term investment and safer.
Unlike insurance, the cost of a car loan is lower for a new car. At Jean Des Esseintes, if you buy a new car or less than two years old, the Fixed Annual Effective Rate (APR) varies around 1.99%. It varies because the amount of the car loan and the repayment period are taken into account. For cars 3 years old or older, the interest rate fluctuates according to the age of the vehicle. The older the vehicle, the higher the rate will be.
To know the price of your car financing, make a simulation on our site!
How to choose between car financing and leasing?
Do you want to buy a new car and are looking for the most interesting formula financially? You have obviously thought about applying for auto credit, but you have also heard about leasing … To be able to choose, you have to compare the possibilities.
Auto credit is open to everyone provided that you provide various proofs. Indeed, the auto loan is an assigned credit, which means that this money can only be used for that purpose. You must therefore provide proof of purchase; an invoice or a purchase order. Other documents to provide; a copy of your identity card and proof of income. Auto financing is valid both for the purchase of a new vehicle and a used vehicle. In any case, it is the credit agency, like Jean Des Esseintes, that will decide whether or not your credit application will be accepted.
As for auto financing, you have to pay every month a certain amount of money. However, the owner of the car is not you. It’s the leasing company. This is a kind of long-term vehicle rental. When the lease agreement ends, you have the option to buy the car. It is not obligatory, but advantageous in price. Unlike car loans, leasing is primarily open to professionals and companies.
If you want to own your vehicle, if you are an individual or if you want to invest and not rent, opt for auto financing!