To more easily find a car loan, you can now go through an online simulation tool. Available for free to internet users, the comparator acts like a virtual calculator which will take into account different data to calculate your loan.
Thus, from the desired amount and the duration of repayment that you will have indicated on the site to launch the search for financing adapted to your needs, you will obtain quotes which do not commit you to anything at this stage of the procedure. Everything you need to know to successfully complete the online car loan simulation.
How does an online car loan simulation work?
To carry out an online car loan simulation, first connect to the internet and access an online simulation or comparison site. From the reception, you have the necessary links that you will click to confirm the purpose of the loan, which is here new or used car financing.
Then, you will choose an amount less than 75,000 USD, before indicating the number of monthly payments you want. After sending the request, you will immediately receive a summary of the car loan simulation, reminding you of the loan amount, the cost of the monthly payment, the repayment period, the fixed debit rate, the APR or the fixed annual effective rate and the total amount due in connection with this loan.
Simulate to reduce the cost of a car loan
Because car credit is a financial commitment which will require you to pay interest and funds borrowed during a predefined period, it is important to take the time to compare the many proposals from Belgian establishments to find the best offer.
To do this, research online using the same amounts and durations to get an idea of the differences between offers from banks and credit institutions.
And above all, do not forget to refer to the APR, this value which must appear on each consumer credit advertising offer and which already takes into account the nominal interest rate, application fees and related costs.