The Bank car loan allows you to finance any new or used vehicle (motorbike, motorhome, etc.). This personal car / motorcycle loan can be obtained with or without proof, the rate being slightly more advantageous when an order form is presented. Let us detail the conditions of the car loan from the Auchan group subsidiary. We can then compare the APR rates offered with those of other major credit organizations.
The Bank car loan is a loan used to finance any new or used vehicle. We can indeed apply for it as a motorhome loan, or to finance a new motorcycle. Financing can be obtained at more advantageous rates by providing an order form, provided that it covers at least 70% of the amount requested.
* The Bank auto credit voucher is an order form provided by a professional or agent. It must cover at least 70% of the amount requested to be accepted by the organization.
Let’s use our credit comparison tool to place the best new auto credit rates online next to those offered by Bank. Remember that you must always provide proof of purchase (purchase order) of the vehicle to benefit from the new car loan. Our simulation is carried out on a new car loan of $ 15,000 over 72 months.
|Personal loan simulation $ 15,000 over 60 months||Fixed APR rate||Monthly fees||Total cost of credit|
|Bank Bank offer||3.90%||233.53 $||1814.16 $|
|Best organization in our Bank comparator||3.30%||229.59 $||2393.00 $$|
|Average of the rates found on our comparator||5.12%||241.57 $||2393.00 $$|
The rate of Bank car credit for a new car of $ 15,000 to be reimbursed in 72 monthly payments is roughly the same as that of the best credit institution in our comparator. You could say that Bank auto credit, without being the best, is very competitive. The observation was the same during our different simulations over several amounts and durations. Among other online auto credit specialists, we can cite the Astro Finance, bankate, Viloan auto loan or even the Franfinance auto loan.
Online car loan formulas are more generally more attractive than those offered by dealers, conventional banks or insurers. Above all, you must have significant financial guarantees to hope to benefit from an attractive rate with your bank or car dealership. The best way to get good auto credit is to get a good first response online. The APR rate indicated on the credit offer represents an ideal basis for comparison.
You should also be wary of financing solutions via LOA. Renting with an option to buy is very attractive on paper, but the addition is generally salty at the time of the accounts. A classic car loan is on average cheaper than financing obtained in LOA.
The used Bank car loan corresponds to a loan without proof of purchase of the classic personal loan type. The rates of used car loan posted by Bank are effectively identical to those of an all projects loan formula.
The used car loan, without proof, is perfectly suited to finance a car or motorcycle sold by an individual. Most used vehicles are sold between individuals. The rates of second-hand car loans are slightly less attractive than in the case of a car loan with proof. Again, our various simulations have placed the used Bank auto credit at a good level.
* A customer is a person who already has an Bank credit contract, whether or not it is linked to a credit card.
It must be recognized that Bank communicates transparently on the list of supporting documents requested to obtain a credit for car or motorcycle. Here are the documents you need to gather to complete your car credit report: