Car loan comparison

May 5, 2019 0 Comment

What is an auto credit comparator?

Just as it is possible to compare the prices of airline tickets, insurance or phone packages, some sites, such as Perry, offer consumers to compare offers of auto credit. The principle: to list the offers of several auto credit agencies, so that consumers can put them in front of each other and have a panorama of the market.

The benefits of auto credit comparison

Using an online auto loan comparator is the ideal solution to find a cheap car loan that fits your needs. With an auto credit simulator, you save both time and money.

Saving time

Saving time

By comparing online car loans, you avoid moving to an agency or going one by one to find the price terms of each credit institution that might interest you. The auto credit comparators offer you a dematerialized service, accessible at any time and which lists at the same place a set of offers. It will only take a few minutes to fill in the information to access your quote page. Guaranteed time saving!

Saving money

Saving money

A car loan comparator like Perry allows you to compete a set of offers and evaluate them against each other. Thus, you can easily find the most competitive for you, that is to say the one that has the most advantageous conditions (rate, duration, monthly payments…), and save money!

How does an auto credit comparator work?

auto credit

The functioning of the online auto credit comparator is simple and works in two steps: you first fill in some information about your project and your profile, then you go to a quote page that shows you the car loan offers available.

Fill in the form

To use an auto credit comparator, you must first fill out some simple information about your car purchase project and your profile. You will have to inform:

  • Type of car you intend to buy: new or used car, used car less than or over 2 years…;
  • The make, the model, the motorization of the car;
  • The amount of the car loan;
  • The desired duration or the amount of monthly payments desired;
  • Your family situation (married, cohabiting, single, divorced…);
  • Your professional situation (professions, income, type of contract, seniority…);
  • Your banking situation
  • Your current credits if you have them, especially to calculate your debt ratio.

Auto credit simulation

Auto credit simulation

Once this information is filled in, you quickly access a quote page, which shows you the credit offers you may be interested in and their conditions. Thus, all you have to do is compare a set of items such as APR (annual percentage rate) of the car loan, its total cost, the amount of the fees, the possibility of an early repayment a modulation of the monthly payments or a delay of Perry Monument.

Things to Compare to Find the Best Auto Loan

Things to Compare to Find the Best Auto Loan

To subscribe to the best car loan, it is interesting to compare offers by analyzing the following points:

  • The APR, or annual percentage rate of charge: this is the interest rate proposed by the credit institution, including additional costs;
  • The lending rate : this is the interest rate proposed by the lending institution, excluding ancillary costs;
  • The duration of the loan : the longer it is, the lower the monthly payments, but the higher the APR will be;
  • Personal contribution : it determines the amount of capital to borrow based on available cash funds for the purchase of a vehicle;

Most credit organizations also offer optional insurance under the auto loan, called borrower insurance. It is recommended to also compare the insurance borrower to find the most advantageous.