Much faster to set up than a conventional consumer credit, auto credit follows a simple process, but must be respected. Preparing the various stages of its validation well allows you to obtain the necessary financing very quickly, and to drive quickly in your new vehicle.
Auto credit is what is called earmarked credit : at the signing, the product acquired through financing is clearly identified in the contract. This implies having determined the desired vehicle when requesting a loan offer.
Establish the make, model, engine, and options if you are buying a new vehicle. If you are looking at a used vehicle, collect the main technical data of the latter to quickly advance towards the purchase.
Prepare the loan dossier
Once the sales contract has been drawn up, prepare all the supporting documents necessary for the constitution of the car loan. Your file must include:
- proof of identity ( identity card, passport, etc.);
- proof of address (receipt of rent, water, telephone bill, etc.);
- a bank account statement;
- a photocopy of the last 3 payslips.
The last tax assessment notice is sometimes added to this list. Attach the invoice drawn up with the seller (or the sales letter in the case of a transaction between individuals), which must include the precise amount to which the vehicle will be transferred.
Online banks, branch offices, or dealer financing organizations: it’s time to solicit offers! To obtain the most advantageous loan possible, we recommend our online car credit simulation tool, which allows you to perform this operation in a few clicks, to quickly determine the best car credit rate.
To better compare your loan offers, choose the APR (Annual Effective Annual Rate) at the nominal rate, because it includes all ancillary costs (such as application fees, or contributions).
Sign the loan
Once the best car loan has been selected, all you have to do is return the validated and signed prior offer to the lending organization. You can release the funds immediately, or benefit from a withdrawal period of 15 days in the event of a vehicle awaiting delivery. If one of the parties breaks the sales contract, the loan is immediately considered canceled thanks to Lite lender company.