The auto loan
What is the auto loan?
The auto loan, also called car loan, is a payment solution used to finance the purchase of a vehicle, whether new or used. It is part of the category of consumer credits. But since the auto loan is exclusively reserved for financing a vehicle, it is a specific consumer credit: an affected loan. However, another category of auto loan can be offered by financial organizations, the personal auto loan.
- The affected car loan
The affected loan consists, for the financial organization called the lender, in granting the borrower a sum of money specifically intended to finance the purchase of a particular property. This means that to be legally valid, the credit must only be used to finance specifically and exclusively the property for which it was concluded. It will then not be possible for the borrower to buy a property other than the property mentioned in the contract which grants him the credit. Thus, for the auto loan, the borrower can only buy one vehicle, to the exclusion of any other type of property. If the borrower then buys something other than a vehicle, the credit he has just concluded will not be valid. As a result, the borrower will no longer be able to benefit from the payment facilities offered by the auto loan.
Although the auto loan is used in particular to finance the purchase of a car, the concept of vehicle is not restricted to that of automobile, car. Indeed, with a car loan it is possible to finance the purchase of a motorbike, a scooter, a boat, a caravan, a motorhome etc.… It is called a car loan by convenience because in most cases people use it to buy a car. In addition, the condition of the vehicle does not matter for the auto loan. Thus, the borrower can just as easily use an auto loan to finance the purchase of a new vehicle as a used vehicle.
- The personal car loan
The personal loan consists for the financial organization to grant the borrower a sum of money without the latter having to justify the good that he will then buy. The borrower can therefore buy his vehicle as well as additional equipment or his registration card for example. The borrower is free to use his personal auto loan as he sees fit.
Whatever its form, the auto loan falls under the category of consumer credit. The auto loan is then subject to the same limits as those for consumer credit. This means that the maximum amount that can be given to finance the purchase of a vehicle is US $ 75,000. Likewise, the auto loan must also provide for a repayment period of at least 3 months.
Once the auto loan is concluded, the borrower will have to repay each month, in the form of monthly installments, a part of the borrowed sum, called “capital”, and interest. To obtain the total cost of the loan, it suffices to add the price of the insurance to the interest and related costs.
Whether it is an affected auto loan or a personal auto loan, as soon as the loan contract is concluded, the borrower knows the schedule of his repayments. That is to say that the borrower knows both the amount of the monthly payments to be repaid, the repayment period (the number of monthly payments) and the cost of the credit (interest + ancillary costs).
It is also possible to give up using the borrowed capital and therefore not to buy the desired vehicle after having taken out an auto loan. The law protects the borrower in this case. There is for this purpose a period of 14 calendar days during which, after the signing of the loan offer, the borrower may not follow up on the loan offer by not buying the vehicle previously desired. This period is called the withdrawal period. To benefit from it, the borrower just needs to send the lender a registered letter indicating that he wishes to withdraw from the loan offer made a few days previously. Most often, a withdrawal form is attached to the loan agreement. The borrower then simply fills it out and returns it to the lender.
The components of the car loan
The auto loan is made up of the same elements as the consumer credit since it is a specific consumer credit.
The capital corresponds to the sum requested by the borrower when he wants to subscribe to a loan. The capital, as well as the interest and the repayment period, make it possible to know the amount of the monthly payments to be repaid.
Interest is expressed by the borrowing rate in%. This is the part of the interest payable on the capital that accrues to the lending financial institution. The interest he receives then constitutes part of his remuneration.
More generally, the interests are grouped together within an annual percentage rate (APR) expressed in%. This APR also contains other ancillary costs, such as administrative costs, excluding insurance costs. You should be wary of the APR because this rate can be fixed, variable or revisable. The amount of the APR represents what is called the cost of credit.
Regarding the duration of the auto loan, it is generally expressed in months or years. There is no legal maximum repayment period. In practice, the repayment periods are generally between 12 months and 84 months (from 1 year to 7 years). The duration makes it possible to calculate the amount of monthly payments and has an impact on the amount of these and on the cost of credit. The longer the repayment term, the lower the monthly payments will be. In return, the interest will be higher, which increases the cost of credit. Conversely, the shorter the repayment period, the larger the monthly payments. On the other hand, interest will be lower and the cost of credit will only be lower.
The monthly payments of an auto loan correspond to the sum that the borrower will have to repay every month with the financial institution which granted him his credit. These monthly payments are calculated according to the capital borrowed, the repayment period and the value of the APR, including interest. To these elements, can be added the amount of insurance if the borrower decides to subscribe to it. Thus, a monthly payment is generally broken down into 3 elements: the part relating to the amount of capital repaid, that corresponding to the part of the interest paid to the lender and that relating to the part of the insurance.
Finally, an auto loan can also include insurance. This is not compulsory. It allows the lender to guarantee the repayment of the auto loan by covering the risks related to the death of the borrower, disability, incapacity for work, or loss of employment. It all depends on the insurance to which the borrower will subscribe. In the event of significant health problems, it is possible to benefit from the AERAS agreement (Insure and Borrow with an Aggravated Health Risk). The amount of insurance will then be higher but it will be possible to benefit from the advantages of the insurance. Insurance is usually offered by the institution offering the credit. The insurer is free to choose the establishment of his choice to insure himself. However, the institution granting the credit strongly encourages the borrower to subscribe to the insurance presented by his institution. The cost of insurance, added to the APR (cost of credit) make up the total cost of credit.
Warning: If you decide not to opt for insurance, banks or credit institutions may refuse to lend you the amount you request. It then appears wiser to take out insurance. You never know what life has in store for you!
What are the conditions for obtaining a loan?
In order to be able to take out an auto loan, several conditions must be met. First of all, you must of course be of legal age. Indeed, a minor child under 18 cannot validly conclude a credit and therefore by extension, a car loan.
Then the future borrower must not be registered on the national file of incidents of repayment of loans to individuals (FICP). As soon as a person who has taken out a loan no longer reimburses their monthly payments, they will be declared as a payment incident and will be recorded in this file. This file was set up to prevent an indebted person, who can no longer repay their loans, from taking out a loan again. Thus, the absence of recording on this file will reassure the financial institution to lend the sum which is requested of it.
Before taking out an auto loan, you must also check your ability to repay future monthly payments. This condition has the same objective as the previous one: to reassure the lender. Indeed, the absence of registration in the FICP does not guarantee the lending financial institution that the future borrower will be able to repay future monthly payments. A person may indeed not be registered with the FICP and not be able to repay his future monthly payments if he has requested to borrow an amount of money that is too high in relation to his repayment capacities. To know its repayment capacity, it is enough to make a table, or a list, of all the receipts and expenses during a month. While providing for a certain amount of money to be allocated in the event of the unforeseen, the difference between income and expenditure constitutes the repayment capacity. The resulting positive balance amount indicates how much can be repaid per month. It is this amount that corresponds to the repayment capacity.
In addition to the repayment capacity, care must be taken not to exceed a certain debt threshold. This debt threshold is called the “debt ratio”. It is set at 30% of the income of the future borrower. It corresponds to the ratio between all the financial charges relating to loans and the monthly income received.
For example: a single person with an income of US $ 2,000 per month may take out one or more loans until the total monthly payments he / she repays reaches US $ 600 per month. 600/2000 x 100 = 30%. Thus, a single person receiving 2,000 US dollars per month of income and having no other credit in repayment can take out an auto loan with a monthly payment of up to 600 US dollars per month at most.
Warning: do not forget to check both the repayment capacity and the debt ratio! A loan commits the borrower and must be repaid. It therefore appears essential that the borrower be able to repay his monthly payments, given his repayment capacity and his debt ratio.
Thus, if the repayment capacity is good and that with the car loan, the debt ratio does not exceed 30%, there should be no reason for the financial institution to refuse to grant you the car loan.
Finally, when you go to a financial institution for the granting of a loan, it must give you a pre-contractual information sheet containing all the information concerning the envisaged credit. Thus, with regard to the auto loan, the borrowed capital will be mentioned as well as the duration of the loan and the number of monthly payments, the amount of interest and the APR. All the information contained in this sheet is valuable. Since it contains all the characteristics of the envisaged credit, this sheet then appears to be a very practical tool for comparing the different loan offers from different financial institutions. It is therefore essential to play the competition in order to find the credit that will be the most advantageous for you. Indeed, all do not offer the same interest rates and APRs and some impose limits lower than the maximum of US $ 75,000.
What is the difference between a new and used car loan?
There aren't really any fundamental differences between the new car auto loan and the used car auto loan. The only differences are mainly due to the amount borrowed and the repayment period, and therefore the amount of monthly payments.
For two cars of the same model and brand, the new car will cost more to purchase than the same car but in a used version. Therefore, a higher amount will have to be paid for a new car than for a used car. As a result, the loan amount that will be granted will be higher for a new car than for a used one.
In addition, with the same repayment term, the used car auto loan is more advantageous. Indeed, since a used car costs less to purchase than a new car, the amount of monthly payments to be repaid will be lower than for a car loan for a new car.
Finally, regardless of the condition of the car (new or used), the amount of APR and interest are generally the same.
The only real difference may be the type of credit taken out. Indeed, although the auto loan is originally an affected loan, credit institutions now increasingly offer a personal loan as an auto loan. The differences can then relate in particular to the APR (cost of credit) and therefore to the amount of interest to be reimbursed. It may be that for a car loan for used car, some financial institutions offer an amount of APR much higher than what they offer for a car loan for new car. This is particularly the case when the auto loan in question is a personal loan and not an affected loan.
What are the advantages and disadvantages?
The advantages and disadvantages of the auto loan depend on the type of loan that will be granted.
- Affected loan
Regarding the affected auto loan, it is only contracted for the purpose of acquiring a vehicle, usually a car. The borrower is therefore bound by the nature of the good he must buy: a vehicle. He will not be able to buy another type of good. The granting of credit is linked to the purchase of a vehicle and vice versa. We are talking about interdependent contracts. This means that this category of auto loan is then accompanied by an important constraint: the purchase of the vehicle and the granting of credit are closely linked. This link between the granting of the auto loan and the purchase of a car has the consequence of nullifying one of the two acts if the other does not or cannot occur. In other words, the non-realization of one automatically cancels the other.
For example, once the auto loan has been concluded and the car purchased, if it is not delivered to the borrower, then the auto loan is canceled as a result. It is the same if the sale does not take place. In addition, if the borrower has just bought a car and he does not manage to obtain the auto loan necessary for its financing, then the contract of sale of the car is canceled, then considered null and void.
However, despite this fairly significant drawback, the affected auto loan has a significant advantage over the personal loan. Indeed, with an affected loan, the repayment of the credit does not begin until the car has been delivered. The repayment cannot be made until the borrower has received the car he has purchased. Thus the payment of the first monthly payments may be deferred by a few weeks or even months. This has a considerable advantage if the vehicle is delivered late.
In addition, with this type of auto loan, no final payment can be required before the signing of the prior credit offer and before the expiration of the withdrawal period following the conclusion of the credit contract. This means that if you plan to take out an auto loan assigned to buy a car, the payment of the price of the car can only take place once the loan contract has been definitively concluded, that is to say after the deadline. 14 day withdrawal has elapsed. This protection offered to the consumer in article L312-52 of the Consumer Code differs somewhat if the buyer has requested immediate delivery of the car. In this case, the withdrawal period is extended to 3 days. The buyer must then renounce his affected car loan within 3 days of its conclusion so that the contract for the sale of the car is also automatically canceled.
Finally, it is important to mention, on the vehicle order form, that the purchase is conditional on obtaining the credit that you are requesting.
To conclude on its advantages and disadvantages, we can say that this type of auto loan is not very flexible due to the compulsory purchase of a vehicle. However, it offers more security to the borrower. In fact, there is no need to repay this loan if the car has not been purchased or if the borrower has decided to renounce the loan.
- Personal loan
Credit institutions and banks also offer another type of auto loan: the personal loan, also called by these establishments the personal auto loan.
Unlike affected credit, the personal loan is free to use. This is granted without justification of its use. It can then be used to finance the purchase of a new car, as well as other miscellaneous equipment.
However, this freedom of use is counterbalanced by conditions for granting the loan which are generally less favorable to the borrower than those of an affected loan. In this case, the interest rates are generally higher than those of the affected loans. The same is true of the APR. Thus, the personal auto loan is often more expensive than a classic (affected) auto loan.
In addition, this type of loan does not offer protection to the borrower unlike that which the latter would benefit from an affected auto loan. If a problem does appear during the sale of the car, that the car is not delivered, or that the contract for the sale of the car is canceled, the borrower will still have to repay his monthly payments, and this, from the conclusion of the personal loan. This is not the case with an affected auto loan.
To conclude on its advantages and disadvantages, we can say that this type of loan offers flexibility in its use. However, it is not necessarily the most suitable for the purchase of a vehicle alone but will be perfectly suitable when purchasing a vehicle and other types of goods. It is still possible to use this type of loan to buy only a car. It will then be necessary to be careful when purchasing the vehicle.
New car vs used car
Every time you have to change your car, the same question keeps coming up: which car to choose? New or used? It is necessary to ask this question because depending on the answer, the solution will not be the same since the characteristics of the car loan differ depending on whether it is a new or used car. New and used cars differ in a number of ways, not just the cost of the car when it is purchased. Other criteria come into account such as maintenance costs, comfort or even the presence of a multitude of options on the car ...
In order to choose between these two types of car, you must first determine the essential characteristics that will encourage you to buy one car rather than another. To help you with this, it is enough to know the differences between new and used cars.
- New car
The new car may seem like the solution: car in excellent working order, at the cutting edge of technology ... You can personalize it from A to Z, that is to say you can choose the brand, the model, color, engine, as well as all kinds of optional options.
A new car also has the advantage of not incurring immediate maintenance costs. In fact, new cars are now generally guaranteed for a few years for any mechanical problem that may arise during this period. Thus, you will not have expenses relating to the replacement of a part during this period since the warranty covers the cost. According to some manufacturers, this warranty can even reach up to 7 years, which is by no means negligible.
In return for these considerable advantages, buying a new car requires a larger budget than that necessary for a used car. Thus, the amount of your auto loan will be greater, as will the cost of credit, compared to an auto loan for a used car. In addition, it must be taken into account that insuring a new car is more expensive than insuring a used car. This is explained by the fact that in the event of an accident with a new car, it will cost the insurance more expensive to be replaced than if it is a used car. The higher price of the new car is thus "passed on" to the monthly premium for auto insurance.
It should also be noted that the bulk of the discount on the car will take place during the first 3 years (i.e. around 30% of the purchase price).
Ultimately, a new car costs more to purchase and insure than a used vehicle, but on the other hand, it has the advantage of reducing vehicle maintenance costs.
Tips for buying a new vehicle:
- Try to negotiate the model you want to buy. To do this, play on the competition and negotiate with the salesperson to obtain a discount on the initial price of the car.
- Although you can customize the car to your liking, keep it simple and avoid buying an unusual car. These elements will make it easier for you to resell your car. It is indeed complicated to sell a car with a color that is out of the ordinary. Likewise, it is better to buy a car from a recognized brand, which you find in all the streets, than from a brand unknown in your country. People won't take the risk of buying a car from a brand they don't know.
- Take advantage of the end of series, it is possible to do good business in this case.
- Also ask the dealership how much they would take back your car. It's a common practice that allows you to pay less for your new car in exchange for trade in your old vehicle.
- Also ask to test drive the car of your choice. This will allow you to make sure that this is the car you want. So you will not regret your purchase and you will not have any surprises while driving it.
- Used car
Buying a used car will save money since such a car costs less than a new car. It even reduces the cost of the auto loan. The lower cost of a used car, compared to a new car, is its main advantage.
However, a used car will require more maintenance than a new car. You will need to check that the vehicle has been regularly maintained by asking for invoices for the various repairs. If you do not do this, despite the still valid technical inspection (carried out less than 6 months before the sale), you may be exposed to possible almost immediate repairs which may be very expensive.
One solution that may appear interesting is to buy a recent but used car. In this case, you should not incur expensive maintenance costs since the vehicle is still relatively new. If you choose this solution, try to buy a vehicle that is more than 3 or 5 years old. In addition, by combining it with the classic (affected) auto loan, you will reduce the cost of your auto loan when it would be otherwise with a personal auto loan.
Tips for buying a used vehicle:
- Ask about the rating of the vehicle. A price that is too attractive can hide possible defects or a lack of maintenance. It would be a shame for you to buy a much cheaper car but still have to do all the repairs.
- Some dealerships offer used cars. In this case, go to a dealership of a different make than the car you want. This will save you a small amount of money. This is because a used car of an X brand will generally be cheaper at a Z dealership than at an X brand dealership.
If you do not pay attention to the aesthetics of your vehicle, you can opt for a car of an unusual color. Since this type of car is more complicated to sell, the price will be slightly lower than for a car of a classic color (black, white, gray ...) Having your license allows you to gain autonomy by no longer depending on others when we need to move. But when you have just received your license, you are then considered a young license for 2 years if you have been driving accompanied, or 3 years otherwise.
Acquisition of a car for young people allowed
The status of "young license" has consequences that must be taken into account when buying a car. Indeed, due to the lack of experience in driving, auto insurance offers higher rates for young drivers. Similarly, if you buy a large car if you are a young driver, the insurance may refuse to insure your car, or will accept in exchange for an additional cost on your insurance premium.
To counterbalance this higher auto insurance rate, it is then appropriate for the young driver to buy a used city car. Since this type of car is intended to be driven primarily in town, this is a small to medium sized car model suitable for a young license. In addition, for a young person who has just passed his license and who does not have a significant financial contribution, or even no contribution, this type of vehicle is ideal. It will not repay too large monthly auto loan payments.
Consequently, you will benefit from a vehicle that will not have cost you too much, compared to a large car, while repaying rather decent monthly payments in relation to your financial situation. So your car loan will not cost "an arm".
Buy the car of your dreams
Have the latest model released? or a car equipped with a radar and a reversing camera? or an electric car? Determining the model of the car of your dreams is rather an easy thing to do despite the multitude of criteria to be taken into account. The more parameters there are to take into account, the greater the amount of the ideal car will be. Unless you are a bargainer, it will be very hard, if not impossible, to get the price of the vehicle down to a reasonable price. Therefore, the auto loan amount will be larger, and so will the cost of the auto loan.
However, it is more complicated to ask what type of car is best suited to your needs. You have to ask yourself what is most important in order to eliminate unnecessary criteria and focus only on what really matters.
For example, for a family with several children, the vehicle that will appear to be the most suitable will be of the minivan type. This type of vehicle has the advantage of being spacious, of having a larger number of seats (generally 7) and has a large trunk.
Another example, if you have good weather all year round and you are single or in a couple without children, then a convertible may seem the most suitable car for you. You can then enjoy the sun while driving.
Choosing the vehicle that is most suitable for you is essential. Indeed, it would be a shame to take out an auto loan to finance the purchase of a vehicle that you will only use occasionally since it would not be suited to your needs.
Therefore, the car of his dreams may turn out to be completely unsuitable for your real needs. It would then be a shame to waste your money by paying off an auto loan that will appear to be a burden to you.
Where and how to choose the most suitable loan
To choose the auto loan that you think is the most suitable, you must first determine the type of car you want to acquire: make, model, equipment ... Once this step is completed, you must then estimate the amount you will need to borrow from using your auto loan. To do so, you can go to a dealership or to their website to see the prices.
If you can't figure out which car you want to buy, that doesn't stop you from taking out a car loan. Dans ce cas là, le prêt auto qui sera le plus adapté sera le prêt auto personnel. Une fois que vous avez eu recours à ce type de prêt, vous pouvez prendre le temps de réfléchir durant la période de rétraction. Une fois cette période écoulée, vous pourrez acheter la voiture de votre choix sans aucun souci. Par exemple, si vous hésitez entre plusieurs voitures de prix différents, vous pouvez emprunter une certaine somme, puis acheter la voiture dont vous avez réellement besoin. Ainsi, soit vous avez utilisé la totalité de votre emprunt pour acheter votre voiture, soit vous avez finalement choisi une voiture moins chère que prévu et vous pouvez disposer du rester du prêt comme vous le souhaiter: financement d'un autre bien, remboursement de la somme …
Le prêt auto affecté est destiné aux personnes qui sont sûres d'elles, qui ont déjà déterminé quel modèle de voiture acheter. Cela leur permet d'emprunter à l'aide de ce type de prêt auto la juste somme qu'ils ont besoin. Ainsi, il n'y a pas de risque de ne pas avoir emprunté assez ou d'avoir trop emprunté.
Lorsque vous vous êtes décidés sur la voiture que vous comptez acheter et que vous connaissez le prix d'achat, il ne vous reste plus qu'à conclure un prêt auto. Encore faut-il savoir où conclure un prêt auto.
En effet, différents organismes peuvent vous proposer de conclure un prêt auto. Vous pouvez aller chez une banque, un établissement de crédit voire même conclure un prêt auto directement chez le concessionnaire. Si vous optez pour une banque ou un établissement de crédit, ceux-ci vous proposeront généralement de conclure un prêt auto personnel. Si vous choisissez de conclure votre prêt auto dans votre banque, vous pourrez peut-être bénéficier de taux d'intérêts moins élevés que ce qui est proposé ailleurs. À l'inverse, si vous vous rendez directement au lieu de vente et que vous souscrivez un prêt auto chez le concessionnaire, il s'agira d'un prêt auto affecté.
Location avec option d'achat
La location avec option d'achat (LOA), aussi appelé contrat de leasing, est également considérée comme un prêt auto. Mais celui-ci fonctionne différemment du prêt auto ordinaire. Il s'agit de louer une voiture neuve durant une certaine durée, déterminée par le contrat de location, auprès d'un concessionnaire automobile, appelé bailleur. Tout comme un prêt auto, vous aurez un loyer mensuel à payer au bailleur. La durée d'une location avec option d'achat peut s'étendre de 2 à 7 ans (24 mois à 84 mois).
À la différence du financement d'un véhicule neuf avec un prêt auto, lorsque vous louez une voiture en recourant à la location avec option d'achat, vous n'êtes pas propriétaire de la voiture. Cela signifie que vous devrez la rendre à la fin du contrat de location. Toutefois puisqu'il y a une option d'achat, cela veut dire que vous pouvez décider d'acheter le véhicule à la fin du contrat de location, ou bien à chaque date anniversaire du contrat. En revanche, si vous décidez de ne pas acheter la voiture que vous avez louée, tous les loyers versés seront perdus.
De plus, la location avec option d'achat n'est pas une solution de paiement permettant de financer l'intégralité du prix du véhicule. Avec un prêt auto, si vous n'avez pas d'apport, vous pouvez conclure un prêt auto pour financer la totalité du prix d'achat de la voiture, chose qu'il n'est pas possible de faire avec une location avec option d'achat. En effet, si vous souhaitez lever l'option à la fin du contrat, ou durant le contrat, vous devrez vous acquitter d'une somme d'argent correspond à la différence entre le prix de vente de la voiture et l'ensemble des loyers versés. Cela implique qu'il vous faudra un apport pour acheter votre voiture. Si vous n'avez pas cet apport, vous pouvez ensuite conclure un prêt auto. État donné que les montants des loyers sont inférieurs aux mensualités d'un prêt auto, il peut être avantageux pour vous de recourir d'abord à un contrat de location avec option d'achat, puis de lever l'option et de conclure un prêt auto ensuite. Cette technique vous fera économiser de l'argent. Les loyers versés au titre de la location servent uniquement à «rembourser» l'utilisation de la voiture et non à payer son titre de propriété. C'est pour cela que le montant d'un loyer d'une location avec option d'achat est inférieur aux mensualités d'un prêt auto.
Toutefois il faut être conscient de certains éléments avant de conclure un contrat de location avec option d'achat. Votre contrat de location peut comporter quelques limitations quant à l'utilisation de votre voiture. Par exemple, le contrat peut fixer un nombre maximum de kilomètres par an à ne pas dépasser. Souvent, cette limite est fixée autour de 10 000 à 12 000 kms.
De plus, à la fin du contrat de location, si vous ne levez pas l'option, il faudra rendre le véhicule dans un état impeccable. La moindre égratignure ou rayure sur la carrosserie pourrait vous coutez cher puisque le concessionnaire effectuera les travaux de remise en état à vos frais. Dans la même optique, il est plus prudent de conclure une assurance spécifique, appelée assurance de garantie neuve, en plus de votre assurance auto. En cas de remplacement du véhicule ou de vol, votre assurance auto ne prend en compte que la valeur vénale du véhicule. Vous aurez alors à payer de votre poche le complément pour atteindre son prix de vente neuf. Si vous souscrivez à une assurance garantie neuve, vous n'aurez pas à mettre de votre poche.
De plus, tous les contrats de location ne comprennent pas l'entretien de la voiture. Cela signifie que vous pourrez être amené à engager des frais d'entretien, de réparation, pour remettre la voiture en état, alors même que vous n'êtes pas propriétaire du véhicule. Privilégiez alors un contrat de location avec option comprenant l'entretien du véhicule
Enfin, pour que la location avec option d'achat reste plus compétitive qu'un prêt auto, le concessionnaire ne doit pas vous demander d'apport. Bien que cela diminuerait le prix final de la voiture à payer après la location, cela aurait pour effet de faire gonfler artificiellement vos loyers. Dans ce cas, si l'apport est très important, la location avec option d'achat peut perdre de son attractivité. Si vous n'achetez pas la voiture, vous pourrez alors perdre votre apport.
Si vous êtes du genre à préférer les voitures neuves, à changer régulièrement de voiture et/ou que vous n'avez pas systématiquement les fonds pour acquérir une voiture immédiatement, alors la location avec option peut être faite pour vous. Il existe dans le même style, la location longue durée (LLD). À la différence que vous ne pourrez pas lever l'option pour acheter votre voiture et vous serez obligés de la rendre en excellent état (quasiment neuve) à la fin de votre contrat.
Profil du candidat parfait pour l'acquisition d'une voiture
Mise à part la personne qui a une certaine expérience de la route et qui possède assez d'argent de côté pour se payer la voiture qu'elle veut, de manière comptant et sans avoir recours à un prêt auto, on ne peut pas dire qu'il existe un profil du parfait acheteur de voiture. Tout dépend de la situation dans laquelle vous êtes et celle-ci dépendra de plusieurs critères, telle que l'expérience en matière de conduite du conducteur, l'âge du conducteur, les moyens financiers de l'acheteur…
Si vous êtes jeune et que vous venez d'avoir votre permis, vous serez «désavantagés» dans le sens où vous n'avez pas beaucoup d'expérience sur la route et que vous aurez besoin d'un prêt auto pour financer l'intégralité de voiture. Sachant cela, vous vous tournerez vers une voiture d'occasion, moins chère.
En revanche, si vous êtes une personne un peu plus âgée, vous aurez plus de facilités à acheter une voiture. En effet, vous aurez déjà acquis une certaine expérience dans la conduite et serez plus à même de déterminer la voiture dont vous avez besoin. En plus, il est probable que vous ayez de l'argent placé, ce qui constitue un apport lors de l'achat. Cela permettra de diminuer le montant de la somme à emprunter lorsque vous irez faire votre demande de prêt auto. En prime, vous pourrez vous permettre d'acheter une voiture neuve.