Sent your car to the scrapyard and need a new one? Are you changing jobs and need to buy a car to get to your new office? Have you just obtained your driver's license and simply want the joy of driving a car? The only catch is that you don't have any cash available ...
It often happens, especially that buying a car is not cheap. So how to do this in this case? We offer 3 solutions, but there is no miracle; you will have to contact one form or another of auto credit.
Use car leasing
This is the simplest solution. It is interchangeably called car leasing or long-term rental. This amounts to taking a loan, but its system is ultra-flexible and complete. For 100 to 500 $ per month paid for 1 to 4 years, you can have a Renault Clio or a beautiful BMW. Most often, you have an option to purchase from 2 years of rental so that the car belongs to you permanently. The advantage is that you have a contract for the maintenance of the car: overhauls, insurance, and possible repairs are included in the rental price. Rather practical, isn't it?
Take a car loan from a specialized organization
If you don't have the money, you can't make it up. We will therefore have to borrow it. Turning to specialized lending organizations such as Cetelem, Cofidis, Cofinoga, Sofinco, or even your bank is a good solution. They will give you a car loan at a rate of around 4-6% (rate noted in February 2013). You can compare auto loan rates by doing simulations on websites. In the end, your credit will cost you depending on the car you are targeting, from 1000 to 5000 $. This is a high cost, but when you don't have the money to pay for your car in cash, you have no choice. You can also take out a loan for a cheaper used car. In this case, consumer credit will do just as well. It is with this approach that you will find the cheapest financing to buy your car, but you will have to get involved in building your case and negotiating the purchase. It is clearly an economical solution but consuming time.
Go see your car dealership
The last piece of advice we can give you is to go see your car dealership. All the major manufacturers have developed financing offers for their cars. They make your life easier by offering you car loans. They are not the cheapest, but their subscriptions are very simple, and the administrative procedures to then buy the car are very simple. Normal, you have only one interlocutor. This solution is therefore particularly suitable for people who do not want to bother with managing their credit. Then, your dealership can assist you with the maintenance of your car, so it's a turnkey service.
Buying a car abroad
To pay less for your car, you have the option of studying the used car market abroad. It is even more advantageous if you are lucky enough to live not too far from the border. Be careful of scams, though, and check that the meter has not been modified, for example. Indeed, you may be in danger of traveling for nothing if the vehicle does not ultimately correspond to what you are looking for.