Category Archives: Car Loan

Where can I calculate a car loan?

This means that multiple interest rates apply to credit transactions. Benefit from these advantages and benefit from low interest costs and efficient loans! You can use the compound interest formula in Excel to calculate the financial impact of a loan or the return on an investment. Of course, this does not apply to the calculation of the annual interest, since this formula cannot be changed depending on the time.

Which interest rates are the best?

Which interest rates are the best?

Interest is the basic fee when calculating the total cost of a loan. In principle, a credit company or a credit institution is refinanced by its estimated interest, which can be calculated according to the creditworthiness and the current interest situation of the Capital lender. A house bank approves a certain amount of interest if the savers instruct them a certain amount of money.

In return, a house bank is in a position to participate in the market with the support of the savers’ financial investments and thus receive its own securities. Which interest rates are the best? The initial state, whose interest rate is negative, appears different. The saver wants a higher interest rate. While the borrower wants to make almost no interest payments.

A large part of the consumer loans currently available in electronics stores, furniture stores and hypermarkets invites consumers to a free financing option with an interest rate of 0%, thus tempting them to shop. However, these advantageous financing offers are associated with a corresponding quick amortization. The interest rate of 0% is usually only possible with a term of up to six months.

Calculate the interest cost on a loan

Calculate the interest cost on a loan

Basically, it is very easy to calculate the interest cost on a loan. In principle, a consumer must do nothing other than multiply the current amount of the loan by the interest. The results of this division result in real interest costs. If one calculates the interest costs for a loan in the order of 7000 USD with a discount rate of 4.8%, then there are interest costs in the order of 336 USD.

But be careful: These interest costs arise every year, which is indicated by the abbreviation p. A. is marked. Different interest rates can be distinguished in Germany. The level of this interest rate has a significant impact on bank and commercial bank interest rates. The borrower pays the debit interest to the lender. The home saver receives a credit interest from the house bank, which is the opposite of the debit interest.

If your own deposit is ever used beyond the agreed credit limit, this is the overdraft interest rate. The money market interest rate is suitable for short-term investments because it is based on interest rates and rates. The longer a loan is, the higher the associated additional costs. The house bank will charge more interest for the increasing residual risk of long-term repayment.

Best motorbike loan: comparison of rates and immediate response – Car Loan

 Where to find the best new motorbike credit?

Where to find the best new motorbike credit?

Several options are possible when you want to finance a new motorbike on credit:

  • Opt for a motorbike credit online
  • Choose a motorbike loan in a concession
  • Apply for a motorbike loan from your bank

Online motorbike loan agencies generally represent the best alternative for limiting interest. Our experience in the comparison of loans shows that bank rates rarely compare with those of specialists such as Bankrate, Bank or Yapbank. These large credit organizations indeed offer suitable solutions. Their 100% online experience above all makes it possible to deliver an immediate response online, without obligation. A good way to get an idea of ​​the state of the market. It is still necessary to have the reflex to go through a comparator.

You have to select “new auto loan (- 2 years)” on our credit comparator to access the best car or motorbike loan rates.

Good to know: you must provide a vehicle order form to obtain a new or used motorbike credit, on the same principle as the car credit simulation. The motorbike loan is sometimes integrated into the auto credit comparison at organizations.

Best motorbike credit: why compare rates?

The best credit is generally the property of credit organizations, but not all of them display attractive rates. The rate can indeed vary depending on the amount of the bike, but also the repayment period. It can also be a matter of the organizations’ commercial choices, some of them displaying temporary promotions, for example. Connected to the largest financial organizations, our auto or motorbike credit comparator bases its ranking only on the basis of the APR rate.

Example of a new motorbike loan online

A simple simulation of 10,000 USD over 36 months from our comparator shows how variable the APR rates are.

Our auto/motorbike credit comparison leads to an immediate response in principle. Three simple steps allow you to access this first opinion without obligation:

  1. Fill out a non-binding form, taking care to indicate your situation and your need (amount/duration of reimbursement).
  2. Note the rate of the best credit organization, as well as the immediate response of the organization, ranked first.
  3. Receive the answer immediately, while having the possibility of asking the opinion of the organizations classified in 2nd and 3rd position in case of negative opinion at the best rate.

Allowing you to definitively validate the conditions found on our comparison engine. It then only remains to collect the supporting documents mentioned in the contract, to verify that it is indeed the best motorbike credit and to return the duly completed documents.

Best used motorbike credit

Best used motorbike credit

There are two solutions to buy a used bike on credit:

  • Go through a used car/motorbike loan
  • Opt for a personal loan without proof of use

Credit organizations obviously offer used car or motorbike credit solutions. The rates are slightly less attractive than those of the new market. It is still more interesting to opt for a second-hand motorbike loan rather than performing a personal loan simulation without proof. Motorcyclists wishing to buy a second-hand vehicle via a second-hand motorbike loan must, however, provide a compulsory order form. This document reassures the lender about the project. However, all projects whose outlines are well defined are more likely to result in a low rate proposal.

You have to select “used car loan (- 2 years)” on our credit comparator to access the best second-hand motorbike loan rates.

The motorbike loan without proof to be provided

Sometimes it is impossible to provide proof of purchase to the financial institution. This is particularly the case when the vehicle is offered by an individual. In this case, the personal loan is the most suitable for financing the machine. Without proof of use of funds, this type of loan is one of the most flexible. The amounts can reach 75,000 USD, the maximum authorized under the personal loan (see law). The repayment tenure is as important as in the case of a new motorbike loan.

What about the motorbike LOA?

What about the motorbike LOA?

Some dealers now offer LOA solutions for motorbikes. The principle is to access a recent racing car by paying rents calculated on the basis of a kilometer package, by choosing whether or not to include maintenance and any additional guarantees. It is possible to buy the motorbike at the end of the contract, subject to paying the amount defined in advance. If necessary, the motorbike goes back to the dealer, who then offers to start on a new LOA formula. Very popular for cars, these LOA solutions are often more expensive than the classic car or motorbike loan. This is in any case what is calculated in our opinion on the LOA.

It is also difficult to estimate upstream the number of kilometers that one will travel at the wheel of his machine. However, in case of exceeding the fixed price defined in the contract, the note is very salty. We prefer to opt for a credit purchase and resell the vehicle after two or three years to settle the loan and consider a new purchase rather than engaging in an LOA.

Motorcycle LOA or classic motorcycle credit: how to choose?

The LOA moto works on the same principle as a LOA formula for cars. It therefore raises the same questions, and does not necessarily adapt to all riders. Update on the conditions, advantages and disadvantages of rental with option to buy a motorcycle.

What is LOA for motorcycle?

What is LOA for motorcycle?

Three out of four French people opt for an LOA solution to the detriment of a car or motorcycle loan to finance their new vehicle. Leasing with an option to buy consists of renting a new or second-hand vehicle, for generally affordable monthly payments, on the basis of a mileage package fixed in advance.

A “maintenance & repairs” contract can also be taken out in certain cases, as well as various complementary insurances. The duration of a motorcycle LOA rarely exceeds 48 months (4 years) . The principle is to have the possibility of changing a racing car regularly. Once the duration of the rental contract has been reached, it is possible to buy the vehicle or return it in excellent condition.

The LOA moto seduces mainly for two reasons:

  • The monthly payments are generally less important than those of a classic motorcycle loan.
  • Credit is sometimes more easily accepted than a repayable car / motorcycle loan.

We will however see that this solution has many gray areas. The LOA moto is not suitable for all profiles , far from it.

Motorcycle LOA: a formula with obvious limits

Motorcycle LOA: a formula with obvious limits

Here are the main reasons to prefer a cheap motorcycle loan to an LOA solution:

  • It is a rental and you never become the owner before having paid the total amount due at the end of the contract. The price of the motorcycle is fixed in advance, and the amount to be spent generally corresponds to around 30% of the initial cost.
  • Big wheelers will pay a huge mileage charge . The LOA contract indeed includes a mileage package not to be exceeded. Bikers accustomed to exceeding 20,000 km per year will therefore pay dearly for their motorcycle LOA.
  • The APR rate is not mentioned . So you never know exactly how much LOA consumer credit will cost us.
  • The motorcycle LOA contract incorporating repairs and other maintenance packages is sometimes very expensive, and not necessarily suitable . We had already pointed out this practice to inflate the total cost in our survey “LOA LLD, car credit: which one to choose?” “

The LOA new or used motorcycle does not therefore adapt to all bikers. The classic motorcycle credit is in some cases much more attractive. We took part in a comparison of LOA rates against conventional credit in our opinion on LOA. The result leaves no room for doubt.

Motorcycle credit, a more transparent solution

Motorcycle credit, a more transparent solution

The classic motorcycle loan provides access to several advantages, starting with that of becoming the immediate owner of the machine. Credit organizations all offer solutions adapted to the financing of a two-wheeler.

Using a credit comparator helps identify the cheapest credit solutions. The monthly payments are generally higher than on a motorcycle LOA, but the APR rate is much less important.

Comparison of motorcycle loan rates

Here is an example of a 10,000 USD motorcycle credit simulation over 36 months, made using our comparator. We find that if the two best organizations have a competitive rate, the third is much more expensive.

Motorcycle LOA or motorcycle credit: our opinion 

Motorcycle LOA or motorcycle credit: our opinion 

As we have seen, the choice depends on several criteria. However, be aware that the LOA motorcycle does not allow you to become an owner. It will therefore be necessary to plan to drive according to the mileage plan established in the contract. Any overshoot can indeed result in significant costs.

The costs, precisely, are more important in the context of a motorcycle LOA than for a conventional credit. In exchange, the lender provides access to a motorcycle for often very affordable monthly payments.