Finance your car

 An auto loan (or auto loan) is a loan to finance a car, whether new or used . It can be a consumer loan (or personal loan) or an affected credit (linked to the good to which it is the subject).

The principle of car credit is to borrow a defined amount which may be equal to the entire purchase price of the car or only a part of this price , depending on whether you have a personal contribution or not. The auto loan offered by Maaf allows you to borrow a corresponding amount: 

  • at the purchase price of the car (with any options subscribed), 
  • accessories not mentioned on the car invoice (within the limit of 20% of the vehicle purchase price),
  • the gray card if it appears on the order form.
  • The Global Effective Annual Rate (APR) : this is the real rate of the loan because it includes all the costs related to the credit, namely the amount borrowed, interest as well as any application fees and contributions for borrower insurance. 
  • The duration of the credit : it can be broken down annually or monthly and determines the cost of the monthly payment to be repaid each month, until the end of the loan. For the same amount borrowed, you can reduce the amount of your monthly payments by increasing the duration of the credit according to your budget. Please note, the rate (Fixed APR) often varies depending on the duration of the credit, take the time to compare the offers between them.
  • Monthly payments : this is the amount you will repay every month, depending on the duration of the credit you have chosen.
  • The total cost of the credit : it represents the total amount that you will pay by taking out the car loan: borrowed capital, interest and any other ancillary costs ( the Maaf car loan does not include any ancillary costs ).
  • The Global Effective Annual Rate (APR) : this is the real rate of the loan because it includes all the costs related to the credit, namely the amount borrowed, interest as well as any application fees and contributions for borrower insurance. 
  • The duration of the credit : it can be broken down annually or monthly and determines the cost of the monthly payment to be repaid each month, until the end of the loan. For the same amount borrowed, you can reduce the amount of your monthly payments by increasing the duration of the credit according to your budget. Please note, the rate (Fixed APR) often varies depending on the duration of the credit, take the time to compare the offers between them.
  • Monthly payments : this is the amount you will repay every month, depending on the duration of the credit you have chosen.
  • The total cost of the credit : it represents the total amount that you will pay by taking out the car loan: borrowed capital, interest and any other ancillary costs ( the Maaf car loan does not include any ancillary costs ).

  • Of course, if you don't have cash and absolutely must have a car for your job, take out credit.

    I have listed below the situations that I consider "exceptional" and which authorize you to use a credit for your car:

    • As said above, you have to buy a car as part of your work: go to your workplace or have a car to do your job (driver, ambulance driver etc.);
    • The borrowing rate is much lower than the rate of return on the savings to be mobilized. For example, if you need to liquidate a life insurance or a passbook with a good yield while your bank offers you a "canon" rate.
    hi it's cyril so i welcome you to this new video today we're going to talk about buying a car it's a question that comes up regularly to know is what we buy a car on credit or is- what we buy it hides so I suggest you start now there is a study which is quite interesting and it is a little bit the genesis in fact of this video it is a study of agricultural credit I think that was done if I tell you no nonsense in 2012 and what emerges from this study is that if you take all the French fleet of vehicles and well you have exactly 75% so all at 75% of the fleet which is financed by credit so you basically take what a safe car when you look around on the road if you drive you look around you will see you take four cars your three that have beenfinanced on credit so already quite interesting because me sometimes I was a little frustrated in fact on the highway when I was super cars and I tell myself kings with how these people manage to buy their car reassure you it does not a lot of the sudden a lot of people who use credit to buy very big cars that is the first point of this study there was also a second thing there is a second thing which is interesting which is what emerges from this study is that a car which is financed on credit is more expensive by 20% than a car to buy cash does that mean that when we use credit to buy a car we will tend to spend more than if we finance it directly with our own funds from there we can say to ourselves is what the credit to buy a carit is useful can we do without the problem in fact of credit and that is not only to create the car but these same generalizable to consumer credit access consumption is that opposite suddenly there we stay in the case of your car but in front of your car if we look a little in an accounting way we are a debt your credit that year after year even from the very moment you buy your car you will have the the value of your car which will decrease you will also have the value to your credit the outstanding amount which will decrease because you are going to reimburse it but the first problem is in the case where you will see the value of the car which will drop much faster than the value of the debt and this will be the case in particular if you don't give your car too much money and you find it in a few years afterwards in a verybad condition that they will have a very large discount and you may have to suddenly find yourself in case the value of your car is going to be less than the value of the debt at the time of the resale so I will if you I don't have a clear idea I suggest I take you an example imagine you buy a car 20,000 ouhlala how I start to draw my car me but it's not a car it feels weird good like that you buy a car 20,000 euros you contract in phase therefore a debt of 20 thousand euros and let's say that you will repay his loan for five years and you killed her for five years so approximately you will you remain an outstanding of 5000 euros imagine patatras last years your car you have a big unfortunately an accident and it works very well you see a little defect is a little distorted in your caryou had an accident she was born dented what very dented which means that your car will cost maybe more than maybe more than 1000 euros well these images and an example cd which will tell me yes no but 1000 euros we are gone from 20,000 in short it's just for the example what happens it means how you are going to resale you are going to have to put 4000 euros back into your pocket for this Latvian credit is worse if you don't pay your credit you will continue to reimburse monthly installments to finally reimburse a car that no longer has any more so that's why in my opinion a car is always bought in cash whether it's new or secondhand rule is really to buy a car cash as we have seen if you buy a car on credit you see the tendency to spend more bought a car beyond your means sofalse through situate finance yourself directly in cash you will no longer have a killer already has - this problem you would buy a car that will sort of match your lifestyle have we groped wages so now of course there are exceptions I am realistic and I will list a few exceptions for me the first exception is if you do not have the money but it is for your professional activity on such a need for a car for your professional activity for example if you are driver located paramedics etc if you need a car to work second exception in a pinch what we could say is imagine you have the money for example you have you want to buy a car for a game amount it is not 10,000 euros for example you have the money in your bank account but your bank for example offers you a veryinteresting to buy a car for example a rate at 0% or a very low rate always is there a rate much lower than the remuneration of turning savings that you can have beside me I remember this is what I had done like java my car at the time I see there I had started looking at the ads a bit I wanted to buy a car for a certain amount and in fact you were doing a special rate a 0% rate and I said to myself well here it is instead to withdraw this savings that I have is to put directly in my car I can make a loan and keep this savings which were remunerated I believe on a booklet maybe one or two percent at the time so here it is not playing a lot but but still is it that one can also reason like that to know arbitrated knowing whether to buy his car cash or not lastprecision also on the monthly payments need consumer credit water consumption credits these are credits that are skipped short term which is 4 5 years so that we will see if we borrow 10,000 20,000 euros will start to see monthly payments that they will easily present 300 400 500 euros and the worry when we have reimbursed such a monthly payment over a period of 3 2 3 to 5 years will have to ensure that in the years to come we are not real estate projects because there it totally strikes the borrowing capacity from the moment when the monthly payments that they are so high drastically reduces your ability to borrow later for real estate we see there we have done the tour roughly on the different points to watch out for if you want to buy your car and you ask yourself the question of knowing what to buycash or do I have to call my bank to make a consumer loan if it's not yet done, do not hesitate you can subscribe by clicking on the button located on youtube not hesitate also it would be nice to put your thumb also on Thursday I'm still so bad but about that it's a little blue thumb here do not hesitate to like this page if you this video sorry if you if you liked it and if you also want to go further you can go on my on my website a jacket is to invest and ed point fr where you will find but video you will find I will try a little bit of public a little content I think you also take found a little content to help you on your way on the investment so I tell you see you next time come on hiIf it's not done yet, don't hesitate, you can subscribe by clicking on the button located on youtube, don't hesitate too it would be nice to put a little thumb too Thursday I'm still so bad but about that it's a little blue thumb here do not hesitate to like this page if you this video sorry if you if you appreciated it and if you also want to go further you can go on my on my website a jacket is to invest and ed point fr where you will find but video you will find I will try a little bit of public a little content I think you also take found a little content to help you on your way on the investment so I tell you see you next time go Hiif it's not done yet, don't hesitate, you can subscribe by clicking on the button located on youtube, don't hesitate too it would be nice to put a little thumb too Thursday I'm still so bad but about that it's a little blue thumb here do not hesitate to like this page if you this video sorry if you if you appreciated it and if you also want to go further you can go on my on my website a jacket is to invest and ed point fr where you will find but video you will find I will try a little bit of public a little content I think that you also take found some content to help you on your way on the investment so I tell you see you next time Hithumb also Thursday I'm still so bad but about that it's a little blue thumb here do not hesitate to like this page if you this video sorry if you if you appreciated it and if you also want to go further you can go on my on my website a jacket is to invest and ed point en where you will find but video you will find I will try a little bit of public a little content I think you also take found some content for for help you on your way on the investment so I tell you see you next time come on hiThumb also Thursday I'm still just as bad but about that it's a little blue thumb here do not hesitate to like this page if you this video sorry if you if you appreciated it and if you also want to go further you can go on my on my website a jacket is to invest and ed point en where you will find but video you will find I will try a little bit of public a little content I think you also take found some content for for help you on your way on the investment so I tell you see you next time come on hiwill find but video you will find I will try a little bit of public a little content I think that you also take found some content to help you on your way on the investment so I tell you see you next time

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