Current car credit rate

Obtaining a zero -rate car loan depends on the specific promotional offers offered by dealers or financial institutions. So monitor the announcements for special auto credit credit offers at zero rate !

How to get the best rate for your car credit ?

The rate of your car credit will determine if your loan will cost you dearly. Many French people choose to finance their new or used vehicle by consumer credit, commonly known as credit. If the maneuver can be interesting, it is still necessary to find car credit at the best rate, that is to say a cheap car loan. Find our comparison of auto credit rates and our advice to subscribe to the best offer !

What is a car credit ?

A car loan is a loan that allows you to finance the purchase of a car.

Types of credit for the financing of a car

A car credit is a so -called affected loan (or credit with proof), that is to say that it is directly linked to the purchase of a new or used vehicle. It is even conditioned: if the sale is not made, the credit either. Same logic if the credit is not granted, the sale is canceled. Obtaining auto credit is in fact a preecing condition which must be mentioned, for example, on the order form.

The main alternative to car credit is to take out a personal loan. The use of funds being free here, you can use money to buy a vehicle, without having to justify anything. Be aware, however, that personal credit is generally subject to higher rates.

However, there are two other possibilities to acquire a car:

• Rental with purchase option (LOA) is a solution offering the possibility of renting a vehicle for a determined period, then buying it permanently by paying the residual value;
• In the same way, Ballon credit is a loan that allows you to acquire the vehicle after a rental period, at a pre -established price from the start.

The interest in taking a loan to finance the purchase of a vehicle

Auto credit allows you to finance all or part of the vehicle acquisition, Whether you have a personal contribution or not. Regarding a depreciable credit, you will pay each month of deadlines comprising a share of interest and a share of capital. The amount of fixed monthly payments will be known from the start, as well as the duration of the credit.

By subscribing to a car loan, You can borrow up to € 75,000. If you opt for a personal loan, it will be limited to € 21,000. The maximum borrowing duration will depend on the credit organization, but it will generally be limited to 72 or 84 months.

If auto credit may seem to lack flexibility, it has other advantages:

• Security: you will not find yourself in debt for a purchase that ultimately did not take place;
• an average rate of auto credit often more advantageous;
• a withdrawal period of 14 days (3 days if the purchase took place immediately).

Make sure that the purchase of the vehicle is indicated on your order.

The different rates to take into account when you want to borrow for a car

Average rates and mini rates are indicative rates and have no contractual value. They allow you to have an idea of ​​the rates in force before making your loan request.

• The fixed car rate remains constant for the duration of the loan, thus ensuring identical monthly payments.
• The variable car rate, also called a self -revisable rate, varies depending on a reference index. It should be noted that a variable rate can be capped, that is to say that it cannot exceed a certain predetermined threshold.
• The debtor rate is the interest rate proposed by the bank to calculate the interests of the loan, excluding additional costs such as insurance costs. The nominal rate is the old calling for the debtor rate.
• The taeg, fixed by the lender, includes both interest and additional costs, thus offering a global vision of the real cost of car credit.

Is there a rate at rate 0 ?

The answer is yes ! Some lenders offer zero -rate car credit offers.

Automotive dealerships, When buying a vehicle, can offer you to be your credit organization and often in the context of promotional offers, do not make you pay interest.

Some information to know, however, about zero -rate credit:

• The subscription conditions are strict: you must absolutely present a good financial situation and have a personal contribution of 10 to 30 % of the purchase price;

• Be careful to have no other credit in progress;

• You will undoubtedly have to take out borrower insurance (be careful, that increases the invoice);

• You will need to be able to quickly repay your car credit, which involves high monthly payments.

Last thing : Only car dealerships offer zero -rate car credit. You will not find it with a banking organization.

What conditions to obtain a credit for a car ?

The conditions to be fulfilled are: a solid history solid, a stable income, a reimbursement capacity and a possible initial contribution. We explain to you in detail !

To get your car credit, your bank will analyze several items, In order to see in particular if you are solvent and your file is solid.

For this, the lending organization will therefore look:

• Your income. This is the first thing your banker will watch.

In particular your salary, but it is not the only money that will be taken into consideration. Land income, pensions and annuities, or unemployment benefits, in short all the sources of income you have will be taken into account, and you will have to justify them.

You will therefore have to provide several documents:

• Your last 3 salary bulletins;
• Your latest tax of taxation (or non-taxation);
• Your last 2 tax bundles taking up the income declarations at URSSAF (for the self -employed);
• Any other document justifying available resources.

• Your loads

To study your credit request file, the bank will analyze your monthly expenses. If she considers that your expenses are too important compared to your income, she will go no further and your file will be refused.

Among the documents to be provided, you will have:

• Your last 3 account statements;
• If in your fixed charges you have the refund of another loan, you will then have to provide the amortization table for your current credit.

And if my credit deadlines are already too important to get a new loan ? Remember to ask for a credit repurchase !

Personal contribution is proof of confidence for a banker, And this can facilitate you access to credit. It is obviously possible to obtain your car loan without contribution, but in this case your TAEG (annual overall effective rate) will be revised upwards.

The greater the loan amount, the longer the length of the credit, and therefore the significant risk for the lender. Hence a greater rate.

After studying all these documents, The bank will be able to calculate your debt rate. Rate obtained from the ratio between your income and charges.

The debt rate allows the bank to define the maximum amount that you can devote to the reimbursement of your car credit. Knowing that this rate must be equal to 33% of your income (new credit included).

Thus, the amount of capital borrowed, and the monthly loan monthly payment will be decisive to calculate your debt rate.

If your debt rate is too high, think of lease to find your new vehicle, and in particular the Ballon Credit, an alternative to the LOA or LLD.

What is the best rate for a cheap car loan ? Comparison 2023

The best rate for a cheap car loan will depend on your profile and the lender.

Some dealers offer zero -rate car credits. These are subject to strict conditions. For example, the length of credit cannot go beyond 2 years, which is not suitable for all borrowers.

As we have seen, the taeg includes, In addition to the nominal rate, the various costs which may be invoiced to you as part of your car loan. Watch out for “call rate”. These are those advanced by all credit organizations and banks on their site. These are generally very low rate, around 1 %.

It is by no means a false advertisement : these rates are actually accessible but on very short borrowing periods (generally 12 or 24 months). This is for example the case of Cetelem which advances a 1 % TAEG for a new, refundable car loan over 12 months (loan from 4,000 to 20,000 €). If your debt capacity does not allow you to reimburse the loan over such a short period, you will unfortunately have to support a higher TAEG because the credit will be longer.

Here are some examples of the different rates of the car loan market in 2023:

In the event that you have liquidity To repay your credit in advance, take the time to reflect. What remuneration could you draw from this amount if you place it in savings ? At what stage of reimbursement are you ? Know that the more you approach the end of the credit, the more the share of interest reimbursed during each monthly payment is low.

Early reimbursement allowances could also be billed to you, in the event that you have more than € 10,000 to be reimbursed over 12 months. However, these are legally caught:

• At 1 % if there are more than a year of reimbursement;

• At 0.5 % if there remains less than 12 deadlines.

Where to make a car loan at the best rate ?

To determine where you should make your car credit at the best rate, you must above all compare consumption credit rates To consult various financial institutions such as banks, credit cooperatives and automotive financing companies to compare interest rates and the loan conditions they offer.

How to calculate an auto credit rate ?

The calculation of the car credit rate depends on the amount borrowed, the duration of the loan and the associated costs. The rate can be expressed in different ways, notably in nominal annual interest rate or in an overall effective annual rate (TAEG).
To calculate your car credit rate : 1) Gather the necessary information, 2) Calculate the amount to be reimbursed, the amount of interest, the annual interest rate, 3) then convert the annual interest rate to TAEG !

How to get a zero -rate car loan ?

Obtaining a zero -rate car loan depends on the specific promotional offers offered by dealers or financial institutions. So monitor the announcements for special auto credit credit offers at zero rate !

What is the current average rate of a car loan ?

The average rate of an auto credit may vary depending on the economic situation, monetary policies, the policies of financial institutions and the solvency of the applicant.
Currently, rates for auto loans are between 1.96 % and 3.57 %, depending on the length of the loan and the applicant’s profile.

What is the rate of an auto credit over 60 months ?

Rates for a 60 -month car loan are between 1.96 % and 3.7 %, According to the applicant’s profile and the policies of financial institutions.

Current car credit rate

You want Buy a new car And you need a little help to finance it ? A car loan can help you acquire any type of vehicle whether new or used.

The credit guide therefore informs you about mini and average car credit rates depending on the duration (from 12 to 72 months) and the loan amount (between 3,000 and more than 15,000 euros).

Find in a few minutes the best auto credit rate thanks to this Automobile credit rates barometer !

To do this, simply Compare the rates offered by the main credit organizations using our car credit comparator. Finally, finalize your loan request and get a personalized rate with the help of one of our advisers.

Rate noted between 01/06/2023 and 01/09/2023

Auto loan rate – short durations

12 months		24 months		36 months
Amount	mini	AVERAGE*	mini	AVERAGE*	mini	AVERAGE*
€ 3,000 to 4,999 €	4.22 %	—	4.61 %	—
€ 5,000 to € 9,999	0.99 %	—	4.22 %	—	4.61 %	—
€ 10,000 to 14,999 €	0.90 %	—	4.22 %	—	3.74 %	—
More than 15,000 €	0.90 %	—	4.22 %	—	4.61 %	—

Auto loan rate – Long durations

48 months		60 months		72 months
Amount	mini	AVERAGE*	mini	AVERAGE*	mini	AVERAGE*
€ 3,000 to 4,999 €	4.65 %	—	4.70 %	—	5.12 %	—
€ 5,000 to € 9,999	4.65 %	—	4.70 %	—	5.12 %	—
€ 10,000 to 14,999 €	3.74 %	—	3.74 %	—	3.80 %	—
More than 15,000 €	4.65 %	—	4.70 %	—	5.12 %	—

Finally, you just have to Compare the rates offered by the main credit organizations with our AUTO credit comparator and finalize your loan request with the help of one of our advisers.

�� Find your car loan at the best rate !

* Average rate : this rate corresponds to the average rate observed between 01/06/2023 and 01/09/2023 for all files submitted having at least one response from a banking partner. It is calculated by type of project (auto-moto / personal loan / work), by amount of amount to be financed and by duration. For reasons of statistical reliability, average rates on certain durations are not communicated when the volume of available data is not sufficient.

Examples for the rates mentioned in the barometer:
Amount borrowed: € 4,800. Fixed debtor rate of 4.141% and fixed TAEG of 4.22% over 24 months. 24 monthly payments of € 208.74, excluding optional insurance. Total credit amount: € 209.76. Total amount due: € 5,009.76 .

Amount borrowed: € 3,700. Fixed debtor rate of 4.515% and fixed TAEG of 4.61% over 36 months. 36 monthly payments of € 110.09, excluding optional insurance. Total credit amount: € 263.21. Total amount due: € 3,963.21 .
Amount borrowed: € 3,300. Fixed debtor rate of 4.554% and fixed TAEG of 4.65% over 48 months. 48 monthly payments of € 75.33, excluding optional insurance. Total credit amount: € 315.91. Total amount due: € 3,615.91 .
Amount borrowed: € 3,300. Fixed debtor rate of 4.602% and fixed TAEG of 4.70% over 60 months. 60 monthly payments of € 61.67, excluding optional insurance. Total credit amount: € 400.48. Total amount due: € 3,700.48 .
Amount borrowed: € 5,000. Fixed debtor rate of 5.004% and fixed TAEG of 5.12% over 72 months. 72 monthly payments of € 80.53, excluding optional insurance. Total credit amount: € 798.38. Total amount due: € 5,798.38 .
Amount borrowed: € 7,700. Fixed debtor rate of 0.986% and fixed TAEG of 0.99% over 12 months. 12 monthly payments of € 645.10, excluding optional insurance. Total credit amount: € 41.17. Total amount due: € 7,741.17 .
Amount borrowed: € 5,900. Fixed debtor rate of 4.141% and fixed TAEG of 4.22% over 24 months. 24 monthly payments of € 256.58, excluding optional insurance. Total credit amount: € 257.83. Total amount due: € 6,157.83 .
Amount borrowed: € 6,300. Fixed debtor rate of 4.515% and fixed TAEG of 4.61% over 36 months. 36 monthly payments of € 187.45, excluding optional insurance. Total credit amount: € 448.16. Total amount due: € 6,748.16 .
Amount borrowed: € 9,800. Fixed debtor rate of 4.554% and fixed TAEG of 4.65% over 48 months. 48 monthly payments of € 223.71, excluding optional insurance. Total credit amount: € 938.15. Total amount due: € 10,738.15 .
Amount borrowed: € 8,900. Fixed debtor rate of 4.602% and fixed TAEG of 4.70% over 60 months. 60 monthly payments of € 166.33, excluding optional insurance. Total credit amount: € 1,080.08. Total amount due: € 9,980.08 .
Amount borrowed: € 7,700. Fixed debtor rate of 5.004% and fixed TAEG of 5.12% over 72 months. 72 monthly payments of € 124.02, excluding optional insurance. Total credit amount: € 1,229.51. Total amount due: € 8,929.51 .
Amount borrowed: € 13,900. Fixed debtor rate of 0.896% and fixed TAEG of 0.90% over 12 months. 12 monthly payments of € 1,163.96, excluding optional insurance. Total credit amount: € 67.58. Total amount due: € 13,967.58 .
Amount borrowed: € 11,300. Fixed debtor rate of 4.141% and fixed TAEG of 4.22% over 24 months. 24 monthly payments of € 491.41, excluding optional insurance. Total credit amount: € 493.81. Total amount due: € 11,793.81 .
Amount borrowed: € 12,100. Fixed debtor rate of 3.677% and fixed TAEG of 3.74% over 36 months. 36 monthly payments of € 355.51, excluding optional insurance. Total credit amount: € 698.23. Total amount due: € 12,798.23 .
Amount borrowed: € 14,900. Fixed debtor rate of 3.677% and fixed TAEG of 3.74% over 48 months. 48 monthly payments of € 334.28, excluding optional insurance. Total credit amount: € 1,145.49. Total amount due: € 16,045.49 .
Amount borrowed: € 11,100. Fixed debtor rate of 3.677% and fixed TAEG of 3.74% over 60 months. 60 monthly payments of € 202.81, excluding optional insurance. Total credit amount: € 1,068.68. Total amount due: € 12,168.68 .
Amount borrowed: € 10,700. Fixed debtor rate of 3.735% and fixed TAEG of 3.80% over 72 months. 72 monthly payments of € 166.12, excluding optional insurance. Total credit amount: € 1,260.38. Total amount due: € 11,960.38 .
Amount borrowed: € 44,500. Fixed debtor rate of 0.896% and fixed TAEG of 0.90% over 12 months. 12 monthly payments of € 3,726.36, excluding optional insurance. Total credit amount: € 216.34. Total amount due: € 44,716.34 .
Amount borrowed: € 40,200. Fixed debtor rate of 4.141% and fixed TAEG of 4.22% over 24 months. 24 monthly payments of € 1,748.20, excluding optional insurance. Total credit amount: € 1,756.73. Total amount due: € 41,956.73 .
Amount borrowed: € 25,600. Fixed debtor rate of 4.515% and fixed TAEG of 4.61% over 36 months. 36 monthly payments of € 761.70, excluding optional insurance. Total credit amount: € 1,821.10. Total amount due: € 27,421.10 .
Amount borrowed: € 35,800. Fixed debtor rate of 4.554% and fixed TAEG of 4.65% over 48 months. 48 monthly payments of € 817.23, excluding optional insurance. Total credit amount: € 3,427.11. Total amount due: € 39,227.11 .
Amount borrowed: € 48,700. Fixed debtor rate of 4.602% and fixed TAEG of 4.70% over 60 months. 60 monthly payments of € 910.17, excluding optional insurance. Total credit amount: € 5,910.12. Total amount due: € 54,610.12 .
Amount borrowed: € 31,600. Fixed debtor rate of 5.004% and fixed TAEG of 5.12% over 72 months. 72 monthly payments of € 508.97, excluding optional insurance. Total credit amount: € 5,045.78. Total amount due: € 36,645.78 .