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Financing solution to buy your new or used vehicle

The BANK KGK accompanies you within the framework of your project for the purchase of your vehicle

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Why Choose Us For Your Car Loan

Car credit, most often called “car credit”, is a consumer credit allocated to the purchase of a motor vehicle. An individual who does not have sufficient funds for the purchase of a car, both new and used, can thus apply for a loan from a banking organization or a credit platform. The requested financial institution will then have to pay the purchase of the vehicle to its seller, and the borrower will have to reimburse it, as for any credit, the capital paid as well as the interest provided for in the loan contract.

The amount of a car loan is capped at 100,000 euros in Bank KGK and in principle has a duration of 84 months. Its repayment must be made up to the amount of the borrowed capital, to which must be added the interest and the various costs related to the loan (application fees, optional borrower insurance, etc.). Your car loan is repaid in the form of a monthly payment, which corresponds to a fixed amount to be paid every month over a period defined in your loan contract.

Advantages

Subscription contracts start at age 16 !

Taking out a car loan has the most obvious advantage of allowing the acquisition of a car by a person or a household that does not have sufficient means to buy it in cash. You should also know that the amount of the car loan may include the cost of additional equipment (child seat, bike rack, etc.), vehicle registration or other current costs (insurance, maintenance, assistance, warranty extension, etc.). This allows the individual taking out a car loan to afford a more upscale car or to buy additional accessories, without straining their budget with a repayment spread over several months (generally 12 to 72).

The granting of the car loan is closely linked to the purchase of your vehicle, whether it is used or new. With a loan specially dedicated to this acquisition, you are covered in the following cases :

• The car is not delivered. Your car loan is automatically cancelled.
• You don’t get your car loan. If the bank refuses to release the funds to finance your car, the sales contract is then considered null and void.
• You do not receive the car. The repayment of your car loan does not start until you are in possession of your car.

To finance the purchase of your vehicle (car, motorcycle, etc.), KIM GAYDU KARDASHIAN BANK offers you, thanks to its analysis technologies, the online credit application via videoconference interviews or directly with one of our advisers, so that you are fixed on all the terms of your project. Appointments are made by e-mail, or in our store with one of our advisers.

Loan capital can be up to $100,000.

In addition to the speed and simplicity of our offer, KIM GAYDU KARDASHIAN BANK guarantees the protection of your project’s personal data, as well as its security.

Terms

To obtain a car loan, the borrower must be able to present:

• Sufficient and sustainable income, by providing their last payslips and/or tax notices. In the absence of a permanent contract, it will be necessary to prove to the lender its solvency and its possibilities of repayment.
• Moderate charges, by providing their account statements or a deed of ownership of their accommodation
• A debt ratio of less than 33%. In other words, the monthly car loan payment, combined with other possible loans in progress, must not exceed one third of your income.

Your car loan will then need to follow a number of steps:

• Make simulations to find auto credit on the best possible terms.
• Define a concrete purchase project.
• Contact banks and other lenders.
• Prepare your car loan file by gathering various supporting documents (see below the details of the papers to make a car loan).

Best rate

Does your project require the acquisition of a car, new or used? A cheap car loan allows you to easily finance the purchase of your new car. However, not all vehicle loan organizations offer the same conditions. The auto loan rate, but also its total cost and the amount of monthly payments can vary greatly depending on the lender. To choose the most suitable car loan for your needs, you must take into account the following elements:

• Your personal contribution. This amount may have a down payment value when taking out your car loan. The amount of your loan will then be lower. It is important to ask yourself the question of subscribing to a car loan with or without contribution.
• The annual percentage rate of charge (APR). This is the real cost of the car loan. If you want to obtain a cheap car loan, it is the APR that you have to study. This annual percentage includes credit-related costs such as interest, insurance contributions or administrative costs.
• The duration. This is the period during which you will have to repay your consumer credit. It is expressed in years or months. Note: the duration of your loan is a criterion not to be overlooked. It determines the calculation of the amount of the monthly payments.
• Optional insurance. Even if the law does not require insurance for car loans, borrower insurance is useful in the event of a hazard that prevents you from paying your payments.