Vehicle credit and the freedom of choice

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When the financial choice influences the choice of the vehicle…

When people are buying a car many concessionaries are proposing a leasing solution. If the leasing is very interesting in term of monthly cost, it can as well have an impact on the choice of the vehicle for the buyer. Indeed, the cost of the leasing will depend on the vehicule value depreciation. This one is often estimated like that:

  • The brand of the vehicle
  • The model of the vehicle

So financing a vehicle under a credit vehicle will result of various costs depending on the type of the model chosen. Thus it will limit the buyer’s choice if looking for the best funding deal possible.

A vehicle credit: regained of freedom!

Opting for a vehicle credit for buying a car is sometimes more interesting than a leasing in matter of cost and freedom. Indeed, an auto creditconsists of borrowing a sum of money (throughout a bank or a financial organism) and repay it bit by bit. In this case of figure the brand and the model of a car have no influences on the rate charged. This will allow to the future buyer a total freedom of choice for purchasing his car.

Financial comparisons

In terms of cost the credit is working quite differently than a leasing. The monthly cost will vary essentially depending on:

  • The borrowing amount
  • The credit duration
  • Your financial circumstances and your solvability (who will influence on the interest rate)

In certain way we are considering that the credit is just as or even more advantageous on a short-term contract. One of the big advantage of the credit is once you have reimbursed it, you have nothing to pay anymore. The leasing instead results for whom who wish to keep his vehicle in the end of the contract in a payment of the residual value. This one is sometimes important. If you have some questions regading the choice of a vehicle credit or or leasing, the best things to do is to compare the different offers. An advisor will be glad to inform you on the cost differences depending on the vehicle that you wish and your situation.

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