Whether it is new or used, a car is very expensive, it is the second largest item in the household budget (after housing). In addition to the purchase of the car, he must not forget to take into account the insurance and taxes, maintenance expenses or fuel.
If you do not have enough cash available to buy your vehicle cash, the car loan is definitely the solution for you, but again do you need to find the one you need and one that will cost you the cheaper it is to say, the one at the best rate.
Access to credit : not so simple as that.
Whether for a car loan or a personal loan, it is not necessary to believe that the banks extend credit to everything that passes their door. They want to be sure you will be able to repay the money they lend you, and for this it is necessary that you have a regular income.
You are a student, you just get the permit and you enter in the active life, so it is normal that you want to buy your first car. But can you really get funding as a student ? The answer is yes, most of the major French banks offer their customer the student loans, and this to pay your car, finance your studies, etc
A chance for you … chance that you have to show respect by managing your budget as if you were not a student and paying your car loan on time.
The rules for a loan car student ?
For banks and other financial organizations, you are not a student, but an investment, a future actor of the economic life, and they hope to keep you among their customers once you have a regular income and important it is for this reason that they offer you forms of credit auto student.
It is for this reason that your banker you will pay particular attention when you apply for your loan car. You can borrow from 1000 euros and you can spread the payment over 12 to 60 months.
Your student life you guaranteeing no fixed salary, it is recommended to compare the offers of credit car to find the one that will cost you the cheapest. In fact, all banks do not like students in the same way which makes all do not offer the same rate. Your goal will be to find the organization that offers the best APR.
How to get credit as a student ?
To access the student loan, the first requirement is to be a student, a status you have to prove this by presenting your student card or your certificate of registration.
Then, you must be an adult, banks do not lend to people under the age of 18 years
As you are not able to provide pay slips and prove that you have a regular income allowing you to repay your loan, the banks will compulsorily ask you that a person is the guarantor, that is to say, a person who agrees to repay the credit if you do not see yourself. This can be you parent, any other person that is creditworthy.