Do you dream of buying a new car, but don’t have the budget for such an acquisition? Auto credit is the ideal solution and in Belgium, you can choose the formula that best suits your needs and your financial situation. Among the most advantageous offers, the installment loan allows you to borrow up to 100% of the value of the car, which saves you from touching savings or even taking the time to save money. Everything you need to know to take out a car loan in Belgium. See of critique.

Where to find a car loan in Belgium?

Where to find a car loan in Belgium?

Auto financing in Belgium is available from credit organizations which essentially offer installment loan formulas, namely a fixed-term loan with fixed monthly payments, taken out under specific conditions such as the interest rate, the cost of a monthly payment and repayment duration determined in advance to allow you to better manage your budget. The conditions for granting a car loan vary from one bank to another and it is strongly advised to take the time to compare them to find the cheapest and most suitable formula for your personal situation.

If before it was necessary to obtain meetings with bankers to find out their offers in car credit, it is now possible to make comparisons online. Indeed, the number of Belgian auto loan organizations is constantly increasing and the Internet is full of online simulation sites and comparators. This is the case with our remote simulation tool through which you will be able to calculate your car loan in Belgium, on the basis of your own selection criteria, among others the amount to borrow, the repayment period, the cost of ” a monthly payment and the total amount of the credit.

This comparison is a decisive step which will allow you to have a first idea of ​​the interest rates applied on the market, of the differences in total cost of credit from one bank to another, and this, just based on the repayment period and the amount of a monthly payment. Without leaving your home, you get free quotes that will serve as references when you negotiate your car loan contract with the financial institution of your choice.

Made available to you free of charge and without obligation on your part, Good Finance’s simulation makes your life easier by providing you with a comparison service so that you can make the right choice between the many offers from self-established credit organizations. in Belgium. After this step, if an offer seems interesting to you, you can continue the process by sending your car loan request online which will be sent directly to the bank of your choice.

Simulation and online car loan application

Make your life easier with our online simulation tool that will help you calculate your car credit. To do this, you will simply launch the online comparison by indicating the amount you want to borrow for the purchase of a car, as well as the amount you want to pay every month based on the repayment tenure.

From this data, you will obtain the numerous proposals from Belgian credit organizations, which you will be able to compare based on figures which indicate, among other things, the interest rate on the credit, often represented by the term APR or annual effective rate. overall, a reference percentage which includes the nominal interest rate, the application fees and any additional costs.

You will also be informed of the cost of a monthly payment, the number of installments or the duration of repayment, as well as the total cost of the credit. Also note that the interest rate varies depending on the size of the amount borrowed, the repayment term and the type of vehicle purchased (new or used). Once you have found the offer that best meets your expectations, you can continue the process by launching your online request, which will be answered in the coming days.

Among the information that you must provide to constitute your car loan application file online, you have for example the data concerning your financial capacities and the nature of the project that you will carry out with this loan, in this case the purchase of ‘a new or used car.

What is more, the lender must ask you questions that will help him locate your financial capacity and know if you can repay this loan. For its part, your lender must provide you with a written document or an e-mail called “European standardized information on consumer credit” or “SECCI” informing you of the characteristics of this car loan to enable you to compare offers between them, to compete and you decide to sign a credit agreement with full knowledge of the causes.

Choosing the right car finance in Belgium: key figures

Choosing the right car finance in Belgium: key figures

The choice of a car loan is based on key elements provided in the quote obtained from the online simulation. Whether it is figures or percentages, they will be useful for you to compare the offers of Belgian credit institutions and more easily find the most advantageous of the proposals.


The Annual Effective Annual Rate (APR) or the Effective Annual Rate (TEG) expresses the interest rate fixed by the credit institution to help you make an assessment of the total cost of your car loan. In application of the law, this interest rate must never exceed the “usury rate”, which is the maximum applicable legal rate that all lending institutions must respect.

Always visible on advance offers, advertisements and auto credit contracts, the APR includes the nominal rate, fees, commissions and other direct and indirect remuneration such as registration fees and handling fees, and possibly bonuses insurance in case of compulsory insurance. Based on this APR, you have an effective tool to compare credit offers by carrying out an evaluation of the overall cost of all car loans.

The cost of a monthly payment and the repayment period

In addition to the APR, you must take into account the cost of a term and the duration of repayment of your car loan. Clearly visible on the loan offer, this information gives you an idea of ​​what to expect throughout the repayment period. For example, you will know from the start how much you will have to pay every month and whether this new charge will be borne by your budget.

To get there, add up your current debts and your usual expenses, as well as your fixed income to get the amount that you will be ready to pay to repay the car loan with its interest. What is more, the repayment duration and the amount of a monthly payment have a significant impact on the percentage of the interest rate and this data will be useful when you are going to negotiate a loan on the best possible terms.

The total cost of credit

Among the information provided by the prior offer of auto credit, you have the total cost of the credit, this amount which tells you the total of what you will have to pay under this credit. It essentially includes the amount borrowed, interest and fees. To be more likely to find the best car finance offer in Belgium, take stock of your real needs and already have a precise idea of ​​the amount you will need to complete the acquisition of your new car, as well as the amount you’ll be willing to pay on a new loan.

Which car loan formula for which type of car?

Which car loan formula for which type of car?

Whether you dream of acquiring a new car or betting mainly on used models, the offers of Belgian credit institutions always adapt to your needs.

The new car loan

So, you can specify that this loan will be used for example to buy a beautiful new car less than 2 years old. In this case, you can claim a more attractive interest rate, because the bank will be reassured about the end use of the money. Often, the new car loan is taken out in the form of assigned credit, where you will provide an order form or an invoice with your loan request file to confirm your purchase and inform the bank about the brand, type and discount of the car you are going to buy.

In addition to the formulas intended for the acquisition of new cars, Belgian financial establishments also offer you specific car credit offers which will help you to review your priorities and opt for more ecological and innovative models such as hybrid cars and automatic versions. Because you are going to provide a voucher, you have more room to negotiate the price of your new car with the dealer of your choice.

In order to reduce the budget necessary for the acquisition of your new car, wait for the best time to make the transaction. This is the case of off-peak periods, promotional offers and destocking which will allow you to acquire a more interesting car in terms of range and accessories for the same price.

Used car credit

There are also second-hand car loan offers whose terms vary from one lender to another, but which allow you to buy your vehicle without having to touch your savings or save years before being able to you decide. The used car loan will suit you perfectly if you like to keep a car more than five years without having to worry about the fall in the resale price, while you have more margins concerning the duration of repayment of the loan, and thus reduce the amount of the monthly payment because the interest rate of used car loans tends to be higher compared to the financing offers for new cars.

Since you buy on credit, you agree to reimburse everything from the bank, even if you come across a wreck with countless hidden defects. To avoid such a situation, take the time to check the car well before buying it from a garage or an individual. Among the points to review on a used car, you have among other things the vehicle file which informs you about the life of the car through invoices for replaced parts, maintenance carried out, etc.

There is also the manufacturer’s manual informing you of the many features of the car, as well as the static examination to be carried out in the company of an expert to make a complete inspection of the interior and exterior of the car that you go to buy on credit.

Negotiating your Auto Financing in Belgium

Negotiating your Auto Financing in Belgium

The conditions for granting a car loan differ from one financial institution to another, so it is essential to learn to negotiate to find the best offer. To do this, proceed in stages, starting with an online search using our remote simulation tool. To start calculating your car loan on our site, you will indicate the amount you want to borrow, as well as the repayment duration that suits you. In just a few clicks, you will get the proposals from Belgian credit institutions and by choosing to subscribe for the cheapest offer, you will fill out the appropriate form to launch your request online.

At this time, the process is free and does not commit you to anything, the auto credit contract will not be real until you have signed and returned the document with all the supporting documents requested. In the meantime, you still have the possibility of comparing the offers between them and playing the competition between banks and credit institutions with the results of your credit simulations.