CategoryCar Loans

New car? Calculate the cost of a car loan at Lee

It’s hard to fall in love with a new or used car you can’t fund. So start the car check by checking how much you can afford. It can also save you money later.

It is more fun to look at cars than on the economy. But before you really begin to investigate the car market, it’s a good idea to find out how much car you can afford. Whether you’ve put your nose up for a VW, Peugeot, Skoda or something fourth.

An overview of the economy ensures that you do not set the bar too high when looking at a car. When you first look at a delicious sedan, station wagon or SUV, it is difficult to be satisfied with something completely different. Conversely, a calculation can also reveal whether you can actually afford a better car than first assumed.

With or without payout?

It is also a good idea to know how much you can afford to pay out – and whether it can pay for you at all. Lee finances, for example, standard cars and caravans that are up to 8 years, without payment. While cars older than 8 years are financed by up to 80% of the purchase price.

With a pre-approval, your negotiating position is strengthened and it becomes easier to negotiate discounts on the car.

A pre-approval by Lee gives you better cards at hand when you need to talk with the dealer or seller. Then you know how far you can stretch. It’s easy, and you can apply for pre-approval online at your convenience.

  1. You calculate your car loan at one of Denmark’s lowest interest rates.
  2. You apply online for the desired car type and vintage – from mobile, tablet or desktop.
  3. You get answers within 24 hours, often faster.
  4. Once we have granted the loan, you have a pre-approval from Lee to borrow for a similar car type and price range.

The pre-approval is valid for one month but can be extended.

When you have found the car, you send the bill of sale – and that’s it. Then it’s really just putting the key in your new car and enjoying the first drive.

What are the conditions of a car loan?

The conditions of a car loan

The terms of a car loan are about the same for all funding agencies. The main advantage of this type of credit is that it allows to obtain a fixed rate credit: a very advantageous condition since the borrower who will subscribe to the loan will be able to pay a monthly payment in the invariable amount, for the duration of the loan.. 
Compare your best auto loan

Conditions of acceptance of a credit application

As for the value of the interest rate, it varies according to the amount borrowed. The repayment term is also an important factor, since the borrower usually has one to several years to repay his debts. The maximum credit period for the purchase of a car is 5 years.

With respect to repayments, as with other personal loans, the auto loan is repaid by fixed monthly installments. These monthly payments include the repayment of the capital plus the interest required by the bank.

Some banks may even offer to borrowers, auto credit offers that can be refunded before term, without penalty.

Find a credit offer tailored to your needs

If the terms of a car loan are about the same, it is still advisable to make a comparison to find an advantageous credit offer.

Indeed, the APR applied may vary from one bank to another. This is the reason why a borrower can save money by trying to find the car loan offer that offers a more affordable APR.

To compare the offers and terms of each credit institution, the borrower can consult an online loan comparator which allows seeing directly the terms of each loan offer.