2018 marks the arrival of a change in car loans. A change that should delight all buyers of a new car, or a used one less than 3 years old. Indeed, CBC bank now offers a car loan rate of 0.85%, unprecedented on Belgian soil. And it seems that other banks have decided to follow suit as they are now announcing the same rate… More details.
Beobank, which had a personal loan rate of 0.89% in 2017, has been dethroned, but let’s bet they will come back with an even more attractive rate in the coming months…
With the auto show taking place in mid-January, it’s likely that Beobank will announce its promotional rate at that time. One of this bank’s successes is that it has always offered the most competitive personal loan rates, and it’s expected to surprise us once again. A personal loan rate below 0.85% wouldn’t be surprising coming from this financial institution, but it would be a historical first, as a 0.85% credit rate is already unprecedented.
Revised Financing
2018 is also the year of change for financing. While some finance at 100%, others go up to 120% to cover both the cost of the vehicle and all additional expenses such as various taxes, etc.
Moreover, as in many other European countries, several banks are favoring buyers of eco-friendly cars by offering them preferential car loan rates. Based on the energy label that categorizes vehicles from A to G, owners of A and B vehicles may enjoy rates of 0.90% at some banks, including BNP Paribas.
In an era where competition is high and fierce, personal loan offers are becoming increasingly attractive, especially from certain dealerships where they can be found at 0%. It’s important to remember that a car loan is never free and to always pay attention to all conditions.
