Car Loan

What is a car loan?

A car loan essentially works like a standard personal loan but is specifically designed for vehicle purchases. It provides full flexibility to use the funds not only for the car itself but also for additional accessories, such as trailers or upgrades. You can choose the loan term, ranging from 6 to 120 months.

How do I get a car loan?

The process of obtaining a car loan is simple and quick. Here are the steps:

1. Online Application: Fill out a loan application with the lender of your choice.
2. Dossier Review: Your repayment capacity will be evaluated based on criteria such as income, employment status, and the absence of debt collections or payment defaults.
3. Response Within 24 Hours: After review, you’ll receive a response within 24 hours.
4. Funds Disbursement: If your application is approved, the funds will be available after the 14-day legal revocation period.
5. Loan Usage: Use the loan for purchasing your vehicle and its accessories without any restrictions.

Financing for new and used vehicles

A car loan can be used for financing both new and used vehicles, allowing you to choose the one that best fits your needs and budget while benefiting from a flexible financing solution tailored to your personal situation.

Loan or Leasing: make the right choice

If you’re unsure whether to choose a loan or leasing, keep in mind that a loan offers you more long-term freedom. Leasing, on the other hand, often comes with mileage limits, additional fees for early termination, and a lack of flexibility in terms of insurance.

Learn more about the benefits of a vehicle loan and find the financing solution that best suits your needs:

Pedro is a 25-year-old lively young man from Morges with a C residence permit. Born and raised in Switzerland, he completed his apprenticeship as a painter and has been working for four years at a small company in Saint-Sulpice, earning a net salary of CHF 3’350.– per month. Pedro is single, has no children, and enjoys going out with his friends on weekends. He lives in a studio apartment with a monthly rent of CHF 550.– and has no debt collections or defaults.

Pedro's current car, an Opel Astra from 1990 with 200,000 km, has become unreliable and expensive to maintain. He wants to purchase a modern, elegant, and sporty used car, such as an Audi A3 RS.

Pedro initially applied online for a loan of CHF 30'000.– over 84 months. The simulation showed a monthly payment of CHF 435.–. After reviewing his application, the advisor at CC Crédits Conseils SA informed him that the requested amount exceeded his maximum eligible limit. The advisor recommended not exceeding CHF 15'000.–.

Pedro followed the advice and applied for a private loan of 15'000 CHF over 84 months, which was approved by the bank. He purchased an Audi A1 1.2 TFSI with 80,000 km for CHF 13'900.–.

He received an interest rate of 11.95% with a monthly payment of CHF 263.–. No administrative fees were charged, and a death insurance policy is included in his monthly payment.

Crédits Conseils: our services and commitments

• Detailed analysis of your profile and creation of a complete application file
• Calculating your budget to determine your credit capacity
• Personalised advice throughout the process
• Information about your rights, including the right of revocation ("cooling-off period") and early repayment
• Information on insurance covering you in the event of job loss or health problems
• Selecting the lender adapted best to your profile
• Negotiating attractive interest rates
• Absolute discretion: neither your spouse nor your employer will be informed of your loan request.

Calculation example

Loan of CHF 20'000. An effective annual interest rate between 4.9% and 10.95% and a term of 48 months generate total interest between CHF 2'018.10 and CHF 4'549.60. Term: 6-120 months; Maximum annual interest rate (including all credit charges) 10.95%. The granting of a loan is prohibited if it leads to the over-indebtedness of the consumer.(Art. 3 LCD)