Investment bank car loan: a good loan to finance your vehicle?

Investment bank car credit is a personal loan reserved for bank customers. Intended to finance any vehicle (car, motorcycle, boat, scooter, etc.), it is granted without proof of use of the funds. Focus on the different car loan formulas offered by the bank and compare rates with those of the best organizations.

Investment bank car loans in detail

Investment bank car loans in detail

Investment bank car credit takes the form of a personal loan: this is the “Expresso Loan” formula. Without proof of use of the funds, he can be requested both for a new car loan request and to carry out repairs on his motorhome.

General terms and conditions of the Expresso personal loan

 Investment bank car loans are subject to specific conditions.

  • Its minimum amount is $ 1,000: the maximum is defined in agencies depending on the projects around $ 50,000.
  • The Investment bank auto loan repayment period is between 12 and 84 months.
  • The postponement and / or evolution of monthly payments is possible (subject to conditions).
  • investment bank applies administration fees, up to 1% of the total loan amount (minimum $ 50, up to $ 120).
  • Investment bank car credit is a loan without compulsory contribution.
  • This personal loan can be prepaid.

Is Investment bank car loan interesting?

Is Investment bank car loan interesting?

Investment bank car credit is only offered to bank customers . We want to know if it is interesting to open an account in order to benefit from the rates posted by the bank on his car loan? Comparison.

New car loan $ 10,000 over 48 months Fixed APR rate Monthly fees Total cost of credit
Investment bank personal loan 5.23% 228.49 $ 1067.52 $
Car loan affected from the best organizations 2.99% 221.12 $ 613.76 $
New car loan $ 15,000 over 84 months      
Investment bank personal loan 5.48% 212.71 $ 2987.64 $
Car loan affected from the best organizations 3.98% 204.41 $ 2170.44 $

Investment bank car credit is much more expensive than that of the best organizations. It is certainly different, insofar as no proof of use will be requested by the lender. When you know that you can save more than $ 450 between an allocated loan and that of investment bank loan, the calculation is still quick. Transparency requires, we also compared the car loan “Expresso” with a conventional credit requiring no proof of purchase.

For a personal loan of 10,000 $ Fixed APR rate Monthly fees Total cost of credit
Investment bank 5.23% 228.49 $ 1067.52 $
Best Organization 3.60% 223.75 $ 440,00 $

The best credit organization offers a personal loan without proof of use $ 327 cheaper than Investment bank car credit . We may decline all the possible amounts and durations, Investment bank car credit is still positioned behind consumer credit specialists (Cofidis, Cetelem, Sofinco, etc.).

Investment bank car loan facing its limits

To these rates without reflection are added two particularly troublesome elements, specific to the Expresso loan from investment bank. On the one hand, the bank invoices very important administrative costs! They correspond to 1% of the amount borrowed (50 $ minimum, up to 120 $). A plague at a time when the majority of credit organizations have taken precedence over free access to this criterion. This excessive billing reflects a certain delay by the bank in the processing of consumer credits.

The second significant fact of Investment bank car credit is the absence of an immediate response in principle . This is valid for non customers but also when you are connected to your space. Online credit simulation systematically leads to a proposal to create an online account or a physical appointment in an agency. investment bank is only able to provide a “prompt response”. No matter the choice, it will only slow down our auto loan application. Investment bank car credit is modern by offering, for example, an online account opening (subject to acceptance) but the group has forgotten some steps in its modernization process.

The loan for young workers, for a small car loan

The loan for young workers, for a small car loan

investment bank places particular importance on young workers. It is through the “active young loan” solution that those under 30 who are clients of the bank can finance a vehicle purchase or various repairs at favorable rates . Displayed at a call rate of 1.99% ($ 3,000 over 36 months), this youth loan is only attractive under certain conditions. The simulation of young workers’ credit (see here) shows, for example, that the APR rate drops to 5.23% for a request of $ 5,000 over 48 months. However on these criteria the best credit institution of our comparator is much cheaper! This Investment bank car loan is still a great option for 18-29 year olds.

Conditions for the loan for young workers

Investment bank’s “So active” 18-29 year old formula has different conditions from those for personal loans.

  • Amount: between 1500 and 7000 $.
  • Duration of credit: 12 to 60 months (5 years).
  • Monthly payments that can be revised upwards or downwards (depending on conditions).
  • No personal contribution is necessary.
  • Application fees are offered.

This offer is attractive for young people wishing to make a scooter loan or for a second-hand car loan because they are often refused by conventional credit organizations. Be careful though that the APR rate remains reasonable . Any superior proposal will most of the time be less costly to an organization.

Investment bank car loan: the alternative for civil servants, the BFM freedom loan

Investment bank car loan: the alternative for civil servants, the BFM freedom loan

Investment bank is historically linked to Banque Française Mutualiste, which supports civil servants. A partnership which results in the presence of the BFM freedom loan. It enjoys particularly attractive conditions for the acquisition of a vehicle, or any other need for financing. Only agents of the public service, the public service and the members of the BFM members can benefit from the conditions of this loan . Everything about the offer.

  • The BFM loan is a personal loan repayable at a fixed rate.
  • All employees of the administration (see all categories of public officials) holding a investment bank / BFM account can benefit from it.
  • The BFM loan is used to finance all expenses, excluding property acquisitions and the repurchase of loans.
  • Minimum amount $ 1,500, up to $ 75,000.
  • Loan duration 6 to 96 months.
  • Possibility of deferring monthly payments or postponing them (see bank conditions).
  • Possibility to prepay your loan
  • Booking fees offered

Investment bank car credit in brief

Investment bank car credit in brief

Investment bank car loans display indicative rates that are much less attractive than those of credit organizations . We can even say that the majority of banks generally offer more attractive estimates (see Crédit Mutuel car loan). The alternative solutions – and for that matter interesting – are reserved for young workers (so-active formula) or for civil servants (BFM credit). For several reasons (high rates, administration fees), Investment bank car credit is not very competitive!

The good reflex to get the best car loan is to do an online comparison. The conditions for accepting a loan vary from one organization to another, hence the importance of going through a connected comparator, guaranteeing answers in principle.