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Car loan transfer: How does it work?

If you’ve taken out a car loan but are looking for more favourable conditions, you should know that you can transfer your car loan to another institution.

How do I transfer my car loan?


Step 1:
Analyse competing offers and request proposals from several credit institutions.

Step 2:
If you find a more beneficial solution, you can simply sign a new contract with another entity, with the responsibility of amortising the initial credit that is thus closed.

It’s important to bear in mind that the credit institution will determine your effort rate in order to understand whether or not it’s feasible to grant the loan.

And in this case, as customers are responsible for repaying the initial loan, the effort rate calculation will take into account all outstanding loans.

At Lucrivolume , we have experienced professionals ready to help you make informed decisions that will simplify your financial life.

Translated with DeepL.com (free version)