The rate war for auto credit is declared

Even if the Belgians will be deprived of the Motor Show in January, there are already conditions to be entered on the new vehicles of the many car manufacturers. And like every year, as January approaches, banks will lower their rates for loans intended to finance a new (or used) vehicle.

Moreover, this Friday, Argenta is the first bank to unveil its cards: from January 4, 2021 (and until February 28, 2021), the rate for the purchase of a new vehicle or a maximum of three years old will increase from 1.75% to 1.10%. That intended for the financing of ecological vehicles will fall by 1.49% to 0.85%. These are vehicles hybrids of those who drive CNG or LPG as well as powered vehicles electric.

Less than 0.65%

For several years already, it is Beo bank that offers the best rate. Last year, this amounted to 0.65% for new vehicles or vehicles less than two years old, regardless of the engine. This was a historically low rate. Will it be even lower this year? To be continued…

Currently, the Biobank rate still stands at 1.29%. This is also the rate posted by Axa Banque, CBC, and KBC. Be patient, they will go down because the rate war has only just begun.

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