Calculate your car loan!
If you already know which car you want to buy, you can work out your monthly instalments with our handy tool.
If you’re already a KBC customer, you can easily do this in KBC Mobile or KBC Touch. If you’re not with us, you’re still welcome to calculate your repayments below, no strings attached.
Learn more about borrowing for a car
What is a car loan?
A car loan is an instalment loan that you can take out at a bank, credit institution or even with car dealers themselves. Car loans have a term of up to six years.
Car loans usually require you to pay less interest than other loans, which is why this type of loan is so popular with many people in Belgium. In 2021, around 30% of new cars were financed with a car loan.
What happens if you want to take out a car loan?
Our loan calculator gives you a quick idea of what your monthly instalments will be: just enter the total price of the vehicle or the amount you want to borrow.
It will then show you:
- the amount you’ll have to repay each month
- the amount of time you’ll have to do so
- the interest you’ll pay
- the total amount you’ll have paid to the bank by the end of your loan term
If you like what you see, you can apply for your loan. You’ll first need to provide the bank with certain details such as your income, your expenses and how many other loans you have. The bank will use these details to decide whether or not to grant your loan and will get back to you within 24 hours. If the bank approves your application, the funds can be paid to you immediately if you want.
How much can I borrow?
Your ‘repayment capacity’ is calculated based your income and expenditure. If you want to know if you can afford a car loan, you should list your outgoings such as your monthly rent or mortgage repayments, your fixed costs and the average amount you spend on shopping, and then subtract them from your income.
Our calculator will help you do this. If there’s enough left over, a car loan might be worth considering.
What is the APR?
Banks and credit institutions are required to disclose the APR or ‘Annual Percentage Rate of Charge’ on every loan. The APR covers not only the interest, but also other charges such as administration fees. If you want to make a good comparison between loans, it’s best to do so using the APR as a basis.
Interest-free car loans
Many car dealers offer car loans at 0% interest, usually as part of a promotional campaign. You should be wary of these offers, however, as you may have to provide a larger deposit or you might receive less of a discount overall, meaning you ultimately end up paying more.