Loan for a second-hand car

Loan for a second-hand car

3.50%*
  • Choose partial or full financing
  • Repay the same amount every month
  • Work out your loan and apply for it online, even if you're not yet one of our customers
Work out your loan for a second-hand car online

Have questions or concerns about the coronavirus outbreak affecting your financial situation? E-mail us at corona@kbc.be or call us on 02 448 02 44 for more help.

Borrow all or some of the amount required

If you sell your previous car, you can use the proceeds of that sale to cover part of the cost of buying your next car. You can then borrow the rest.

Would you rather not use the proceeds of your sale for this? Then you can also borrow the full amount of the purchase price (including VAT).

A fixed-rate car loan

The interest rate on your car loan never changes. That means you can be absolutely certain your monthly repayments will remain the same for the entire term of the loan.
When you take out your car loan, you also receive a schedule showing your monthly repayments during the full term of the loan. You can then see what you've already repaid any time you want.

Car loan calculator

If you know how much you need to borrow, you can easily work out your monthly repayments with our car loan calculator. The amount you repay each month depends on how much you want to borrow and the period over which you wish to repay the loan.

If you need help working out what period to repay the loan over, see our guide to choosing the best repayment plan for you.

What is the ideal term?

The best term for you depends on how much you want to borrow and how much you can afford to spare each month. The longer the term, the less you'll have to pay each month and the easier it will be to pay off the loan. The shorter the term of your loan, the more you'll have to pay each month, but you'll pay it off sooner and also end up paying less interest. At KBC, you choose what you prefer to do.
There are a few legal constraints that apply to the term of a loan (these are automatically built into the loan calculator).

Amount borrowed
(in euros)
Maximum term
(in months)
Up to 2,500 24
Up to 3,700 30
Up to 5,600 36
Up to 7,500 42
Up to 10,000 48
Up to 15,000 60

A new car quickly depreciates in value, so we recommend keeping the term of your loan as short as possible. As a novice driver, it's often the case that you haven't taken out any other loans, but you are more at risk statistically of damaging or writing off your vehicle in an accident. It's worth remembering that, while you've lost your car in this scenario, you will have to continue paying off your loan. You can, however, limit that risk by taking out comprehensive insurance at KBC.

Car loans and your tax return

When you declare your work-related expenses, you can claim the interest on your car loan against your tax.

When do you get your money?

Payment of the car loan

Your car loan will be paid to you

  • When your car is delivered
  • After KBC receives the relevant signed documents and proof of investment (order form or invoice)
  • By crediting the account from which your monthly repayments will be made

When do you start repaying your loan?

You start paying off your car loan one month after it is paid to you. All subsequent payments are made on the same day of the month on which you made the initial repayment.

 

Example illustrating when repayment is to be made

When do you repay your car loan?

Suppose KBC makes your loan available to you on 25 March. You will then start repaying your loan on 25 April, with all subsequent repayments scheduled for the 25th of the month.

Account for repaying the loan

If you already have a current account at KBC, you can repay your loan from that account provided you're the sole or joint holder of the account.
The account for repaying the loan must be the same as the one into which the loan was paid.

If you don't have an account at KBC, you can also pay off your loan by direct debit from the account you hold at another financial institution.

Car loan details (instalment loan)

FAQs about instalment loans

Already own a car and want to sell it?

We’ll be happy to help. Our web page on how to go about selling your car provides a list of tips and things to remember, such as a model contract of sale.

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Our KBC Touch and KBC Mobile apps let you easily work out and apply for your car loan. You get the same low interest rate as you would at our branches.
Work out your car loan now
Work out and apply for a car loan online

Representative example: for an instalment loan of 15,000 euros to be repaid over 60 months at a fixed annual debit rate and annual percentage rate of charge of 3.50%, you pay 60 instalments of 272.51 euros per month or 16,350.51 euros in total. Rate applying from 01-09-2021 for terms of up to 60 months, for an instalment loan used to finance a second-hand car more than two years old. The vehicle must be bought by a private individual.

Credit type: Instalment loan provided by the lender KBC Bank NV, Havenlaan 2, 1080 Brussels, VAT BE 0462.920.226, RLP Brussels, FSMA 026.256 A. Subject to your loan application being approved by KBC Bank NV and mutual agreement.