According to the ASF, the French Association of Financial Companies, used car financing increased significantly in 2019. In a market valued at 5.8 million vehicles sold, activity grew by an average of 11, 5% over the year, with December at + 39.1%. At the same time, the ASF specifies that the portion allocated to leasing with option to purchase (LOA) now represents more than 75% of financing transactions for new and used cars (the latter category accounting for 13% of transactions. ).
Second-hand LOA, a reassuring and practical vehicle financing method
The second-hand LOA is the most suitable leasing formula for individuals who wish to realize their automotive projects. The LOA is an auto financing designed for motorists. Leasing with the option to purchase a used vehicle allows you to take possession of your future vehicle under very attractive economic conditions. You control your investment over the entire period of your engagement, with a monthly rent set at start-up. And you know from the outset the cash value of your vehicle if at the end of your contract you wish to exercise the surrender option. In a constant search for customer satisfaction, certain service providers supplement the financial aspect of the LOA with a mechanical guarantee and a tailor-made assistance and maintenance service.
A large choice of recent and guaranteed models
The innovation driven by car manufacturers, the exponential development of leasing financing for companies and individuals and the possibility of changing cars every two or three years explain the dynamics and the high quality of the second-hand market. Due to the constitution of a significant stock of recent used cars, in conformity with the standards in force, the professionals organize themselves to structure the sector and offer a demanding clientele a leasing service with option to buy guaranteed opportunities, associated with high added value services.
A fast and secure procedure, accessible to all
The Used LOA is for everyone. The diversity of brands and models and the wide range of budgets mean that all motorists can find their ideal car and finance it thanks to an economical, flexible and easy to implement formula.
The procedure to follow is simple and generally very well documented on the website. The first step is to choose your car from among the models listed on its 100% used LOA website. The interface is functional and many filters help you find your ideal model by allowing you to establish a tailor-made selection (search by rent or by price, search by brand or model, etc.). To support you in this first step, an online tool helps you calculate your ideal budget based on your professional and family situation and the amount you do not want to exceed. Once these elements have been defined, all you have to do is put together your file in relation to your advisor with whom you can adjust the characteristics of your used LOA: the duration of your engagement, the number of kilometers you will travel with your guaranteed opportunity, and the contribution (which is optional and which will determine the amount of your rents and the buy-back value of the vehicle at the end of the period).
Many online LOA platforms!
Due to its simplicity of contraction and its daily practicality, rental with option to purchase interests more and more drivers in France. To meet this growing demand, several web platforms have embarked on car financing in LOA on the internet. By offering vehicles eligible for leasing financing, these platforms centralize the entire car acquisition process: from finding the vehicle to financing it, not forgetting delivery to your home or to the workplace.
Some sites such as Vivacar have even specialized without the niche of used LOA vehicles. Practical financing that allows you to benefit from even more competitive rates with rents that can drop below 100 euros!