Make a loan online: what are the steps to take?
Projects are piling up in your head and you lack the finances to carry them out? You have surely already thought of the credit solution. Know that there are all kinds, more or less suited to your project. We provide you with an overview of the various existing loans and offer you solutions for subscribing to an online loan.
Borrowing money when you have projects but cannot be carried out immediately is practical and attractive. Many individuals turn to this solution when they want to change their vehicle, redo their bathroom, organize their wedding, change computers or even go on a trip. As you can see, these different projects are very different from each other and require you to subscribe to various credits. A brief overview of what currently exists.
What is a consumer credit?
Consumer credit is a contract established between a lender (usually a bank or any other financial institution) which makes available to a borrower (you) a sum of money that the borrower will have to repay each month for a period of time. defined beforehand. Consumer credit concerns loans whose amount cannot exceed US $ 75,000 and which cannot be used for the purchase or construction of real estate.
There are two types of consumer credit: assigned credit which finances a good defined in advance with the financial organization. In this specific case, the money can only be used to purchase the property and it is impossible to carry out another project. The second type of consumer credit is unrestricted credit. As the name suggests, the borrowed money is not dedicated to a particular purchase. The amount is therefore left at the free disposal of the borrower who can carry out the project he wishes, or even several projects if he wishes.
As for leasing with an option to buy, even if it is similar to a consumer credit, it is not strictly speaking. Indeed, especially used for the purchase of car for example, the rental with option to buy is a rental whose amount is paid to the owner until the end of the contract and whose cost of the operation is not expressed. not in interest rates.
The different types of credits
The best known and most widely used consumer credit remains the personal loan. This is unallocated credit, and is therefore often preferred by borrowers. Thus, the borrower can use the money as he wishes, without ever justifying his purchases. The personal loan can therefore be used to balance a small shortfall in cash, but also for various purchases (new computer, new car, new household appliances, leisure, travel, etc.). The duration and the amount of the loan are defined at the time of signing and cannot be adjusted afterwards. This lets the borrower know exactly what to pay back.
When subscribing to a revisable rate credit, the interest rate will be indexed to an index and can therefore change, up or down. Obviously, this change in the rate can impact the duration of the repayment, the monthly payments, or even both.
Modular credit, it leaves the possibility to the subscriber to change, upward or downward his monthly payments. It is also possible with this type of credit to postpone a monthly payment in the event of monthly financial difficulty or to anticipate a repayment.
How to subscribe to a credit online?
Today, nothing could be simpler than using the internet to learn about the different types of credits. Once you have defined the type of credit that best matches your project (s), you can completely use an online credit comparator. Many sites now offer the online credit simulation function. Thus, by entering different information (the desired amount, the number of monthly payments, the amount of monthly payments), you can obtain hundreds of online loan proposals in just a few clicks. It is then up to you to determine the most attractive offer and to decide whether you opt for an online credit or if you prefer to go to a financial organization to settle the various terms before taking out your consumer credit definitively. For those in a hurry, don't panic, many financial organizations offer the online credit option and thus facilitate the procedures for individuals who are short of time or who do not wish to make a physical appointment. Who Said It's Hard To Get Credit Online? Nothing could be simpler, and once the papers are signed, new life is yours.