Online credit house: how to choose?
Do you have a project in mind but you lack the money to finance it and do not know how to proceed? We will give you the keys to make your dreams come true. Indeed, it is possible to turn to a consumer credit when you want to finance a project. And if you want to focus on remote administrative procedures, we offer solutions to obtain a loan directly online, without going to a branch.
When you have a project in mind but the financial means are lacking, there are several options. If you are patient and the project is not immediate, you can simply postpone your project until you have the means and take advantage of putting aside money each month. Obviously, if you are more of the impatient type, this solution will not suit you.
The solution that therefore seems the most suitable is the one that allows you to carry out your project by subscribing to a consumer credit.
What is a consumer credit?
A consumer credit is a credit granted to an individual by a financial institution. The individual, as a borrower, undertakes to reimburse the sum of money made available to him.
Consumer credit is intended to finance various projects that the borrower may have: the purchase of a new vehicle, new technological equipment, a new kitchen, the purchase of furniture or even leisure activities: outings, trips etc. Please note, if your project concerns real estate, you will not be able to subscribe to a consumer credit. Consumer credit is indeed incompatible with real estate projects.
The amount of consumer credit remains limited, between US $ 200 and US $ 75,000, which allows for great projects. Be aware that there are two types of consumer credit, affected credit and unallocated credit.
What is the difference between affected credit and unallocated credit?
As its name suggests, the appropriation allocated is intended only for very specific projects. It is then necessary for the borrower to specify his purchase. The affected credit has the particularity of being completely dependent on the good to be financed and conversely, one cannot exist without the other. Indeed, if the affected credit had been concluded for the purchase of a vehicle, it will lapse if the sale of the car is canceled.
When the borrower subscribes to an affected loan, he obtains a guarantee with the latter: if the good or service is defective or not delivered the borrower does not have to start repaying the loan, the sale and the credit can be canceled. You should also know that if the loan is refused to the borrower, the latter is not required to honor his promise to purchase. This is therefore both an advantage and a disadvantage of the affected credit, it is specific to a given purchase and cannot be used to finance anything else.
Unallocated credit allows the user to use the borrowed amount however they want. It is indeed a very flexible financing solution since it allows you to manage the borrowed money as you see fit. This independence has the advantage of freedom but the main drawback remains that in the event of a dispute with the seller and non-delivery of the good, for example, you are required to repay your credit according to the terms of the contract. In addition, if you do not get your financing and have already signed a purchase order you will be unable to pay for the asset if you do not have savings aside.
The personal loan, which is the most used unaffected credit, is an unallocated credit but can sometimes be called marriage credit or travel credit in order to talk more to the consumer, it is nonetheless the sum of money can be used by the borrower as they wish. It can therefore be financing of goods, services or cash or other things (excluding real estate).
Choose your credit house online
If you have decided to use a consumer credit but do not want to take the time to go directly to a bank branch, you can manage your administrative procedures from your computer. We advise you to go to one of the many existing online credit comparators and take a few minutes to enter your information (type of credit desired, amount of credit, repayment period etc.). The website compares hundreds of loan offers based on your request in minutes, and then it's up to you to choose the online credit house that best meets your needs.