Personal credit simulation

Do you have a project in mind but are not sure you can achieve it? You can use an organization offering personal credit simulations. Learn more about personal credit simulation.

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Get a simulation for your personal credit

Do you have a project in mind but are not sure you can achieve it? You can use an organization offering personal credit simulations also called a personal loan . Fast and efficient, these simulators will allow you to take stock of your financial situation and start planning to achieve your dreams.

Many are those who, when they have a project in mind, resort to a personal loan to carry it out. Indeed, if you do not have the necessary money to carry out your project, you can either postpone it and wait until you have the financial means. Or to rent the object of your desire. However, this option is not ideal if your project was more about a trip or the remodeling of your kitchen. Or, and this is the most preferred option by many, take out a consumer credit.

What is consumer credit and how does it work?

Consumer credit is a loan granted by financial institutions to individuals. With some exceptions, consumer credit does not concern businesses. Sometimes, consumer credit is taken out directly at a point of sale. Whatever the consumer credit chosen, the borrower will undertake to reimburse the monthly payments as well as the interest linked to the subscription of the consumer credit.

The objective of consumer credit is to finance everyday expenses: buying a car, traveling, new cooking, with the exception of real estate. These will require the use of home loans. It also does not concern professional expenses, but must be limited to the financing of private goods.

There are two main categories of consumer credit: assigned credits and unallocated credits.

What is affected credit?

As the name suggests, affected credit refers to the purchase of a particular property. This type of credit requires the borrower to think carefully about his project and know exactly how he wants to use the money. Moreover, the affected credit mentions the good or the service concerned by the financing.

Its unique characteristic is that buying and selling are completely inseparable. Thus, if the sale is canceled, the contract is immediately void.

Some information must absolutely appear on the contract when you subscribe to an affected credit. Among them, the identity of each of the parties (seller, lender and buyer), the selling price of the property concerned, the financing conditions (amount of monthly payments to be repaid, loan duration), the amount of the deposit and finally the total cost of credit, including interest.

Unallocated credits

You will understand, the unaffected credit is not linked to a particular purchase and allows the subscriber to enjoy the money as he wishes. The advantage of this type of credit is that it even allows you to finance the unforeseen. There are two main types of unaffected credit: personal loan and revolving credit.

Revolving credit is credit that can be used when needed, in whole or in installments. This credit is reconstituted as repayments are made and the capital becomes usable again as soon as it is repaid.

Personal credit is the solution most preferred by borrowers. It allows all projects to be financed, even without a contribution. In general, repayments are spread between 6 and 84 months depending on the amount borrowed. Personal credit has the advantage of offering fixed conditions. Thus, the borrower knows exactly from the signing of the contract what he will repay each month. It also offers interest rates that are often lower than for renewable credits, for example. Personal credit remains, however, very flexible insofar as it allows the borrower to obtain credit without proof of the project to be financed.

Personal credit simulation

If you rather want to turn to a personal credit but you still hesitate about your ability to repay the loan properly, do not hesitate to look into the personal credit simulation. Almost all financial institutions now offer an online simulation service, which allows you to determine your type of project, the amount you plan to borrow, the desired duration, etc.

In a few clicks, you get a personal credit simulation and can see the interest rates offered. Practical and fast, loan simulators allow you to compare financial institutions to select the one that will be the most suited to your project and which will offer you the best offer. The advantage of this type of procedure? Save you time by avoiding unnecessary trips to all the banks and give you a first idea of ​​what you can claim. Obviously, if the personal credit simulation suits you and you have decided to take out a loan offer, it will be preferable to make an appointment at the chosen banking establishment in order to finalize your project.