Are you looking for funding to realize a project that is important to you?Need money to buy new furniture for your home, buy a new car or do some work on your apartment?Unfortunately you do not have enough money in your bank account to carry out these different projects?So you get the idea of ??taking out a consumer loan so you can get it right away without waiting for months and years of savings.However, this is your first loan and you are afraid of paying more than necessary for your financing?So discover some tips to make your credit as cheap as possible.
Choosing the right type of credit
It is important first, before applying to know the different types of credit that are available on the market, because each consumer loan has its specificities and its advantages.
The personal loan is a financing that will allow the borrower to obtain an amount of up to 75,000 euros at one time to be able to buy whatever he wants without having to provide supporting documents to his bank.
Revolving credit is a reserve of money that will allow the borrower to dip into it for unforeseen expenses or to have fun whenever he wants and without providing proof. This reserve will be replenished as the borrower repays. It will often be associated with a credit card.
Student credit is advantageous financing that is dedicated to students, it will finance their schooling as well as all related expenses. The main advantages of this type of credit are that the rate is close to the fixed APR 1 % and that the repayment is deferred, it only occurs at the end of studies.
Choose the right amount and duration
Choosing the right amount and duration of credit will be the key to saving money on its financing, for this you will have to take into account your repayment capacity. Knowing that the bank does not lend to people who do not respect a debt ratio of less than 33 %, it will be a question of not exceeding this threshold. For this you will have to roughly calculate the monthly payment not to be exceeded, it will suffice to take 33 % of your net salary, for example for a salary of 1700 euros you should not exceed 561 euros per month. You will find more information on the calculation on this page.
Then you will have to choose the most optimal duration to make maximum savings, because it is well known that the shorter a loan, the lower the total cost of it. This is why we advise you to go to a loan calculator to find out the duration that best suits the amount chosen, making sure not to exceed your previously calculated monthly payments.
Use a credit comparator
Finally, to still save the maximum amount of euros, we can recommend that you use a comparator of organizations to find the one that will offer you the best possible deal according to your project.For this you will only have to use a comparator that you will find on any site specializing in credit, to fill in the amount you want, the type of credit as well as the duration, fill in your personal information so that he can establish a profile and validate.You will then receive offers from different organizations and you will only have to choose the lowest rate to save a few hundred euros.