Beyond knowing where to make a loan to get the best rate, we will also offer some tips that are worth visiting in terms of consumer credit. Because objectively, it is not always easy to navigate between all the commercial offers and promotional rates offered. We will see above all that our comparison goes beyond a simple classification of rates, by proposing an exclusive system for knowing where to make a loan which will be accepted at the best rate.
Where to make a loan: compare is the watchword
Our first recommendation is to make a consumer or immo credit only with big known financial organizations, like the banks or the credit companies like Best bank or Cream bank. Indeed, credit scams between individuals have multiplied in recent months. The thieves pretend that they have met Mr. So-and-so who was the only one willing to give them credit and that anyone can contact him if necessary. In addition, the credit law is very clear: no payment of any kind can be required from an individual before obtaining one or more loans of money.
Our second recommendation is to compare offers to get the best rate. Indeed, as we will see in our example, there can be hundreds of dollars of difference between financial organizations for exactly the same offer. So do not make a credit with his bank or such or such organization simply because the advisor is nice or because an advertisement speaks of a very low rate.
How to get an agreement in principle?
But comparing consumer loan rates is not enough. Indeed, the file must be accepted! To succeed in obtaining the best rate adapted to everyone’s file, we have developed an exclusive system. After completing our questionnaire, our customers not only obtain the ranking of the best rates but also a non-binding evaluation from the cheapest organization. If the file does not pass, they will be able to question the 2nd and 3rd best organization in one click, and thus increase the chances of obtaining an agreement in principle in good conditions.
To be as representative as possible, let’s take the example of the most requested loan in France: 10,000 dollars loan over 48 months.
Referring to our comparison, to know where to make this credit, here are the differences between the first and the last in the ranking:
Least expensive fixed taeg rate: 2.89% / monthly payment: 220.69% / cost of credit: 593.12 dollars
Most expensive fixed taeg rate: 5.90% / monthly: 233.69% / cost of credit: 1,217.12 dollars
More than 600 dollars difference to make an identical credit. It is useful to specify that the organization is very well known to the French.
When to make a loan?
The relationship with money is never simple, especially in France. When it comes to knowing when to make a loan, it is not always a question of financial repayment capacity but more often of knowing if making a loan is justified for such or such type of purchase. Timing is also important.
The reasons which can lead to make a loan in such or such situation seem to us related to the motivations of each one and a judgment would be in any case peremptory. We will, therefore, devote ourselves in this part to giving the advice to obtain the best credit.
Make a mortgage
When you want to make a mortgage, it is quite essential to compare because the sums involved are extremely large. The potential savings from one loan to another are therefore enormous. This is all the truer since a fall in refinancing rates has opened up a new market with the renegotiation of mortgage loans already taken out in the past.
You should know that when you already have a current loan, it can be interesting to renegotiate its rate if there are more than 100,000 dollars to repay, more than 10 years to repay and that the new rate may be lower by 1% compared to the old one.
Where to make a car loan
It is undoubtedly the most frequent request for credit in France. Whether it is for the purchase of a new or used vehicle, for credit without contribution or not, making a car loan is found in more than half of vehicle purchases in France.
Our main tips for making a car loan
- Be wary of concession credit generally more expensive than others (read our article on how to negotiate your credit)
- Avoid Rental with Option to Purchase (LOA) much more expensive than credit on average (but which allows not to worry about the resale of the car)
- To make a new car loan, you will need to provide proof of purchase
- When buying a used car, it is best to start by knowing how much credit you can actually get to properly target the model.
Good to know: When making a new car loan, the right of withdrawal inherent in the credit also applies to the purchase. In other words, when you buy a new car, it is not possible to retract when if the car was purchased on credit, as the law provides for a legal withdrawal period of 14 days on credit if this right is exercised, it mechanically extends over the purchase of the car.
Make a work credit
If the work is done as part of the purchase of real estate, one can make a work credit integrated into the mortgage, it is more advantageous because the rate will be better. Under the works loan, it is possible in certain circumstances to benefit from the zero-rate works loan. In short, to make a zero rate work loan, you must do energy-saving work and that the work is carried out by a contractor approved by the state. We detailed all the elements of the PTZ in our article on the financing of works.
For other cases, here are our tips for making a work loan:
- It is possible to take out a work credit with a craftsman but generally, since they take a commission, the rate is more expensive.
- To make a work credit, it will be absolutely necessary to provide supporting documents such as a quote or a material order form.
- It is possible to release the funds progressively for work loans of a significant amount.
To know where to make a loan works at the best rate, we advise in all cases to use our comparator which will give the best offer among the largest credit organizations. The offer obtained can serve as a basis for negotiation with the entrepreneurs.