Credit companies offer offers at very low rates. But not for everyone! Our partner Lafinancepourtous.com decrypts for you the various offers on the market.
On the Internet, in the press or on television, you can find offers of personal loans or revolving loans at very attractive rates: “From 1.5% fixed APR”, for example. When you request the credit agency to obtain the loan corresponding to this offer, you are not sure of being able to benefit from this credit rate.
Conditions depending on the amount of the loan
The best rate conditions are often granted for loans of a relatively high amount, repayable over a short period (usually twelve months). Which implies high monthly payments. Example: for a personal loan of € 10,000, repaid over twelve months, the APR (fixed annual percentage rate) proposed is 1.50% (excluding insurance) with monthly payments of more than € 840!
This offer, very interesting financially, is not addressed to all. It is then necessary to borrow a smaller amount or to extend the repayment period over several years. However, as soon as the duration of the credit is extended, the rate goes up and the cost of credit also.
Evaluate your repayment capacity
Before you take out a loan, make a detailed assessment of your repayment capacity and make sure you do not make too much of a commitment. Make simulations with the calculators of our website lafinancepourtous.com and do not hesitate to ask for simulations at the financial institution. They will show you precisely the repayments you will have to make according to the amount borrowed and the duration of the loan.