Why is it important to perform a consumer credit simulation?
In their daily lives, households are often faced with unexpected or urgent expenses.
It is in this perspective that consumer credit takes on its full interest.
Whether it's buying a new car or replacing your washing machine, this credit makes it possible to borrow sums ranging from 200 euros to 75,000 euros.
To find out which type of consumer credit (personal loan, assigned credit, rental with option to buy or revolving credit) best suits your needs, it is essential to carry out a credit simulation.
Through this, it becomes easy to determine with great precision the total cost of its future loan.
Practical and accessible, most online credit simulators are also free.
It is possible to carry out a loan simulation at any time and without any imposed limit.
In any case, it is advisable to undertake such an approach when considering applying for a consumer loan.
Note that a credit simulation does not require any commitment from the user.
What information is provided by credit simulation tools?
Credit simulators are appreciated for their functionality.
They provide Internet users with various tools that make life easier by providing all the information necessary for taking out consumer credit.
This is the case of the credit calculator which allows you to know precisely:
The annual effective annual rate (APR): this is all the costs inherent in taking out a loan.
This indicator is essential to know the precise cost of a loan and, in doing so, to compare the different consumer credit offers under the best conditions.
Monthly payments: a credit calculator indicates the amount of monthly installments to be expected for consumer credit.
What are the advantages of a simulation with a credit calculator?
A consumer loan calculator is a tool that revolutionizes and simplifies the idea of credit.
Several benefits can be derived from its use, including:
A considerable saving of time: a credit calculator allows you to consult different consumer loan offers on a single interface.
With it, the borrower avoids having to take steps with different banks.
After answering a few questions, the desired information is obtained instantly.
Easy access to the most interesting rates and formulas: the information provided by the credit calculator makes it easy to find the most appropriate consumer credit offer.
The borrower thus has a solid base which will help him to negotiate with the organizations of loan under favorable conditions.
The possibility of knowing customer opinions: credit simulation platforms frequently offer the possibility of consulting customer opinions on a particular bank.
In this way, the customer can realize at a glance the seriousness and quality of the establishment that interests him.
How to make good use of a consumer credit calculator?
Credit calculators are intuitive tools that guide the user through each of the steps to follow.
Before obtaining the answer to his request, the Internet user is invited to fill out a form and provide a certain amount of information.
Some of the most frequently requested information includes:
the type of loan envisaged (car loan, consumer loan, etc.);
the amount of the sum to be borrowed to carry out his project;
the expected repayment term for the loan;
Once this is done, the calculator automatically estimates the foreseeable amount of the loan as well as the repayment dates.
For the sake of clarity and accuracy, additional information is provided to the future borrower.
The FLOA Bank calculator displays for example:
the desired amount;
the total number of monthly payments;
the APR
the borrowing rate
the monthly cost for the optional borrower's insurance.
The credit calculator is appreciated for its speed, its simplicity of use and its adequacy with the current requirements of consumers.
It is an essential tool for finding the consumer credit offer that best suits your project and your financial capacities.
