Is the best consumer credit a loan at the best rate?

We all tend to think that better consumer credit is synonymous with better rate and this is very true in most cases. This is also why we have based our system on a comparison of the best rates expressed in APR, a standard established by consumer credit law.
We will also see that to benefit from the best consumer credit, you have to be careful with your repayment capacity even if you do not always benefit from the lowest rate.

Defining the best consumer credit

Defining the best consumer credit

If we have to stop at financial analysis, getting the best consumer credit is getting the best APR rate for the same amount and the same duration.
To do this, you simply need to use our credit comparator which very regularly records all offers for all amounts and over all durations of the largest credit organizations. You will get the ranking of the best consumer credit, from the cheapest offer to the most expensive offer.

To optimize the means of obtaining the best consumer credit and circumvent the problem of organizations which display low rates but which only grant them to 5% of the best customers, we have developed a specific questionnaire. In fact, not only will you get the ranking of the best consumer loans based on the taeg rate, but in addition, you will have a non-binding assessment for the organization that offers the best rate. You will thus know if it is not preferable to fall back on the second and third best rate.

We use the APR, the annual effective annual rate, which has been defined by the law on consumer credit as being the reference rate including all costs (including administration fees) and which must be communicated by the credit organizations. .

But to get the best rate, you will seek to decrease the repayment period because the lowest rates are for the shortest durations. However if you reduce the repayment period, your monthly payment will increase. If you take too large a monthly payment, you will find yourself in the red at the end of the month and we will no longer be able to talk about better consumer credit!

Best consumer credit: lowest rate

Best consumer credit: lowest rate

To get the lowest rate, it’s very simple, just one solution, use our credit comparator which gives you the ranking of all the offers from the largest credit organizations.

You will see for yourself, the lowest rates are for the shortest durations. Generally 12 months. But these rates are call rates because if you take credit for 12 months, the monthly payments are going to be astronomical. For example, for a credit of 10,000 USD over 12 months, the monthly payments will be around 900 USD per month !! It is probably the best consumer credit but only for those who can afford it !!!

If you ever want to go check in the bank if they are able to match the best consumer loan (which is unusual, as we explained in our article on banks and consumer credit that you can find it through our search engine in the right column), we advise you to find the best consumer credit on our site first and to complete the online credit questionnaire, it’s not engaging, you will just get the best online consumer credit among the largest credit organizations. You will then receive an offer which you can show to your banker and which can serve as a basis for negotiation. You will see if it can line up or not and you will therefore have every chance on your side to obtain the best consumer credit.

In conclusion, be objective about your repayment capacity so as not to put yourself in the red at the end of the month, you might not get out of it, a credit does not deserve that, even the best consumer credit! If banks and credit organizations advise to have a debt that does not exceed 33%, it is not for nothing.

Best consumer credit and lowest rate: the right compromise

Best consumer credit and lowest rate: the right compromise

In conclusion, be objective about your repayment capacity so as not to put yourself in the red at the end of the month, you might not get out of it, a credit does not deserve that, even the best consumer credit! If banks and credit organizations advise to have a debt that does not exceed 33%, it is not for nothing.

This debt ratio will allow you to determine the maximum monthly payment for which you can borrow. Then, to find the best consumer credit at the lowest rate, it’s very simple:
In our simulator, start by filling in the amount you need and select your type of project. You then choose the duration suited to your maximum monthly payment. The calculation is done automatically, you will find this monthly payment in the table of results. You just have to click on the best consumer credit and do not forget to fill out our questionnaire, it is not engaging and it lets you know if you will be accepted at the best rate.

It is only when you return your signed contract with all the documents that the organization will decide whether or not to pay you the money.