Loan consumption aggregates all credits
The term loan consumption aggregates all credits offered to individuals by banks or financial institutions to finance purchases of goods and services.
The facilitation of banking exchanges, combined with a desire to revive the economy, has diversified credit . Each solution meets a well-studied need, with specific conditions for each use. Borrowing regulations have also changed significantly in recent years in order to better regulate credit activity.
Loans said to be affected
In the category of so-called “assigned” loans, there is any financing solution for a specific good or service. For this consumer loan , the annual percentage rate of charge (PRA) is very competitive. In return, the loan can not be used for other purposes than the purchased property, whether it is a vehicle (car, motorcycle, caravan, camper), works or a property in the store. The consumer loan is then granted on presentation of a quote or a purchase order of the property to be acquired in addition to the financial elements to build the file.
The solutions offunding at the borrower’s discretion represent all unrestricted credits. They do not require any quote or order form. There are two main types of unaffected credit:
Personal loan is a repayable financing solution that allows the funds to be made available at one time. The advantage of this loan is to know from the start the amount of its monthly payment.
Revolving credit is a financing solution that provides the customer with capital that can be used on one or more occasions (subject to availability). This capital is reconstituted as and when repayments, which allows to rebuild its available for future uses.
Supervision of loans
The consumption loan is a variable of adjustment of the economic health of a country. To actively participate in the recovery , credit organizations have developed wide ranges of financing solutions. At the same time, to better protect consumers and combat over-indebtedness, the legal framework has grown. In order to ensure better conclusion of the financing contracts, credit organizations must carry out thorough due diligence on their future customers, mainly in relation to their repayment capacity, before granting the availability of capital. On its website or by contacting a consultant, makes it possible to make a consumer loan simulation, in complete security.