The day is approaching. Your project is ready to move to the implementation phase. To achieve it, you plan to make a consumption credit. Before choosing the organization and the loan format that’s right for you, you need to go through a credit simulator. Total amount, monthly payments, interest rate … anticipate the details of your repayments.
In the same theme
- Personal loan estimate
- Motorcycle credit simulation
- Estimate your consumption credit
- Are consumer credit simulators reliable?
- Which data for which calculation?
Are our consumer credit simulators reliable?
Available free online and without constraints or commitments, online simulators are on the rise? Why ? Because they give you with more than approximate accuracy all the figures related to your future credit.
To do this, simply indicate the amount and duration desired and the type of loan. If you are thinking of buying a hybrid car, for example, you will specify that it is a car loan. You hope to pay in 55 months? Specify all your criteria and the simulator calculates the exact amount of your monthly payments, based on the average rate practiced at the time of subscription.
Overall, consumption credits are reliable . If they lack precision and the criteria to be completed before the calculation are very few, prefer to opt for a simulator that really takes into account your needs. Anyway, a simulator does not commit you absolutely and is content to guide your choices and make more concrete your project.
Which data for which calculation?
The credit simulator consolidation based all its calculation on the famous APR (annual percentage rate) . This rate takes into account the total cost of your future loan and avoids any unpleasant surprises: application fees, nominal rate, and insurance costs.
From this rate, the credit simulator consolidation adapts to the information you give it, namely the amount you want to borrow, the duration of the refund and possibly the type of purchase that concerns.
Simplified example for a fixed APR of 3.50%. Amount requested: 1000 €, repayment duration: 12 months. Calculation: 1000 x 3.50% = 1035 € for the total amount of the credit and 86.25 € of monthly payments. Attention, this total amount and the monthly payments also vary according to the duration of borrowing.
The 3 big advantages of the online simulator
- Visualize concretely the possibilities of loan and repayment of a credit consolidation. The simulator gives an overview and allows you to adjust your loan, according to your needs, your possibilities and the amounts practiced by the specialized organizations.
- Anticipate the impact of the loan on a daily basis thanks to the calculation of monthly payments. Having a real glimpse of the money to be paid back every month makes it possible to anticipate the adjustment of possible expenses of everyday life.
- Compare the different offers with more precision thanks to the credit simulator: before making your choice, the comparator directs you towards the best offers. From there, the simulator deepens your project and accompanies your final choice.