You have a project in mind but do not have the finances to make it a reality? It is still possible to subscribe a consumer credit over several years.
You are looking for a credit conso to finance your projects? You want to make a loan over 120 months to pay lower monthly payments? Find out how to find an offer tailored to your needs.
The different types of consumer credit
Consumer credit is a contract by which the financial institution makes available to a borrower a sum of money which will have to be repaid in a staggered manner over time. There are several types of consumer credit:
- The appropriated appropriation intended to finance a defined good;
- The unallocated credit, the amount of which can be freely used by the borrower. This category includes personal loans and revolving loans.
- The work credit enabling the performance of repair, maintenance and improvement works.
- Bank overdrafts refundable within a period exceeding 1 month.
- The lease with option to purchase (LOA) is also similar to a consumer credit.
More specifically, consumer credit can be subscribed to finance non-professional needs, consumer goods (excluding real estate purchases). Its amount is between 200 and 75 000 euros.
Can I subscribe to a 10-year consumer credit?
The repayment period of your credit depends on your debt capacity but also the willingness of the bank that can allow you to repay over a longer period. For example, for a loan to finance the purchase of a new car, banks usually offer a repayment term of 6 years against 4 years for a credit subscribed to buy a used car.
You can also borrow over 10 years or 120 months to finance work in your home. However, it must be remembered that the longer the credit period, the higher the rate. If the long-term loan allows for lower monthly payments and easy to integrate into the budget, the operation ultimately costs more.
Where to find a consumer credit over 10 years?
Ten-year consumer credit is offered by most banks and financial institutions. To find the best offer, the first step is to define the type of loan you want. You will then need to evaluate your borrowing capacity by conducting an online credit simulation. Finally, we must compare the rates of consumer credit, which can vary significantly from one institution to another. For this, do not hesitate to use a 100% online comparator that will sort the offers for you.
Subscribing a 10-year consumer credit is an act that commits you to the long term. Before signing your loan offer, please note that you have a withdrawal period of 14 days. This period can be used to compare the offers on the market one last time and carefully read the conditions of the contract.
For personalized advice and support throughout the subscription phase, call a broker!