Cheap and fast credit: the best rates of consumer credit

 Is it possible to get cheap and fast credit at the same time? An emergency, unpaid bills, a short-term project: many events can explain a pressing need for money. We will see that there is a certain logic to respect in order to give yourself every chance of obtaining cheap credit as quickly as possible.

Cheap and fast credit: is it really possible?

Cheap and fast credit: is it really possible?

You should know above all that there is a legal framework imposing a minimum period of 8 days before receiving money from a consumer credit. All solutions (personal loan, car loan, work loan, revolving loan) are affected. Now let’s look at the important criteria in a quick cheap loan search, namely:

  • The APR rate
  • Immediate response and no surprises upon arrival
  • The time for receiving the money

Comparing rates is a priority 

Only a comparator connected to the main credit organizations makes it possible to differentiate a fast cheap loan from another much too expensive. Based solely on the APR rate, our tool has been designed to offer everyone the cheapest credit, among all the major organizations.

That is to say without false rate or unpleasant surprise between the time of pre-acceptance and the final response. Updated during each rate change, our classification avoids going to carry out repetitive simulations directly with several operators. This saves time but also guarantees you get a clear view of the best online credit offers.

Why is the APR rate so important?

Our comparator focuses only on the APR rate, the benchmark in the field of consumer credit. The APR (annual effective annual rate) reflects the real cost of a loan. It includes the interest on the loan, but also any administrative costs. Once the APR rate is known, it is easy to determine the total cost of your loan, as well as the monthly payments associated with the duration of the loan.

How to get a fast credit agreement?

How to get a fast credit agreement?

Identifying a cheap credit by ranking the APR rate does not matter if the credit is impossible to obtain. Each situation is indeed different, and the acceptance criteria for organizations are always different. It is for example possible that Bankate accepts a 10,000 USD credit over 48 months but that this same request is refused by Viloan or via a cheap Zaloan credit.

This is the reason why our comparator does not stop at a simple classification of rates. Connected to organizations in real time, the tool is able to provide an immediate response in principle. It is therefore possible to obtain a cheap and fast credit agreement in the space of four minutes, without any commitment.

Fast cheap credit: how to use our comparator

Let’s take a look at the right way to search for cheap credit online, thanks to our comparison tool:

  1. Define your project (type of credit, amount, duration) and start the free simulation.
  2. Fill out our credit form in four basic steps (identity, address, location, budget).
  3. The tool calculates the best APR rates of the moment according to the criteria entered and immediately questions the best.
  4. In the event of a positive opinion from the best online specialist (acceptability> 50%), confirmation takes place by email within 24 hours.
  5. When the best organization is unable to provide an immediate favorable opinion (dossier under study or acceptability <5%), it is possible to query the next two in the ranking with a single click. This possibility actually offers three chances to get a cheap fast credit that is immediately pre-accepted.

What is the cheapest credit?

What is the cheapest credit?

You should know about the lowest APR rates generally correspond to the shortest durations. However, be careful not to select a too short duration, at the risk of being confronted with a refused credit. There are no specific rules, although it is known that the debt ratio should generally not exceed 33%. Many other criteria come into play, such as professional status and financial guarantees.

Can my bank offer me fast cheap credit? 

Banks rarely offer the best consumer credit deals. Conventional establishments have given way to online credit organizations. The latter have much more experience in the field, particularly in terms of risk management. Specialists like Viloan, Zaloan and Bankate have nothing more to prove. Note above all that the banks still force most of the time people interested in consumer credit to open an account.

Bank credit is only interesting for customers with significant guarantees or a reassuring history in the establishment (significant savings, lack of overdraft, good account management, etc.). Only these customers can a priori have access from time to time to more advantageous offers than those of large credit organizations. However, nothing costs to get information from your advisor or to carry out a credit simulation online in your personal space.

The types of loans decrypted

Let us take a closer look at the different types of consumer credit, in order to identify, for example, what supporting documents will or will not be requested in a second step.

Type of credit requested What there is to know
New car / motorcycle loan
  • Proof of purchase or purchase order required
  • Low fixed APR rate
Used car / motorcycle loan
  • Proof of purchase or purchase order required
  • Fixed APR rate slightly less attractive than for a new car loan
Personal loan
  • Credit without proof of use of money
  • Fixed APR rate very variable from one organization to another
Need money or loan all projects
  • Rates identical to those of the personal loan for any request> 4000 $.
Works loan
  • Proof of achievement or order form required
  • Very advantageous fixed APR rate
Redemption of credits
  • To group several credits into a monthly payment that is easier to repay
Home loan
  • The best alternatives depending on the target project.
Any credit request below 4000 $
  • Proposal of the best revolving credit solutions.

The case of mini credit, a small quick but very expensive loan

The case of mini credit, a small quick but very expensive loan

Some companies like Astro Finance or manucredit have specialized in the mini credit market. Their offers do not however fall within the framework of consumer credit. The loan must therefore always be repaid in less than 90 days. However, these solutions allow access to a sum of money ranging from $ 50 to $ 600 in 48 hours, without having to wait for at least 8 days as in the case of consumer credit. So it’s a quick loan, but the rate suffers a lot.

These mini credit solutions are indeed very expensive: the APR rate is placed at 20.00% on average. The interest payable is not always important for such a short period, but the invoice can be very steep when the option becomes systematic. It is often much more interesting to opt for a small revolving credit to be reimbursed in 6 or 12 months.

Learn all about Refinancing

December 14, 2019