Consumer Credit: The Comparison Of Online Offers

Consumer Credit: The Comparison Of Online Offers

Consumer credit makes it possible to borrow a specific sum of money over a repayment period of more than three months. There are several types of consumer credit. The best known are the personal loan, affected credit, and revolving credit.

When it comes to personal loans and affected credit, these two types of loans are very similar. The only difference concerns the use of funds. With the personal loan, the borrower does not have to justify the use of his loan. This is why it is also called credit without proof or cash credit.

As for the allocated credit, whether to finance a car or motorcycle pledge (จำนำมอไซค์, which is the term in Thai), its granting is conditional on the issuance of a certificate on funds. As a result of this distinction, credit institutions generally offer lower lending interest rates when the borrower justifies the use of the loan for an equal amount and repayment period.

How To Choose The Right Consumer Credit?

1. To Choose To Finance

Good credit is the one that best meets your needs. However, it will almost always be considered that depreciable consumer credit will be preferable to a revolving credit or even an overdraft.

Indeed, if you are thinking about borrowing, you surely know for what purpose: purchase of a vehicle, financing of works, or one-time need for cash.

2. Take Advantage Of Promotional Offers With Discernment

Once fixed on your type of credit, it is not a question of taking out one from the first credit institution. It is important to compare the different offers to get the best possible loan.

However, be careful to respect the advertiser’s requirements to take advantage of these advantageous rates. Often, the repayment period is reduced, which increases the monthly payments.

3. Reduce The Cost Of Your Consumer Credit

Finally, now that you have chosen a loan, here are some final recommendations to reduce the cost. First of all, only take out borrower insurance if you feel it is really necessary. Organizations systematically offer one, but it is not mandatory.

However, the higher the amount of the loan, the more it is recommended to insure one’s back. Remember that you do not have to choose the insurance offered by the credit institution.


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