After several dark years for consumer credit, 2017 seems to be the year of economic recovery. With green indicators and confidence being found by the French, consumer credit is increasing driven by increasingly attractive rates.
A lower average borrowing rate
Like the real estate rate, the rate of consumer credit has declined significantly in recent years. It rose to 3.86% in April 2018. The higher rates of the previous years, coupled with a lack of optimism among households, led to a consumer crisis. She seems today behind us. Indeed, the economic indicators are rather favorable. Growth accelerates with inflation and unemployment goes below the 9% threshold. These data are reflected in the rise in household consumption, particularly in the automotive sector. The decline in the cost of credit has also contributed to this growth.
Short credits to benefit from the best loan rate
If the overall borrowing rate is around 3.86% in the spring of 2018, it is necessary to distinguish between short-term loans and loans to repay over several years. Borrowing over a period of six years, or 72 months, is quite expensive. The rates exceed 4% under these conditions. On the other hand, it is possible to borrow at an extremely low rate when monthly payments run for only 12 months. For the acquisition of a vehicle or a personal loan, you can claim a rate of 0.75%, a cost of credit of € 60 for a borrowed capital of € 15,000. In order to fully understand the interest of the fall in rates, compare with the situation in December 2014. The 12-month rate was 2.75%, a cost of € 221 for the same capital borrowed.
Lower the consumer credit rate again
It is not always possible to take out a 12-month conso loan because monthly payments can be too high. One solution is to solicit new forms of credit. Using a credit platform provides a fair and competitive rate and other benefits. Funds can be unlocked very quickly. The procedures are carried out online and no proof is requested concerning the use of the requested capital.