When looking for financing to subscribe to a purchase of credits, it is important to prepare your application. Establishing your budget in advance is an essential step because it allows to define the amount of money needed to settle all outstanding loans, and why not consider additional cash to finance a new project or simply build a small Reserve. To estimate its future monthly credit, no need to complicate life, the Internet has all the necessary tools. These are calculators available on many sites that are completely free to use. It is enough to indicate the amount to be borrowed, the desired nominal rate as well as the duration, to receive an instant result.
The utility of the credit calculator
Credits that have been contracted in the past and that can be combined into a loan pool are those used to finance a project, that is, a purchase or service unrelated to real estate. These are appropriations for acquisition as the car, or a benefit as work, personal loans granted without proof, revolving credit, or LOA, that is to say, with rentals purchase option. The amount borrowed can be between 200 and 75,000 euros in general for a minimum period of three months.
The Conso Credit Redemption Calculator is a tool that has been specifically designed to help a future borrower define all elements of their financing project. These consist of the amount borrowed, the number of years of repayment and the rate of the credit conso. They are the ones who will determine the future monthly payment. In just a few clicks and without any commitment, the applicant can get an idea of how much his monthly payments can decrease through the purchase of credits. The calculator leaves the possibility to modify each information as many times as desired, lengthen or shorten the duration, lower or increase the nominal rate in order to adjust the monthly payment to its repayment capacity. In short, an easy-to-use tool that makes life easier and allows you to preview a light monthly payment with a longer duration, or rather a larger monthly payment and a shortened duration.
When resorting to this type of banking operation, which should not be taken lightly because it is a commitment of credit sometimes on the long term, the calculation of the redemption of credits is an essential step. It makes it possible to evaluate future monthly payments and therefore to establish whether savings can be made every month. Obviously, the result has no contractual value, but it allows without the need to fill out a form, to give an overview of what will be the future monthly deadline. The calculator is provided informatively, but it is a remarkable tool to apprehend and prepare a project to buy conso credits, all without moving from home, and in a fast, simple, anonymous and instant.
The operating mode of the calculator
The use of the calculator for buying conso credits is very simple. Just fill in the requested information in the required fields. As a first step, the calculator will need some basic data such as the monthly income, the rental situation (landlord or tenant), the number of credits conso, and if necessary if the purchase must include a mortgage, and possibly the amount of other types of debt (personal, family, unpaid debts, rent or tax arrears, etc.).
It will then be necessary to provide more details on the credits to be repurchased, that is to say to specify what are the remaining amounts due and the total monthly payments. If the borrower wishes to add to the redemption of credits an additional amount of money he must also indicate it in the field intended for this purpose. Lastly, he must indicate the desired repayment period for the new credit subscribed. Once all these data filled in, it will only have to click on ‘calculate’ and the result will be displayed instantaneously.
Now that the amount of the future monthly payment is known, even if only informally, the borrower can go further. How? Using the other simulation tools of the purchase of credits conso. He can very well use it to know his debt ratio, but also the remaining capital, as the notary fees. Thanks to these tools he will also have access to a future amortization table.
Good to know: It is possible to use the calculator as many times as you want, without any commitment and without being contacted or solicited by a consultant. The calculations can be made with several desired durations, just as several amounts can be indicated to compare the different results.
The objective of the purchase of credit is to bring the household more financial comfort through a new single loan, the monthly payment will inevitably be revised downward. This action leads to an extension of the repayment period. The ideal is not to wait until the financial situation is too difficult before making a comparison, because it is a banking operation that takes time. Having found the offer that best fits his situation and his repayment capabilities, it must consist of a solid file and have a financial package that takes into account all the reorganization of loans and outstanding debts.