The end of the holidays is already here. It's time to think about back to school and all the expenses it entails. Indeed, this time of year is conducive to exceptional charges. The cost of back to school is not negligible , it is better to know the tips so as not to break the bank !
Not to mention that for the majority of French households, it will be necessary to pay the third installment of income taxes. Some households will therefore resort to credit in order to meet these expenses. We therefore provide you with the advice you need to finance your return to school at the right price and on credit.
Renewable Credit: A trap to avoid!
The most accessible financing offers remain revolving credits. Just like credit organizations, large commercial brands offer them to their customers. To obtain this type of financing, nothing could be simpler.
Sometimes, a simple identity document is enough to release the funds and this immediately. Don't get caught up in such ease . If these advantages are very attractive, we must not forget that this type of loan remains the most expensive for borrowers.
The interest rates applied to revolving credits can be around 20%. This is more than double compared to consumer loans. Don't think at any time as a consumer that revolving credit is a viable solution !
If you are going to use the cash reserves for X rasions, we recommend that you proceed with a revolving credit consolidation to turn them into a single fixed rate amortizing loan . It is much safer for the good management of the family budget.
Personal credit: the best way to finance your return to school at the right price
The ideal interlocutor to discuss the subject of financing your return to school remains your banker. Banking organizations offer amortizable loans adapted to the different needs of the consumer (s).
Before accepting the loan offer that your bank advisor will submit to you, it should be analyzed very carefully to finance its return at the right price. So the interest rate is not the only crucial element.
The application fees and the cost of borrower insurance should be compared with what the competition offers. To make this comparison, it suffices to perform online simulations on the websites of financing institutions.
Cash from loan repurchases: an opportunity for the most indebted
Households whose financial burden is already too heavy can count on a credit buyback operation . In addition to solving the budgetary problems of a debtor, it is possible to add a cash envelope allocated or not to a specific expenditure.
This envelope can in particular make it possible to finance the return to school at the right price without stress. To make the best choice in terms of loan consolidation, it is better to use the services of a specialist . The added value of a loan restructuring broker is not negligible.
On the strength of partnerships with banks specializing in loan repurchases, the broker will be able to offer you the financing offer that is best suited to your situation and your expectations. In short, to finance your return to school at the right price, it is important not to rush.
Revolving cash envelopes turn out to be a real trap for households who have experienced them. This type of credit is at the origin of many situations of over-indebtedness. To make the best choice, the advice of an expert is very useful.