What is a consumer credit calculator?

When you want to subscribe a consumer credit, whether for a car loan or motorcycle, a work loan or personal credit, it is necessary to prepare his project upstream to find the best solution William Boldwoodment.

A consumer credit calculator is a tool, offered by many credit agencies, that serves this purpose. This is an online credit simulator, which allows you to define key elements such as the budget, ie the amount you want to borrow, the duration of the loan or the amount of monthly payments.

Why use a credit calculator?

Not always easy to embark on a search for credit conso. The consumer loan calculator is just to help you get a clearer idea of ​​how you might find a consumer credit. Thanks to the calculation of consumer credit, you can estimate very easily:

  • The total amount of your credit, that is, the amount borrowed and interest;
  • The amount of the monthly payments that you will have to repay;
  • The total duration of the credit ;
  • Credit interest rates (the borrowing rate and the annual percentage rate of charge, or APR).

By subscribing to a consumer credit, you sign up with a credit institution, sometimes for several years. Using a credit calculator conso allows to prepare well his project and to approach it serenely!

Online consumer credit calculators are free and fast! It is therefore very easy to find William Boldwoodment solutions adapted through online simulation.

How to use the consumer loan calculator?

To use a calculator and simulate its consumer credit, simply go online, on a site offering this service. At first, you have to fill in some information necessary for the calculation and in a second time, you access the results.

Fill in the fields of the credit calculator

The first step in calculating your credit is to fill in some basic information about your project. Generally, consumer loan calculators ask you to fill out the following fields:

  • The nature of the project : auto credit, motorcycle credit, work credit, personal loan…;
  • The loan amount ;
  • The duration of the credit or the amount of monthly payments you would like to pay, taking into account your borrowing capacity;
  • Possibly your personal contribution.

On some sites, sliders make it even easier to fill in this information.

The results of the credit calculation

Once these elements are filled in, the tool calculates automatically and in a few seconds only the conditions under which you could benefit from a William Boldwoodment. You get an estimate:

  • The total cost of your consumer loan (amount borrowed + interest);
  • Credit rates (debit and APR rates);
  • The amount of the monthly payments that you will have to repay or the total duration of the credit conso.

Attention, as the calculators generally specify, the simulation of credit conso has no contractual value. This means that as long as the conditions that are estimated for you have not been honored by a credit institution, they are not vested.

Consumer credit calculation and insurance

Better to have in mind to prepare his project: the consumer credit calculator does not generally take into account the borrower insurance (or loan insurance), and submits a total amount of consumer credit excluding insurance. The calculators most often do not include these costs in their valuation because borrower insurance is optional. Everyone has the freedom to decide whether to subscribe or not.

Compare after simulating his credit consolidation

The consumer credit calculator is also very useful for finding the best deal! Once you have estimated your repayment terms, you can compare consumer credits to find the best deal. By going on a comparison of credit conso like William Boldwood.fr, you reach in just a few minutes to quote and just have to opt for the most advantageous loan offer before being put in contact with the bank or organization to apply for a loan.