Vacation Credit
How to find the best credit to finance a vacation?
To go on vacation and have fun you sometimes have to go through the credit box. However, it is important to think carefully before vacations and travel are services of regular and recurring use. If 60% of French people say they want to leave between June 15 and September 15, only 40% are sure to leave, and 40% are sure not to leave. Holidays have a stated budget of 900 us dollars on average, indicating that it is mostly a holiday in France.
Before making a loan for a vacation, you must think about the repayment period. Indeed, if you plan to take credits for your vacation, you must keep in mind that you must fully repay your credit before taking a new one. You should not “stack” different vacation credits.
Example for a holiday credit of 5000 us dollars over 12 months
To help you make the right choice, we have compared the cost of credit, that is, what you will actually pay!
Personal loan simulation Vacation of $ 5,000 in 12 months | ||||||
| # | Etab. | Mens. | Cost of credit | |||
|---|---|---|---|---|---|---|
| 1 |  | $ 420.49 | $ 44.81 | |||
| For a credit of 5000 us dollars, you repay 12 monthly payments of 420.49 $ (excluding insurance), for a total cost of 44.81 $. No administration fees. APR from 1.70%. | ||||||
| Apply online on Paydaychampion | ||||||
| 2 |  | $ 423.86 | $ 86.32 | |||
| For a loan of 5000 us dollars, you reimburse 12 monthly payments of $ 423.86 (excluding insurance), for a total cost of $ 86.32. No administration fees. APR from 3.17%. | ||||||
| Apply online on Younited credit | ||||||
| 3 |  | $ 438.90 | $ 266.80 | |||
| For a credit of 5000 us dollars, you reimburse 12 monthly payments of 438.90 $ (excluding insurance), for a total cost of 266.80 $. No administration fees. APR from 10.15%. | ||||||
| Apply online on FLOA bank | ||||||
| 4 |  | $ 438.91 | $ 266.92 | |||
| For a loan of 5,000 us dollars, you repay 12 monthly payments of $ 438.91 (excluding insurance), for a total cost of $ 266.92. No administration fees. APR from 10.15%. | ||||||
| Apply online on Paydaynow | ||||||
| 5 |  | $ 438.91 | $ 266.92 | |||
| For a loan of 5,000 us dollars, you repay 12 monthly payments of $ 438.91 (excluding insurance), for a total cost of $ 266.92. No administration fees. APR from 10.15%. | ||||||
| Make your request online on Cofinoga | ||||||
* Subject to acceptance by the lender - Update: 11/01/20
(*) The results and rankings presented on rkenneylaw.com are based on a selection of financial companies based on the following criteria: the APR, the duration, the amount borrowed and the purpose of the loan. All the companies presented are recognized by the entire profession and are part of the ASF (Association Française des Sociétés Financières). The rankings made on the basis of the total cost are given for information only and do not in any way constitute a contractual commitment. We urge you to carry out a simulation in all cases before applying for credit.
(**) The rates presented (fixed APR) correspond to the applicable minimum rates and are indicative. They are likely to change after the in-depth analysis of your request
You have 2 financing solutions to finance your vacation on credit.
Questions to ask yourself:
- for a financing of more than 5,000 us dollars it is more practical to take a personal loan . You can choose the duration by trying to stay under the 12 month repayment. It is generally on these ultra-short terms that the rates are the most interesting.
- for financing of less than 5,000 us dollars you can opt for a revolving credit . Again, it is generally the shorter durations which are the cheapest. Choose the highest monthly payments according to your budget.
Comparison of revolving account rates for vacations
To help you make the right choice, we have compared the highest and lowest rates according to the revolving credits of each establishment.
| Establishment | Lower rate | Rate + high | Calculation according to ... | subject to acceptance by the lender |
|---|---|---|---|---|
| 1 |  | 8% | 19.9% | repayment speed |
| The higher the monthly payments you pay, the lower the rate, and the shorter the repayment term. The lowest rate is reached by repaying over 6 months | ||||
| 2 |  | 12% | 12% | no modularity |
| The rate does not vary by use or amount. | ||||
| 3 |  | 11.30% | 20.04% | repayment speed and amount |
| The more you pay off high monthly payments, and the more you borrow, the lower the rate. The lowest rate is achieved by repaying more than US $ 3,500 over 23 months. | ||||
| 4 |  | 13.20% | 20.04% | depending on the amount |
| The rate varies depending on the amount used. The lowest rate is reached by repaying over 3000 us dollars. | ||||
The case of "exceptional" holidays
Honeymoon, round the world, 50 years of living together… there is no shortage of opportunities to take a long trip, generally abroad, and to take "THE trip of your life"! Everyone has their own style, heavenly beaches, exceptional places, dream cruises, trekking in magical places… but it is also a budget as a result!
For "non-standard" trips, you must take out a personal loan by opting for slightly longer credit terms while making sure to stay within reasonable limits (24 or 36 months).
In any case, remember that once the holidays are over, they turn into "beautiful memories". It is better not to pay for memories again 18 months after coming back!
The French and vacation credit
The French are among the Europeans who borrow the least to go on vacation or travel. If 25% of English people and 14% of Spaniards take a loan to go on vacation, French households are only 4% to take out a loan for this reason. We are still far from the Japanese who are 70% to make a credit for travel!
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