Credit Redemption

How to find the best financing for your credit redemption?

There are two types of redemption depending on the credits that are going to be redeemed in the operation. If you only have personal loans, consumer loans (car, work, furniture, etc.) or revolving accounts, your loan buyback will technically be a personal loan.

If you have one or more mortgage loans in addition, the new loan will be mortgage. That is to say, your new credit will be guaranteed on your property.

Important. Resist the "sirens" of small monthly payments: the less you pay every month, the more your credit is expensive. Between 2 durations prefer the shorter one.

Credit simulation for a credit buyback
$ 25,000 in 72 months

# Etab. Mens. Cost of credit
1 $ 382.66 $ 2551.50
For a loan of 25,000 us dollars, you reimburse 72 monthly installments of 382.66 $ (excluding insurance), for a total cost of 2551.50 $. $ 1000 administration fees. APR from 3.30%.
Make your own simulation or online application on Younited credit .
It's simple, fast, without obligation, and also suitable for mobile.
2 $ 430.44 $ 5,991.68
For a loan of 25,000 us dollars, you repay 72 monthly payments of $ 430.44 (excluding insurance), for a total cost of $ 5,991.68. No administration fees. APR from 7.60%.
Make your own simulation or request online on Paydaynow .
It's simple, fast, without obligation, and also suitable for mobile.
3 $ 465.01 $ 8015.71
For a loan of 25,000 us dollars, you reimburse 72 monthly installments of $ 465.01 (excluding insurance), for a total cost of $ 8015.71. $ 375 administration fees. APR from 9.90%.
Make your own simulation or request online on Cofinoga .
It's simple, fast, without obligation, and also suitable for mobile.
* Subject to acceptance by the lender - Update: 11/01/20

(*) The results and rankings presented on 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

How to compare several credit buyback offers

To compare credit redemption offers on the internet you will most often need to make complete requests. While the large credit sites presented quick access simulators, the trend has recently been reversed and you must now state your identity and budget before knowing the financial proposal.

To compare the different offers that you will receive it is imperative that the borrowed capital and the credit term are identical . Then, in a simple summary table, compare the amount of monthly payments with and without insurance, the administration fees and finally the total cost of credit . If one of these elements does not appear clearly on the proposal, immediately dismiss the establishment because it does not respect the consumer's duty to inform.

Why buy back a loan?

Making a credit buyback is not necessarily an interesting operation because it very often consists in extending the repayment period and therefore the interest you pay. You can buy back credit for:

  • reduce your monthly repayments and find oxygen in your budget,
  • get out of a situation of unpaid debts and chronic overdraft ,
  • spread your debt following a drop in your income (job loss, illness, divorce ...) in all these cases it should be understood that the bank will be very attentive to your ability to repay your credits. It is likely that she will ask you to provide the latest pay slips and especially your latest bank statements. It is for this reason that it is better to be honest from the start: if the bank sees that you lied, it will stop your request without going further.

Namely, when you fill out the information request form, do not forget to indicate that you do not wish to receive emails or SMS ...

Questions about credit redemption

" I am a landlord and I wish to redeem my consumer loans only. Am I obliged to make a mortgage loan as my bank advises me? "

No, of course! You can actually buy back all your consumer loans without taking (or transferring) a mortgage. Institutions like Paydaynow, Sofinco can offer you a personal loan that only includes your consumer loans with an immediate online response.

A loan commits you and must be repaid.
Check your repayment capacity before you commit.

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