Depreciable credit: where to find the loan at the best rate?

 You are looking for the depreciable loan at the best rate because you know that it costs much less than the other loans. This is indeed the case, but you still have to find the cheapest one and not be fooled by several hundred USD! We regularly check all the offers and the amortizable loan rates of the largest credit organizations in order to offer only the best amortizable credit rates.

Depreciable loan at the best rate

Depreciable loan at the best rate

Depreciable property loan

We talk about depreciable credit to evoke personal credit unlike mortgage. To date, we are not yet a specialist in real estate credit which is also an amortizable loan but intended only for the purchase of a house or an apartment.
If you are looking for a depreciable real estate loan, we can recommend that you approach a real specialist, broker N ° 3 in France, who has a national presence and who respects the 2 essential criteria for Bankate:

  • Get the best rate
  • Take no cost to the customer

Personal depreciable credit

To find the best depreciable credit rate, we regularly read all the rates offered by the largest credit organizations such as Viloan or Zaloan. All of these rates are available on our simulator whatever your project, the amount requested and the desired duration.

But we go beyond a simple amortizable loan comparator, we have developed an exclusive system which allows in addition to obtain an evaluation without commitment from the cheapest organization. We have developed this service so that our customers really get the best depreciable credit rate.
Indeed, when the call rates are too low, this can hide systems which have the sole purpose of making people a first refused request but being offered other much more expensive credits.
Thanks to our system, you can decide to get up to 3 evaluations for the 3 cheapest offers corresponding to your project and thus have a much better chance of actually obtaining the best amortizable loan rate.

Definition of depreciable credit

Definition of depreciable credit

If you want to obtain a stricto sensu definition of depreciable credit, we can only direct you towards that defined by the law on consumer credit: legal definition depreciable credit.

If you prefer a definition in a few words, a depreciable credit is a credit whose duration is defined, whose rate is defined and whose monthly payments are defined. In other words, with a repayable loan, you know exactly what you are committing to. With the big difference of the revolving credit for which these elements are variable.

Another notable difference between revolving credit and depreciable credit is that the latter is generally much cheaper. In reality, this is not always the case and in particular for credit amounts below 3000 USD.

For example, for a 1000 USD loan, it is on the one hand almost impossible to find a depreciable loan but in addition it will be very much more expensive than the revolving loan. All this is due to the practices of credit organizations and to the fact that revolving credit is a flexibility of cash flow (the cheapest, much cheaper than an overdraft) while the depreciable credit is made for larger projects.

If you want another definition, you can also find that of the depreciable loan on Wikipedia.

Auto Depreciable Loan

More commonly known as a car loan or car loan, depreciable car loan is the most common form of credit in France. More than one in two cars is financed on credit. And this is as true for a new car as with a used car loan.

You just need to know that the rates of used auto amortisable loans are a little higher than for new cars. The reason is that in the event of default, the organizations know that they can come and seize the car and that it will be worth more money if they have to resell it to repay the debt that remains.
On the other hand, to be able to benefit from a new auto depreciable credit, you will have to provide proof of purchase of the vehicle in the credit application file.

Of course, on our comparator you will find the ranking of the best auto amortisable loan rates.

Auto depreciable credit is not to be confused with rental, rental with option to purchase LOA or long-term rental LLD. When you see Twingo- type offers flourishing at 129 USD per month or any other car at XX USD per month, it is generally rental.
Communicating about rental has a lot of benefits for builders. The first advantage is that they will earn a lot more money because LOA or LLD rental is much more expensive than credit. This is what we denounced in our comparison of auto credit, LOA or LLD.
The second big advantage with leasing for builders is that with these formulas which are not depreciable auto credit, the law does not oblige to communicate on the rate.

Depreciable works credit

Depreciable work credit is very similar to depreciable car loan in that it works the same way and also requires the provision of proof of work in the credit file. Depreciable works credit also benefits from cheaper rates than conventional credit.
The depreciable works credit can be used both for structural work, boiler installation, veranda installation, creation of a swimming pool etc… and for decoration work. The bottom line is being able to provide an invoice or purchase order at some point during the credit process.
You will have access to the work loan simulation by selecting “Work loan” in our credit comparator at the top right of this page. As with all other types of amortizable loan, you will get the ranking of the best on the market regardless of your project.

Personal amortisable loan

If you need money whatever your project is not directed towards the purchase of a new vehicle or towards work, it is a personal depreciable credit which will answer your research. The personal amortisable loan is dedicated to cover all projects.
It is a credit without proof of use of funds that will be made available to you. It goes without saying that you will have to provide all the other conventional supporting documents for a depreciable credit:

  • proof of identity
  • proof of income: tax notice and salary slip
  • proof of address: EDF invoice, telephone, etc.
  • bank proof: last statement and RIB

The personal amortisable loan is a loan for which you will find rates ranging from 2.80% to 8%. Don’t be shocked by such a fork. It depends on how long you borrow. The shorter the duration of the depreciable credit, the lower the risk and the less expensive it is for the credit institutions.
Do not turn to too short periods compared to your budget to get the best amortizable loan rate because on the one hand the credit organizations will refuse you if your debt ratio is too high and on the other hand, you would risk plunging your budget balance in red at the end of each month and thus fall into over-indebtedness.

Depreciable loan: compare and save

Depreciable loan: compare and save

You may be wondering if comparing the depreciable loan is really worthwhile. So what’s important is to know that nothing is more comparable than depreciable credit. Indeed, there is no color, no material, no quality etc… the only things that matter are:

  1. get your depreciable credit
  2. get it at the lowest rate.

There is therefore no reason to enrich this or that banker when they offer exactly the same depreciable credit. But just starting from the principle of not enriching your banker is not enough for us, the best is to give you proof by example.

Depreciable credit: save hundreds of USD

We wanted to make it simple and accessible to show you how important it is to compare the amortizable loan. Take the example of a 5000 USD loan over 48 months:

Cost of the cheapest credit: 515.20 USD APR rate: 5.00% total cost of credit: 114.90 USD.

Most expensive credit cost: 1,455.04 USD APR rate: 13.96% total cost of credit: 134.48 USD.

This is the reality: for exactly the same amortizable loan of 5,000 USD, you may find yourself paying almost 1,000 USD more. Or almost pay 3 times more for the same depreciable credit !!

And do not imagine that we went to look for a small organization little known for the most expensive credit. It is undoubtedly the best known credit institution. We see him doing his advertisements every day on television !!
So don’t be fooled and compare. But beware, not all comparators respect our ethics as we will see right after.

Depreciable loan comparison: avoid scams

This is the last important point to know to find the best repayable credit rate: most credit comparators are not transparent!

This is one of the reasons why we decided to launch Bankate. Most of our competitors do not offer you real rankings. The way they present things is very much like a ranking but in the end, the only criterion they use is the money they will receive from the credit agencies.
At Bankate, we are convinced that this is not the right method and that customers are not fooled. We therefore transparently show the legal APR rate of the depreciable credit of all our partners. It is moreover by verifying that this rate appears or not that you will be able to realize whether you are dealing with an honest credit comparator or not.

Now you know everything about depreciable credit and how to find the best rate!