MonthApril 2020

How to successfully buy back credit?

Here are the keys to successfully buying back credits, from the choice of organization to the comparison of offers, our experts will advise you. An editorial over at

Successful repurchase of credit: understanding the transaction

Successful repurchase of credit: understanding the transaction

To succeed in your credit consolidation project, you must first understand how it works. It is a banking operation which consists in having its loans repurchased (that is to say that the new lender reimburses the old lenders) by a specialized establishment, which then offers a credit contract with new terms and taking over the are remaining to be reimbursed.

The purpose of the credit repurchase is to reduce the amount of the monthly payments by extending the duration of repayment. Three structures can offer this offer:

  • The bank (personal or concurrent)
  • The broker (or bank intermediary)
  • Specialized credit institutions (often subsidiaries of large banking groups)

Simulate your online financing for free

Simulate your online financing for free

The success of the operation depends above all on filling in the request or simulation form. The closer the data to reality, the more accurate the estimate will be. It is important to inform the organization of its financial situation as a whole, that is to say not to hide credits, to partially fill in the cartoons or not to mention a file at the bank.

As the supporting documents are compulsory for this type of transaction, the financial adviser will discover the missing information and the borrower will have lost time in his efforts. Worse, if the borrower does not provide the allowances received, for example, he may be refused while informing them of his project may become feasible. The degree of feasibility depends above all on the financial information provided.

Know the offer and subscription methods

Know the offer and subscription methods

It is rather recommended to put a bank and a broker in competition, that is to say to fill out a request with each structure and then evaluate the offers. Once the offers are obtained, here are the elements to compare:

  • Amount of the loan
  • term of the loan
  • APR (assesses the cost of credit)
  • TAEA (allows to assess the cost of its insurance)
  • Amount of monthly payment
  • Total cost of credit

Important, group insurance is sometimes very expensive, going through a broker and the principle of delegation of insurance, the borrower can earn up to 50% of the cost. A significant gain on a new reduced monthly payment.


Over Credit Makes It Easy To Have A Dream Car

Having a dream car is satisfactory. If buying a used car feels uncomfortable, buying a car on credit can be an option. Make sure you understand the intricacies of over credit as described above so that you can get the maximum results of over-credit the vehicle. And don’t forget to always pay close attention before making any decisions during the over credit process.

Before taking over a car, there are a number of things that need to be considered in relation to applicable legal provisions. Do not let because of your ignorance to take over credit under the hand or without involving a car leasing company.

What is meant by underhand credit take over?


Underhand credit take over is an activity carried out by the debtor in an effort to transfer his credit payment obligations to another party but without the knowledge or involvement of a leasing company. This is of course categorized as unlawful acts. Because the car used is a guarantee of debtor debt on leasing.

If problems arise later due to underhand credit take over, the leasing company can sue the first buyer recorded in the lease as a debtor to provide compensation. Therefore, do take over credit safely and in accordance with applicable procedures.

Car Purchases Over Credit

Buying a car on credit does provide convenience. However, if you are not careful in managing your finances, you may fail to pay installments until the credit period ends. Therefore, consider carefully before taking the car on credit.
One type of car loan that you need to know is ballon payment.

This system requires consumers or debtors to pay a car DP of at least 30% of the price of the car. Then in the first year, consumers repay by 20% of the price of the car. In the fourth to fifth years, consumers pay the remaining installments by 50%.
This is one reason why many people ultimately decide to sell a car before the credit period ends or over credit. They make credit transfers to others because they gradually have difficulty continuing to pay car loans.

Profit and Loss Buying Cars Over Credit

What if someone offers their car over credit to you? What should be known? Any advantages and disadvantages if you decide to take a car that has not yet finished its credit. Below, the advantages and disadvantages of owning a car are over credit.

Advantages of Buying a Car on Over Credit

Advantages of Buying a Car on Over Credit

In general, buying a car over credit gives some advantages that are not in the purchase of a car in cash. It’s just that it requires precision and accuracy before making a choice.

The first advantage that can be obtained from buying a car over credit is that the car obtained is still relatively new. The age of the car over credit is still in the process of payment on credit so that the condition is still new. For that, you don’t need to worry about the condition of a car engine which is guaranteed to be relatively new.

In addition, the following benefits can be obtained when buying a car on credit:

Prices are cheaper than prices on the market

You can get prices that are relatively cheaper than prices on the market by negotiating with the seller to determine a suitable price. Even so, you will usually still get a cheaper price than buying a new car on credit. Because in general, the average reason a seller decides to take off his car is because of his difficult financial condition.

A car warranty is still valid

A car warranty is still valid

If you buy a car on credit, one of the benefits that you can get is the validity of the warranty on the car. Because cars sold over credit are young. An automatic car warranty is also still valid so you do not need to worry if one day the car is damaged.

Take advantage of low-cost insurance premiums

You certainly know if the premium for new car insurance with used cars is definitely different. Car insurance premiums with a vehicle age of more than 5 years are usually more expensive. While cars sold over credit because of their new age, the value of insurance premiums imposed will be lower.

Shorter installment/tenure period

For example, the seller takes car loans for 60 months and has paid installments for 24 months, you only need to continue the remaining credit time, which is for 36 months.

Buying a new car on credit might not be easy for some people. Because credit providers will conduct a survey to find out whether those who apply for credit are eligible for credit or not. However, that may not apply if you buy a car on credit. You don’t need to go through a series of surveys like new car buyers to get a car.

Don’t forget to pay your car loan on time, so that your credit score and digital transaction trail are in a good score so that your credit score is also good because this will all affect your digital credibility. Paying car loans is even easier with the Giant application that will help you see your credit score and credit score will go to the track and you will also get a giant score too.

Redemption of credits for job seekers.

Being unemployed temporarily or more permanently can worsen your financial situation, and lead to a decline in your debt capacity. With a reduced income (unemployment benefit and no longer income from a CDD / CDI job), your finances can be unbalanced, and your difficulties can multiply.

If this is the case, do not allow the situation to drift into over-indebtedness or even a bank card (with the Demo lender bank). Intervene, especially if you can with the repurchase of credits.

Being unemployed is not incompatible with buying back credits

Being unemployed is not incompatible with buying back credits

If you are in prolonged unemployment, or your salaried activity has just stopped, you can claim the repurchase of credits for unemployed. Indeed, not having a professional activity can sometimes lead to the subscription of consumer loans or revolving credits in order to honor debts.

Multiplying credit lines and going into debt sometimes leads to too much debt. Consolidating loans will help you reduce the weight of your monthly payments and reduce the amount you pay back each month. All your credits combined into one will have a lower monthly payment than all the monthly payments currently accumulated. In exchange, the repayment period will be extended.

The advantage is that with an unemployment benefit logically lower than your previous income, you will now have enough money to pay off your debts and continue living. Being unemployed is not incompatible with debt restructuring!

On the contrary, grouping loans is a technique that can help you and targets in particular people without activity. Do not neglect this path which, in addition to an active job search, can help you get out of it.

Request a loan buyout while unemployed

Request a loan buyout while unemployed

The system allows the repayment of debts to be spread over a new period, but assumes that the banking organization has a certain number of guarantees. The banks want to ensure that the client has real professional stability and good creditworthiness. Without these conditions, the operation is doomed to failure. How to present these guarantees while being unemployed?

  • Present the state of your finances and show that you have no payment incidents on your bank account. You have to prove your desire to find a way out of this tense financial situation;
  • Explain why you are currently unemployed, and in particular explain your previous professional situation. Your contact will be sensitive, for example, to the fact that you are unemployed following the financial difficulties of your previous business, but that you already have opportunities to find a job. Show that you have a proactive vision and that you want to return to the world of employment. If you have a promise to hire, now is the time to present it;
  • Take into account your unemployment benefits and allowances. Thus, compensation paid by ASSEDIC (Association for employment in industry and commerce) can be seen as regular income, if your rights run for several months, while waiting to find a job. Ditto for pensions (divorce) or any other income that has a recurring nature (rent received, annuity);
  • If you own your property, it can serve as a personal guarantee, and constitutes a strong guarantee for banks;
  • Finally, present a co-borrower with a stable professional situation. You can request a couple restructuring, even with debts taken out in the past on a personal basis. If your co-borrower is employed on a permanent contract, he will bring real solidity to your file.

Being unemployed is not a barrier to requesting support! Beyond income from work, all sources of income but also your personal situation are evaluated criteria. Remember to provide guarantees to enhance your file, thanks to your spouse for example.

Contact the Good lender advisers to find an answer and find out if the project is suitable for your profile! An advisor will take care of your request and will be your single point of contact. It will give you an answer in principle in just 24 hours.