Do you already have a loan in progress, but want to benefit from a better rate? The repurchase of credit is then a solution allowing you to profit from more advantageous conditions while reorganizing the loan. What advantages and what rate can we really hope to obtain?
Why buy back credit?
A credit repurchase consists in somehow “transferring” your credit from one company to another (or even within the same company). The advantage of this solution lies in the possibility of changing the loan conditions:
- Duration : during a redemption, you can modify the agreed repayment duration. By spreading the repayment of the loan over a longer period, you thus reduce your monthly payments.
- Amount : a redemption can also be accompanied by a credit supplement .
- Rates : the repurchase of credit is also an opportunity to renegotiate the rate , generally downward.
What rate can we hope to obtain?
The repurchase rate of credit will depend essentially on your financial situation and your antecedents. In order to get a lower interest rate:
- Make sure you present your financial situation in the best possible light , especially remember to declare any incidental income.
- Make sure you have paid all of your current personal loan bills regularly and on time.
The rates applied to loan redemptions are the same as for loans, namely between 5.9% and 9.9% in Switzerland, depending on your situation. If you have a personal loan with a high rate, see more than 9.9%, the chances will be great to get an attractive drop. To guarantee the best rate for your buyout or combination, it is best to contact an experienced contact such as Multicredit.
Redemption at the same rate?
It may happen that you are offered a redemption rate identical to your previous rate. The redemption can nevertheless prove to be interesting, in particular if you wish to request a supplement or simply reschedule the reimbursement over a longer period. Be careful though, because increasing the repayment tenure will increase your interest rate.