Consumer credit: to know everything about leisure credit

If you’ve visited websites offering consumer credit, you’ve certainly noticed that some of them offered leisure credits. The Credither Guide explains the terms and conditions for this type of financing. for clarification

What do we finance with a leisure loan?

What do we finance with a leisure loan?

The question is legitimate because the term “leisure” is both broad and vague. This type of loan can finance for example travel expenses (in this case, we can also talk about travel credit), the purchase of computer equipment (computer, printer…) or the acquisition of capital equipment. house (home theater, washing machine, etc.).

The stakes are not trivial. According to a survey published by INSEE in March 2017, spending on culture and leisure rose in 2015 by 1.3%.

Another study, published by the former Sofinscope, establishes the annual average budget spent on leisure by the French in 2016 to € 601.

Credit leisure, consumer credit, personal loan… what differences?

Credit leisure, consumer credit, personal loan... what differences?

The leisure credit is a consumer credit, yet it is not included in the list determined by the Consumer Code (personal loan, revolving credit and credit affected).

In reality, the leisure credit is a trade name. Conso loan companies use this term for reasons of simplicity and comprehension: a work credit, a car loan or a leisure loan is more about borrowers than an assigned credit, a revolving credit or a personal loan.

Behind the name “leisure credit”, credit organizations usually offer a personal loan or a revolving credit, usually according to the amount requested.

The terms of the leisure credit

The terms of the leisure credit

The leisure credit remains subject to the terms and conditions provided by the Consumer Code. Clearly, the loan must be between 200 € and 75 000 € for a minimum period of 3 months. The interest rate is set by the lending agency while the borrower insurance remains optional. In addition, the borrower must be of age and not appear in the FICP (Personal Credit Loan Incident File).

How to get the best leisure credit deals?

How to get the best leisure credit deals?

There is no secret, the best way to get the best financial conditions for your leisure loan is to compete with lenders. Our personal loan comparator specifically allows you to access the main market players and benefit from the best proposals.

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