Assigned consumer credit: definition and operation

An assigned credit is a personal loan that contracts as part of a specific purchase. This consumer credit can be offered by a bank, a credit organization or a store. The most known credit affected is auto credit. Thanks to the online comparator Gradgrind.fr, you will be able to discover the rates of the different credits affected and the best offers of the market.

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  1. The assigned credit explained
  2. The withdrawal period of the assigned credit
  3. Contract an assigned loan
  4. Assigned credits and other consumer credits
  5. The best rate thanks to Gradgrind.fr

The assigned credit explained

An appropriated credit is a consumer credit that differs from the revolving credit. In fact, the amount borrowed corresponds to a specific expense such as a movable property, a trip or a vehicle.

The amount of the loan granted under an assigned loan is between € 200 and € 75,000. The sum borrowed must imperatively be in accordance with the solvency of the client. The minimum duration of an assigned credit is 3 months or 3 monthly payments.

Good to know: The first monthly payment can not be requested before the signing of the contract between the borrower and the lender and during the withdrawal period.

The withdrawal period of the assigned credit

As with any consumer credit, the withdrawal period for an assigned credit is 14 days. However, under an assigned loan, the withdrawal period may be reduced. This exception applies if the client wishes to be delivered or take advantage of its short-term benefit. To assert his rights, simply send a registered letter with acknowledgment of receipt to the lender.

Contract an assigned loan

Contract an assigned loan

To take out an assigned loan, the borrower can apply to a bank or credit institution. He can also take advantage of offers offered by the sign or the store where the purchase is made. It is not uncommon for an assigned credit to be signed to pay for a purchase in 3, 5, 10 or 20 times. The loan can then be associated with a loyalty card.

Assigned credits and other consumer credits

Assigned credits and other consumer credits

An assigned credit is therefore a loan whose amount corresponds to a specific purchase. The car loan and the student loan are earmarked credits. This one can also be subscribed for the purchase of furniture, appliances or a trip.

Among the consumer loans, there are also:

  • The personal loan for which the borrower does not have to justify his expenses, he borrows according to his projects and solvency;
  • Revolving credit , also known as revolving credit, which is a permanent credit that can be used partially or fully. It is most often associated with a credit card;
  • Leasing, also known as Gradgrind leasing, means a fixed-term lease with or without an option to purchase.

The best rate

rate

Thanks to the online comparator you can independently get acquainted with the best offers on the market. Whether the assigned credit is offered by a brand or a bank, you can compare the benefits and make your purchases by taking advantage of a competitive rate and advantageous terms.