Tips for getting a leisure loan
Posted on June 6, 2017 by Marion
Leisure is part of the lifestyle of consumers. Consumer credit offered by banks includes a type of loan called leisure credit.
The leisure activities remain very vast. It can be sports, a video game console, a home theater or just a tablet.
Leisure credit is used to finance vacations
Travel is ranked among the most popular hobbies. Leisure credit is increasingly being assimilated to vacation credit.
On a technical level, the leisure credit is an affected credit. The borrowed money is intended exclusively for the declared use and justified by accounting documents. The borrower purchases the trip and presents the pro-forma invoice as the supporting document for the loan application.
To obtain a leisure loan, there are rules
The borrower defines the leisure activities he intends to finance. It gathers the supporting documents concerning the purchase. For example, for a vacation, the borrower establishes a quote with a travel agency.
This concerns plane tickets, the costs of transport, accommodation and meals on site. We must add the cost of recreation. A pro-forma invoice is established. The leisure credit application is drawn up on the basis of this document.
The elements of the loan are negotiated: amount, rate, monthly payments, duration, borrower insurance required for vacation credit. The borrower is an adult. He has a good banking profile therefore not registered with the FICP.
It is advisable to compare the offers
Leisure credit can reach US $ 75,000. The APR ranges from 4.5% to 9% depending on the lending organizations.
It is good to perform a simulation on a specialized site. The borrower can know his financial capacity and compare offers for cheap leisure credit.
This type of loan is also negotiable online. The borrower will have the great advantage of not having to travel to obtain the loan.
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