The credit simulator is a tool proposed by a financial institution to allow a customer to visualize its ability to repay.
A credit simulator proposed by the lenders
This tool credit is generally available on the Internet and on mobile applications from lenders. The credit simulator is easy to use and positioned on the home page of the sites to be accessible to all Internet users (customers and prospects).
The basics of credit simulation
A credit simulation allows the customer to have visibility on the main characteristics of a desired loan:
- the desired amount,
- the duration,
- the monthly payment,
- the annual percentage rate of charge (APR) and the borrowing rate.
The simulator allows the customer to adjust the duration and / or monthly to find the simulation that best suits his budget and situation.
From the chosen simulation, the customer can directly subscribe online and obtain in a few minutes a response in principle (subject to study and final acceptance of the file).
Optimizations thanks to the simulation tool
Once you are familiar with the use of the credit simulator, the best approach is to make several estimates, by modifying the monthly payments upwards or downwards, in order to make the right choice, in accordance with its repayment capabilities.
Find a good credit simulator
With the Internet, it is now easy to find a simulator of credit online and new developments in computer technology have created very good tools in this area.
- speed of execution and reliability,
- a simple and intuitive interface.