In recent days, a major advertising campaign has been launched by Crédit Municipal de Paris on the theme of credit redemption ... To show that its offer is different, the CMP indicates "We do not see credit as a product to be sold but as a a service to render you "... Laudable intention and which suggests that the CMP offers a different and above all less expensive credit buyback. Especially since the management of the CMP indicates that "too many people do not dare to talk about it with their banker. They do not know which door to knock on ...". There we become more suspicious because it is enough to open a TV program to discover tons of advertisements for the repurchase of credit. To verify that the Municipal Credit is more interesting than the bankers we carried out simulations with our usual comparisons. We therefore compared a loan repurchase of US $ 25,000 over 72 months taken at Sofinco, Paydaynow, Cofinoga and at Crédit Municipal de Paris. The Municipal Credit is the establishment which costs the most with an APR at 10% (the others are between 9.30% and 9.90%) and especially the highest administrative fees at 630 us dollars ... while the competitors evolve between 0 and 375 us dollars… In short, as we usually say, you have to compare!
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French banks take an average of US $ 236.49 per year and per consumer. Miscellaneous fees, transaction fees, bank card ... everything is good for billing fees! And in the rest of Europe, it's the same! The European Commission for Financial Services has also just woken up with the voice of Michel Barnier. He indicates that banks are not transparent in their pricing and that they lack "good will" (sic!). So the bad banks are getting slapped on the fingers by Europe ... it will hurt! Brussels will therefore legislate both on the transparency of bank charges, the ease of changing banks for the consumer, but also the accessibility of citizens to a basic banking service ... That the banks rest assured, the committee will present its legislative proposals at the end of 2012 ... By the time all this is put in place, you will have at least been debited twice from your bank card contribution!
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Contrary to what one might think, in this period of crisis, the French are buying more expensive cars! According to the Committee of French Automobile Manufacturers (CCFA) the average purchase amount of new vehicles in France has increased by 15% and is now 22,800 us dollars. This increase is mainly due to the end of the "scrapping bonus" which allowed the less well-off French to change their vehicle at a lower cost. The premium was mainly used for the purchase of small displacement vehicles. In fact the sales of more expensive cars have not increased ... it is the sales of low end cars that have fallen! Overall, fewer and fewer new cars are being sold in France: -20.2% in February 2012! This is the biggest fall on the European market.
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Too high fees, too frequent change of advisor, inability to meet your account manager, uncompetitive real estate rate ... there are plenty of reasons to change bank. But it is not yet that simple ... According to the consumer association UFC - What to choose, 40% of customers who wanted to change bank encountered problems during this transfer. 20% even had to suffer from delays in the payments of direct debits and transfers. Which of course generated bank charges! More seriously, 31% of customers who wanted to change bank abandoned the transfer because they found it too long and too complex. It must be said that even if your bank considers you as a small customer, and does not grant you any advantage, it still sees in you a source of income through the bank charges that you pay it! To change bank, choose an online bank, which has less costs, and which generally takes care of everything ... It will be faster and above all less expensive!
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The average amount of mortgage loans has been falling steadily since July 2011. It is now just above US $ 140,000. All types of loans are in decline except rental investment loans. If we look at the average amount in relation to the location of the property, we realize that in the Paris region it reaches 215,000 us dollars while in the provinces it is below 130,000 us dollars. Regarding the duration of mortgage loans, it is on average 19.7 years. For first-time buyers in the main residence, the average duration stabilizes below 22 years. The average household debt ratio for a real estate purchase is currently slightly above 30%. It is especially the credit repurchase operations which show an acceleration with a debt ratio of more than 31%. Study carried out by the Prudential Control Authority (Banque de France)
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Consumer loans, whatever the project, attract the French less and less. The production of new loans in January 2011 returned to the level of 2000 ... According to the Association of Financial Companies (ASF), in January 2012, personal loans and revolving loans fell overall by 7.4% compared to January 2011. In detail ... It is especially credits for new cars that have fallen the most, the drop is 14.5%. This figure includes conventional credit financing and Rentals with Purchase Option. This figure is easily explained because sales of new cars are currently in the red. Personal loans are down 9.5% from last year. This is an extremely sharp drop, never seen since December 2009 ... Revolving credit (the famous revolving accounts) are down 8.2% compared to January 2011. But cumulatively over the last 12 months, the decline reached 24%. Appropriations for household equipment such as household appliances, multimedia equipment and furniture did not decline, but a small increase of 1.5% ...
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A few weeks ago monabanq. offered consumer loans on the Internet to all its visitors. It's now over and only monabanq customers. can apply ... So far, monabanq. offered, in addition to the bank account on the Internet, car loans, works or personal loans for all visitors to the site. After a quick simulation any internet user could apply for a loan. monabanq. was well placed from a rate point of view and was therefore attractive ... Change of strategy for online banking: the possibility of applying for a loan is now only reserved for its customers. A simple visitor to the site can therefore no longer perform a live simulation. He must first open a bank account! Another novelty: only monabanq customers. can have access to revolving credit and credit redemption, which are no longer even presented in free access on the site. Loans at attractive rates were a real showcase for monabanq. and could even attract new customers for the bank account ...
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