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Easy Cash is part of APRO Financial Poland. The brand is part of the global financial group APRO Service Group, which is a leader on the market of bank loans in Korea and is actively developing in China. The company has been in existence since 1999 and for all these years has specialized in granting non-bank loans, conquering the Far East market. It has been operating on the Polish market since 2014 and since then has been making every effort to be a professional advisor to its clients at every step leading to the receipt of a loan.
At Easy Cash, you can take a loan in 3 ways: through the Agent, by submitting an online application and by phone during a conversation with a Customer Service consultant.

Easy Cash – payday loan up to 30 days

This offer is addressed to people between 20 and 65 years old, possessing Polish citizenship and being registered in Poland and having a minimum income of at least PLN 1000 net. At Easy Cash, we can apply for an amount from 500 up to 5000 PLN. The payday repayment period is always 30 days regardless of the amount of the contract. We can apply for a maximum amount of PLN 5,000 with the first loan! Easy Cash checks its clients in the database of debtors (Credit Information Bureau, Economic Information Bureau, ERIF Register of Debtors).

Installment loan up to 36 months

With this solution, the requirements for a potential lender are the same as for a short-term loan. When deciding on a long-term loan at Easy Cash, we can apply for an amount ranging from PLN 1,000 up to PLN 20,000. There are three pay-back periods to choose from: 12, 24 or 36 months. The installment loan in Easy Cash is one of the cheapest offers on the non-bank market.

Inference Process

Registration in the system consists of providing basic data and takes literally a moment, after registration you will receive an activation link, which will automatically return you to the login page. Then set the amount and repayment period and click “TAKE”. When our application goes for verification, a consultant will contact us for additional information. The next step involves sending an ID card scan and proof of income. Then make a verification transfer of PLN 0.01 to your bank account or PLN 1.00 if you choose the BlueCash quick transfer service. We will receive the contract in both traditional and electronic form, and cash will be credited to our account as soon as we accept our loan application.

Extension of the repayment date – costs

Easy Cash gives us the opportunity to extend the payday payday payable if we get a leg and we are unable to pay it back on time. Unfortunately, we will have to pay for such an extension. If we decided on a loan of a minimum amount of PLN 500, an extension of another 30 days will cost us PLN 90, while if we borrowed a maximum amount of PLN 5,000, such extension will cost PLN 900. Easy Cash does not give us the option to extend the repayment date for another period than 30 days, and the amount we pay for the extension is equal to the administrative fee – 18%.

And if the annual cancellation of the mortgage loan insurance passed the trap? This is at least the wish of banks who have filed an appeal with the Constitutional Council. The annual termination must come into effect next January.

Annual termination, what is it?

Little reminder. Several arrangements have been put in place for the termination and / or comparison of home loan insurance. The first ? The Cogilaw Company (2010), which authorizes the delegation of insurance, that is to say the possibility of opting for a borrower insurance other than that proposed by his bank when negotiating the mortgage.

Then comes the Law(2014), a device to cancel his insurance within one year after signing the mortgage. Third and last measure: the Reclosue amendment (2017), which authorizes the annual cancellation of the contract (termination on the anniversary date of the insurance contract). And it is this provision that poses a problem for the banks.

Why do banks want to revert to annual termination?

As revealed by an article published earlier this week, the Conseil d’État seized the Constitutional Council in early October at the request of the French Banking Company (FBC).

The “priority issue of constitutionality” posed to the Sages is based on one point: the retroactive nature of the law. That is to say, the possibility for borrowers to “break” contracts prior to 2017. As a result, lenders want to return to the status quo. It must be said that the annual risk of termination shake damn credit insurance market monopolized by banks (90% market share). A recent study estimated savings prospects for borrowers at 3 billion euros.

Is the annual termination not likely to weaken some borrowers?

This is indeed one of the arguments developed by the FBC. According to the Company, the annual termination could have a perverse effect: the demutualization of group contracts to the detriment of the most fragile households (elderly borrowers, worse health).

Let’s start from the beginning. There are two types of loan insurance:

• group insurance, offered by the banks. They are based on the pooling of risks. In other words, young, healthy borrowers will cover the more fragile households, which have a riskier profile for banks. In short, everyone pays the same dues;

• insurance delegation, that is to say the fact of calling upon an outside insurer to benefit from personalized rates.

For the FBC, the Reclosue amendment is a blow to the principle of risk sharing. And could thus limit access to credit to more fragile households. Individual insurers would indeed favor borrowers in good health, ” leaving ” the most vulnerable group insurers. The latter, to make up for demutualization, would increase their rates. Which would rule out some borrowers.

The Constitutional Council must decide by the end of the year.

 

Lease with Option of Purchase (LOA) and Long Term Rental (LLD) are now acclaimed by the French when buying a new vehicle, with 70% of the financing market after bank. What are the differences between the two formulas and why is the LOA so successful? What place for classic auto credit?

LOA and LLD: what difference?

Rental with purchase option is today the number one solution used by the French to finance the purchase of a new car. In January, 500 million euros were borrowed LOA in France according to the Association of financial companies, against 174M € for the classic car loan. This mode of credit even wins the financing of used vehicles (+ 38% in 2018). LOA and LLD have the same basic operation: the user pays a monthly rent corresponding to the use of the vehicle. Some formulas may also include vehicle maintenance and assistance.

The difference is at the end of the rental period: with a LOA you can buy the vehicle at a fixed price at the start , while in LLD the vehicle is systematically returned to the concession. This difference certainly explains the success of the LOA because the French remain attached to the possibility of buying his vehicle.

The LOA acclaimed

The reasons for such success are both in tighter budgets for households but also in another way of apprehending the property. The younger generations are now more open to renting, sharing rather than owning. That’s why the LOA has taken over funding in just a few years . However, when doing the calculations, the LLD is more interesting and less expensive to use. Less regulated also because it is not considered a consumer credit and therefore less restrictive in terms of communication for car manufacturers.

Auto credit: a classic that continues to appeal to households

Classic auto loans, however, withstand purchases of smaller amounts or purchases of used vehicles. A car loan can finance all or part of the purchase of a new or used vehicle, where it weighs nearly ten times more than the LOA (324 million euros borrowed in January). A personal contribution is not mandatory but, unlike a personal loan, the amount borrowed must be used to finance the purchase of the vehicle. The rate practiced depends of course on the amount borrowed and the duration of the loan. For example, for a car loan of € 9000 over 48 months, the rate is 3%, which represents a monthly payment of about € 200.

Car financing forms

On the one hand, the car facilitates the functioning of the company, but on the other hand it is a considerable expense. This means that the decision related to its purchase requires a thorough analysis of all the possibilities that we have. We have several options for financing purchases. We can use external financing in the form of credit or leasing. However, if we have cash, nothing prevents us from using it to buy our vehicle.

Leasing or credit?

From the entrepreneur’s point of view, we are interested in several factors. First, of course, the cost of the product, i.e. interest, fees and commissions. Secondly, the vehicle can be depreciated and an entry in the tax deductible cost. What do the above elements look like in each product? Leasing requires a distinction between two types – operational leasing and financial leasing. In the first case, the lessee enters the entire installment in the tax deductible cost. It does not deduct depreciation. In the case of financial leasing, it deducts depreciation from tax, but only the interest part is deducted from the installment. Financial leasing, due to its design and smaller tax benefits, is less common on the market. Let’s focus on operational leasing and analyze the example.

Let’s assume that an entrepreneur buys a car worth PLN 65,000 in operating leasing. Assuming the installment is PLN 1,500, the company deducts PLN 285 from tax (assuming a flat tax of 19%). In this case, the actual cash outflow from the company will be PLN 1,215. What will the deduction look like for a loan? The cost for the loan will be only interest. Using the example of a car for PLN 65,000, we can assume an installment of around PLN 2,000, with interest beginning at around PLN 800. This means a tax shield at a cost of PLN 150. Cash outflow is therefore higher in the case of loans and amounts to PLN 1850. This amount will increase over time, because the interest installment on the loan will decrease as a result of paying off our debt to the bank. The amount of tax shield will of course decrease with the installment.

The Financial Sector Advisory Committee (FSAC) has delivered an opinion on mortgage loan insurance reforms implemented in recent years. Bottom line: Banks can further improve information for borrowers. happy-holi.com has more information

Termination and substitution of mortgage insurance

First, what reforms are we talking about? These are the laws:

• Cogilaw Company (2010),;

• separation and regulation of banking activities (2013);

• Mahon (2014);

• on the annual termination (2017).

These schemes frame the principles of unbinding and substitution between home loans and borrower insurance. That is to say, to opt for a mortgage loan insurance other than that proposed by his bank, “before” the signing of the offer of mortgage loan (unbinding) or “after” (substitution). In both cases, the borrowers use an external insurer, an operation called insurance delegation.

What is CCSF?

Created in 2003, the Financial Sector Advisory Committee deals with the relationships between financial institutions (credit, insurance, investment, etc.) and their clients. It issues opinions or recommendations.

A Notice of 13 January 2015 provided for the completion in 2016 of an initial assessment to determine ” the effectiveness of the measures adopted, to identify any implementation difficulties and to submit proposals for improvement “. An analysis that does not take into account the law on annual termination since adopted this year.

The CCSF review

So much for the context. The question now is: what is this balance sheet? The survey is based on a questionnaire administered to various market players: insurers, intermediaries, banks, consumer associations, etc. Each respondent could also put forward proposals likely to improve the delegation.

The results? The conclusions are generally positive. In terms of guarantees offered, but also in terms of decreases in mortgage insurance rates. ” This overall finding, however, covers practices that vary depending on the institution or category of stakeholder, not always favorable to the borrower, on several important points of the device, ” says the CCSF.

The ” practices ” in question are:

• significant differences (between 20 minutes and 10 days) in the training of the staff of the lending institutions;

• refusals of insurance delegations insufficiently explained;

• refusal reasons stating ” a misunderstanding or misinterpretation of the CCSF’s equivalency criteria “;

• banks whose study of the equivalence of the guarantee levels does not always respect the deadlines of 10 working days;

• exchange of information between banks and insurers ” insufficient ” between banks and insurers, particularly concerning the TAEA (annual percentage rate of charge).

The recommendations of the CCSF

From there, the CCSF recalls that banks must choose 11 maximum criteria corresponding to its ” risk policy requirements “. He also stressed the importance of the personalized form. This document, which details the minimum guarantees for banks, must be submitted as soon as possible before the issuance of the mortgage offer.

At the same time, the CCSF recommends the publication on the banks’ website of an ” exhaustive list of the documents necessary for the examination of the [delegation] file “, as well as the ” practical arrangements “.

The CCSF also insists on:

• the fact that bank refusals must be ” clearly motivated, written and dated “;

• the need for good organization and information between market players (insurers, lenders, etc.);

• the need for the staff of these actors to be well trained in the terms of credit insurance;

• the requirement to include TAEA in insurance proposals;

• compliance with 10 business days when banks review delegated insurance proposals.

The CCSF also plans to issue a future notice in January 2018.

The laws governing the mortgage insurance

Let’s go back in more detail on the laws governing borrower insurance.

In 2010, the Cogilaw Company law instituted the delegation of insurance, that is to say the possibility of choosing a credit insurance other than that proposed by his bank. Three years later, the law of separation and regulation of banking activities forced insurers and banks to mention in their offers:

• the TAEA (or annual effective rate of insurance), which indicates the cost of the borrower insurance in the form of a percentage. This indicator makes it possible to compare mortgage insurance more easily;

• the total amount of insurance over the total duration of the loan;

• the monthly cost of insurance.

The 3rd measure is the Mahon law. It allows households to change borrower insurance up to 1 year after signing the mortgage. Fourth and last step: annual termination. Since 1 March 2017, households are allowed to terminate their contract on each anniversary date. For contracts prior to this date, the measure will be effective from January 2018.

Soaring prices at the pump, the origins of the movement of yellow vests, could lead more and more users to buy vehicles that are both fuel efficient and environmentally friendly. Hybrid powertrains are a relevant alternative, while low rates of car loans encourage you to take the plunge.

In order to simulate one ‘s auto credit, it is possible to use an online car loan comparator, which gives a good idea of ​​the financing of the vehicle. Here are some examples of hybrid vehicle financing. You can then make your own simulations, for example by varying the contribution and duration of the loan, to find out which auto loan would suit you.

Finance a One of a kind Car Saryo Technoline

Built on the site of Onnaing in the North, the Saryo is the most French Japanese city car. This bestseller offers a simple hybrid engine, combining a 1.5 liter petrol engine with a 25 horsepower electric block. Count from 20 325 € to acquire it, representing a car loan of less than 600 € / month over a period of 36 months, at a rate of 3.05% excluding insurance.

Acquire the Previl Car Hybrid with a car loan

It offers a combination of a 1.6-liter thermal block with a 61 horsepower electric motor. In total, it develops a power of 141 horses. It is available in conventional hybrid or mains-powered version. The entry-level is available from € 35,850, or monthly car loan less than € 800 over 48 months, at a fixed APR of 3.06% according to a credit simulation Auto Credhiter.

The Executive Car GTE: what auto loan?

The Golf, under this variant, can circulate up to 50 km in 100% electric mode and zero emissions. At € 34,500, it embodies one of the most popular rechargeable hybrids on the market. If you want to finance such a purchase with a car loan over 48 months, you can consider monthly payments below 800 € at an APR of 3.06%.

Buy with a car loan an Amazing vehicle

For high-end SUV enthusiasts! 373 horsepower, and fuel consumption at 1.7 liter / 100 km. Meanwhile, the batteries of its electric motor recharge in 4 hours on a wall charging system. To finance a vehicle, whose call price starts at 81,500 euros, the amount of car credit according to Credhiter amounts to nearly 1500 € / month under a 60-month commitment.

The steep rise in fuel prices has surprised many households.

At the pump, there is indeed a rise of 23% in one year for the price of diesel. As for the price of gasoline, it climbed 14% over the same period.

This inflation is largely related to the multiplication of taxes that weigh on the cost of these raw materials.

In the household budget, this situation has heavy impacts. Energy expenditure is difficult to compress because it is essential to ensure our daily trips. In order to remedy this problem, it is advisable to buy a vehicle that tends to be more economical. So, which to choose to change vehicles?

Leasing: a popular mode

While previously an Auto project was always associated with an acquisition, in recent years this is no longer the case. To avoid an excessive outflow of money, some households make the choice of long-term rental (LLD) or lease with option to purchase (LOA).

These modes of have the wind in their sails. They allow consumers to regularly change vehicles. Especially since the maintenance is supported, which avoids exceptional costs that weigh heavily on the family budget.

Nevertheless, before committing to a car rental over time, it is necessary to check its debt capacity. Just like for a loan, this generates a new financial burden to be taken into account in the family budget.

The scrapping bonus to reduce the cost of the car!

Investing in a new vehicle without breaking the bank is also possible thanks to scrappage premiums and conversion premiums. These are more and more incentives for drivers.

It is the will of the government to promote a fleet polluting less polluting in France. A priori the amounts of the premiums that will be paid in 2019 will increase sharply.

Auto loan: how to choose the best deal?

Current conditions remain favorable for the purchase of a vehicle with on credit. In fact, interest rates on loans remain exceptionally low. However, offers of consumer credit abound and seem all attractive. Each proposal should be compared to select the most interesting offer.

Beyond the interest rate, it is the overall cost of the loan that must be compared. The Annual Effective Rate (APR) gives an idea of ​​the cost price. Moreover, do not hesitate to negotiate the additional costs. This is particularly the case for administrative fees, which represent on average 1% of the envelope. For example, for an Auto loan of € 20,000, the borrower will have to pay the sum of € 200 included in the plan.

In reality, financial organizations are often willing to reduce these fees in half. Be aware that banks regularly make “flash” offers at new rates. It is therefore worth keeping an eye for the ideal financial solution.

For households with insufficient debt capacity, there are solutions for investing in a new vehicle. The purchase of credits at the best rate with cash is then a boon not to be missed. It gives the opportunity to reduce its debt while enjoying a new cash that can be used to change cars.

 

You have found the car of your dreams but you do not know how to finance it? Four possibilities are available to you. The Credither guide comes back to each of them. In any case, whatever your choice, make sure that your debt ratio does not explode.

Automotive expenditure is the 2nd item of expenditure of households, so that your purchase is not to be taken lightly. In your estimates, you must also include insurance, maintenance or gasoline costs.

Ask your bank directly

This is the most logical solution, especially since your bank knows you. She will therefore be more receptive to your loan application.

Call a credit agency

Lending institutions specialize in consumer credit, including auto loans. Subscription conditions are fast and promotional rates can be offered.

Go through a broker

With a broker, no need to knock on the door of several banks or consumer loan organizations. This intermediary between the lenders and the borrowers takes care of everything: he is in direct contact with the lending institutions and compares the car loans.

By putting these organizations in competition, the broker / comparator provides its clients with attractive financial terms. He also advises them on the choice of the best proposal.

Sign a car loan at the dealership

Quick solution: car dealers – in addition to selling vehicles – offer adapted financing. Nevertheless, think about comparing auto loan offers to be sure to have the best auto credit terms.

Auto credit types

There is not one, but several auto credits. In fact, what lenders call ” auto credit   Is actually a personal loan or an assigned credit.

The personal loan is a financing without the borrower having to justify his request. In other words, the loan and the good (here, the car) are not related. But whatever happens, you will have to pay back your loan, even if the vehicle is defective or has not been delivered.

Conversely, the credit allocated is “tied” directly to the financed property. This is the case for example loans offered by car dealers. This implies that the request for financing must be justified to the lender. It also means that you only start repaying your loan after receiving the vehicle. And if it has a defect, you do not pay any monthly payments.

In the “category” of auto loans, you can also add the rental option (LOA). This solution makes it possible to rent a vehicle (or any other good), then to return it or to buy it definitively.

Individuals wishing to separate from their vehicle have two solutions:

Either they sell their car to an individual or to a professional (dealer, mechanic or specialized agent).

But regardless of the mode of transaction, the sale of a car involves a number of steps to be taken by the seller, even in the case of a simple donation to a loved one. Documents must be sent to the buyer, for example the declaration of assignment, the registration certificate or the certificate of non-pledge.

The sale of a vehicle is not an improvised project.

To help you, the Credit Guide informs you about all the steps to take.

All about the sale from private to individual I sell my vehicle to a professional (dealer)  Comparison of auto credit offers

• You fill your file,
• We compare the offers of the banks free of charge,
• You get the funding answers to your request!

Auto credit comparison The best current car credit rate 0,80 12 10,000 € Compare auto credits Consumable purchasing capacity Simulation personal loan Calculation TAEG Auto credit simulation

 

Interested in buying an electric or hybrid car? You may be eligible for the green bonus. The Credither Guide provides an update on the assistance available to drivers.

The ecological bonus, 

As its name suggests, this is a premium granted to major drivers, domiciled in France, for the purchase of a clean vehicle.

Obviously, modalities must be respected. The first is that the vehicle must be new, that is to say have never been registered, either in France or elsewhere.

If the property was a demonstration vehicle, its acquisition or rental must occur within 12 months of its registration.

There is also an ecological constraint. The vehicle must not emit more than 20 grams of CO²/km.

Regardless of the above conditions, the vehicle must not be resold or sold within 6 months of its registration. He must also have traveled at least 6,000 km.

Electric car: what is the bonus amount?

The bonus awarded varies depending on the order date. If it was ordered or rented before December 31, 2016 and delivered before March 31, 2016, the amount of the aid amounts to 27% of the acquisition cost including VAT, up to € 6,300. If the car is rented, the assistance is increased by the price of the battery.

For orders made from 1 January 2017, the amount also represents 27% of the purchase price, but the ceiling is lowered to € 6,000.

Good to know
Note that it is possible to obtain a conversion bonus if you replace your old diesel (1st registration before January 2006) with a “green” vehicle. Be careful, do not confuse this aid with the scrap premium that no longer exists.

As part of the conversion premium, the vehicle must be surrendered for destruction to an approved VHU (End-of-Life Vehicles) Center within 6 months after the purchase of the vehicle.

How is the ecological bonus paid?

Two possibilities. Or the dealer agrees to directly apply the bonus on the purchase price including VAT, in which case the bonus must be indicated on the invoice.

Or you send your bonus application to the Service and Payment Agency (ASP) after the purchase of the vehicle.

Finance your electric vehicle with a car loan

You are interested in buying an electric vehicle? Do you need a car loan to finance it? Do not hesitate to consult our barometer to know the evolution of current auto credit rates.